A total of 115 deals were announced in the global travel and tourism sector during August 2020, an increase of 4.5% on the previous month, according to GlobalData.
Activity increased in markets such as the US and China, while Germany and Australia saw declines and the UK and India were flat.
Aurojyoti Bose, lead analyst at GlobalData, said: “August marks the third consecutive month of growth in deal activity for the sector. This also assumes more significance as the travel and tourism sector remains one of the worst hit industries due to the COVID-19 pandemic and has witnessed several months of decline in deal activity in 2020. However, with several countries attempting to revive the tourism sector, deal activity could improve in the second half of the year.”
The announcement of private equity, partnership and equity offering deals increased during the month, while the number of venture financing, M&A and debt offering deals decreased.