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The number of deals announced in the global travel and tourism sector declined by 3.7% during the week ended May 17, 2020, compared to the previous week, according to GlobalData’s deals database.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector is among the worst hit due to COVID-19, and deal activity in the sector has remained inconsistent since the outbreak. While the sector witnessed growth in the week ended May 10 2017 to 27 deals, there was a decline in deal volume last week to 26.”

The announcement of equity offering and private equity deals decreased during the week, while mergers and acquisitions (M&A) and venture financing deal volumes remained at the same level.

The UK, India and China, which witnessed one deal each during the previous week, did not register even a single deal during the week ended May 17, 2020.