brown wooden map boardDeal activity in the global travel and tourism sector mostly remained flat during May 2022 compared to the previous month, says GlobalData.

According to the leading data and analytics company Financial Deals Database, a total of 73 deals were announced in the global travel and tourism sector during May, which is a growth of 1.4 over 72 deals announced in April 2022. Aurojyoti Bose, the Lead Analyst at GlobalData, comments Although this is a marginal growth, it has reversed the decline that the sector has been witnessing for the past few months.

This growth is mainly driven by the improvement experienced in the Asia-Pacific region, as deal activity declined in May in other key regions such as North America and Europe compared to the previous month. The number of deals announced in the travel tourism sector in the Asia-Pacific region increased from 10 in April 2022 to 17 in May 2022, while Europe and North America witnessed a decline in deal activity by 10 and 10.7, respectively.

Bose continues Within Asia-Pacific, India, Australia and China registered a month-on-month improvement in deal activity in May.

Written by: Jill Walsh