A total of 73 deals were announced in the global travel and tourism sector during January 2022, which is a decline of 27% over the 100 deals that were announced in December 2021, according to GlobalData.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Just when deal activity in the travel and tourism industry started to recover during the latter half of 2021, deal-making sentiments took a hit in January due to the Omicron variant. There is still uncertainty prevailing among deal-makers in the sector.”

All the deal types (under coverage) witnessed decline in deal activity. The announcements of mergers and acquisition (M&A) deals, venture financing and private equity deals decreased by 30%, 23.5% and 15.4% during January 2022 compared to December 2021, respectively.

Deal activity also remained subdued in most of the key markets. For instance, markets such as the US, the UK and South Korea witnessed decline in the number of deals that were announced during January compared to the previous month.