GlobalData: Tourism deal activity down by 10.4% in 10M 2024
The lodging sector was the most active
The global tourism industry saw a 10.4% decrease in deal activity in the first 10 months of 2024, according to GlobalData. The lodging sector was the most active, accounting for 45% of all deals. The most active region was Asia-Pacific, which accounted for 42% of all deals.
Factors contributing to the decline
There are several factors that contributed to the decline in deal activity, including the global economic slowdown, the COVID-19 pandemic, and the war in Ukraine. The global economic slowdown has led to a decrease in business travel and tourism spending. The COVID-19 pandemic has also had a significant impact on the tourism industry, as travel restrictions and lockdowns have made it difficult for people to travel. The war in Ukraine has also created uncertainty and risk in the global economy, which has led to a decrease in investment activity.
Outlook for the future
Despite the challenges, the outlook for the tourism industry is positive. As the global economy recovers from the pandemic and the war in Ukraine, business travel and tourism spending is expected to increase. Additionally, the growing middle class in emerging markets is expected to drive demand for tourism.
Key findings
- Global tourism deal activity decreased by 10.4% in the first 10 months of 2024.
- The lodging sector was the most active, accounting for 45% of all deals.
- The most active region was Asia-Pacific, which accounted for 42% of all deals.
- The global economic slowdown, the COVID-19 pandemic, and the war in Ukraine contributed to the decline in deal activity.
- The outlook for the tourism industry is positive as the global economy recovers and demand for tourism increases.
