In the first three quarters of this year, we registered a total of 558 businesses (fusions and acquisitions, private participations, and risk financing operations) in the travel and tourism sector worldwide, representing an insolvency rate of 33% compared to the announcement of 833 businesses during the same period in by 2022, according to GlobalData, a leading data and analytics company.

According to the consultancy, “all open business types, in most major markets, recorded a sizable decline in annual business announcements during the first three quarters of 2023, compared with the same period in 2022.

The volume of business resulting from mergers and acquisitions (M&A) for the travel and tourism sector, for example – referring to consulting – decreased by 34.6% during the first three quarters of 2023 compared to the equivalent period of 2022, in terms of the total number of private equity businesses and financing businesses risks fell 29.2% and 28.4%, respectively.

Rising energy prices fueling inflation and conflicts such as the invasion of Ukraine by the Russian Federation “seem to have affected negotiating sentiment in the travel and tourism sector. As a result, we have observed moderate activity in several key markets across all regions” referring to the consulting firm.

North America experienced a 43.9% decrease in business volume during the first nine months of 2023 compared to the same period the previous year, in the Europe, Asia-Pacific, Middle East, Africa and South America regions. recorded declines of 39.7%, 12.7%, 16.7% and 25% respectively.

Likewise, key markets such as the United States, United Kingdom, South Korea, France, Australia, Japan, Netherlands and Canada recorded annual business volume declines of 44.4%, 40%, 12.5%, 12.5%, 25 .9%, 53.5%, 23.5% and 35.3% in the respective analysis periods compared to 2022.

According to GlobalData, China “emerged as a notable exception and recorded business volume growth of 21.9% during the first three quarters of 2023, compared to the equivalent period in 2022, in terms of which business volumes for India” remained at the same level. ”