by Natasha Lair
Last updated: 7:05 AM ET, Wed January 21, 2026
Deal-making across the global travel and tourism sector slowed in 2025, with total deal volume down 5% year over year.
According to new data from GlobalData, the decline covers all major deal types: mergers and acquisitions (M&A), private equity, and venture financing, and reflects broader economic pressures affecting investor confidence.
“The downturn is indicative of broader economic uncertainties weighing on deal-making sentiments,” said Aurojyoti Bose, lead analyst at GlobalData.
“While the overall deal volume in the travel and tourism sector faced headwinds, certain regions and markets showcased resilience.”
Regional performance varied
GlobalData’s Deals Database shows uneven performance across regions in 2025:
- Asia-Pacific deal volume declined 4% compared to 2024
- Europe saw a sharper 17% drop, attributed to economic and geopolitical pressures
- North America recorded an 8% increase
- Middle East and Africa, along with South and Central America, remained largely flat year over year
At the country level, Canada and the U.S. both posted growth in deal activity, while India, China, Spain and Germany experienced declines.
Deal volumes in markets such as the United Kingdom, Japan and Australia were largely unchanged from 2024.
“The wide disparity across different regions and markets suggest that localized opportunities still continue to exist despite broader market challenges,” Bose added.
Deal types tell a mixed story
While overall activity declined, M&A transactions remained stable in 2025, with volumes largely matching the previous year. According to GlobalData, this suggests companies are still pursuing inorganic growth, albeit more cautiously.
Venture financing fell 21% year over year, while private equity deal volume dropped 28%.
GlobalData noted that historical figures may be revised as additional transactions are disclosed with delays, a common occurrence in deal reporting.
Topics From This Article to Explore
