The volume of mergers & acquisitions and venture financing in the global travel and tourism sector fell in May, marking a second month of decline after a rally in March.
However, the UK was one of a number of markets that bucked the trend.
Research by analyst GlobalData reported that 53 deals covering M&A, venture financing and private equity were announced in May, down 25.4% on April when 71 deals were announced.
GlobalData said deal activity decreased in key markets such as the US, Japan, China, France, South Korea, Spain and the Netherlands, bringing total volumes down despite month-on-month improvements in the UK, India, Germany and Sweden.
Aurojyoti Bose, lead analyst, said: “May marks the second month of decline in deal activity for the travel & tourism sector after rebounding in March. Considering the spike in Covid-19 cases, it might take a few months to reverse the trend.”