The number of deals announced in the global travel and tourism sector declined by 3,8 percent during the week ended June 28, of this year, compared to the previous week, according to GlobalData’s deals database.
Over the past weeks, the impact on international travel plans has continued to climb. In a survey by GlobalData, 56 percent of respondents in the emirates have had to cancel their upcoming international travel plans due to restrictions.
Saudi Arabia is without question, the most important market in the Middle East. As the region’s biggest economy and home of Islam’s most important sites, the Kingdom dominates the regional landscape.
Using this current downtime to prepare future operations for a post-COVID-19 business environment is a must for lodging companies, said GlobalData, a leading data and analytics company.
The move by Abu Dhabi’s Executive Committee to form an infrastructure committee to oversee the development and operation of infrastructure in the emirate is an important step at a critical time for the construction sector, said GlobalData, a leading data and analytics company.
The Dubai Government’s decision to put future projects on hold is unsurprising as COVID-19 weighs down on global economies.
A total 215 deals were announced in the Asia-Pacific (APAC) region during the week ended March, 29, which is a decrease of 18,6 percent over 264 deals announced during the previous week, according to GlobalData’s deals database.
According to leading data and analytics company GlobalData, outbound and inbound air travel in Malta is expected to increase at CAGRs of 6,9 percent and 6,6 percent respectively between 2020 and 2023. The Air Malta agreement with Qatar Airways will offer increased connectivity from Malta to regions such as Africa, which Qatar Airways has been heavily investing in recent years.
Total tourism and leisure industry deals for December 2019 worth USD5,68 billion were announced globally, according to GlobalData’s deals database.