Europe’s tourism and leisure industry saw a drop of 53,1 percent in overall deal activity during second quarter (Q2) of this year, when compared to the four-quarter average, according to GlobalData’s deals database.
Johanna Bonhill-Smith, travel and tourism analyst, GlobalData, a leading data and analytics company offers her view on the TUI shop closures in the UK.
According to Bonhill-Smith, this move from TUI UK is unsurprising after the European travel giant already declared initiatives to digitise operations in its half year results earlier this year. With 45 percent of global tourists opting to buy more products online in a post-pandemic world, it is likely that more UK travel agents will evaluate their brick and mortar strategies and make this move to trim costs at a time when demand has not yet returned.
Greece saw 35,3 million international arrivals in 2019 and was forecast to welcome 37,1 million arrivals this year pre-COVID-19. However, the impact of COVID-19 has seen that projection fall to 24,3 million, according to the latest figures from GlobalData, a leading data and analytics company.
The number of deals announced in the global travel and tourism sector declined by 38,5 percent during the week ended May 24, of this year compared to the previous week, according to GlobalData’s deals database.
Following the recent earning results of Airbus for quarter one (Q1) of this year, Nicolas Jouan, aerospace and defence analyst, GlobalData, a leading data and analytics company, offered his view on Airbus’s strategy:
A total of 837 deals were announced globally during the week ended March 29, , which is a decrease of 19,7 percent over the 1,042 deals announced during the previous week, according to GlobalData’s deals database.
Following the news on February 14 that Airbus is ceasing production of its A380 aircraft, Nick Wyatt, head of travel & Tourism, GlobalData, a leading data and analytics company, offered his view on this development.