Slowdown in travel tech investment
Global funding of travel technology companies has slowed to its weakest level in nearly a decade, according to Phocuswright
The recent Phocuswright Conference shed light on the significant slowdown in global funding for travel technology companies, reaching its lowest level in nearly a decade.
Key takeaways
- Quoting the State of Travel Funding 2023 report, economic factors, rising interest rates, and geopolitical tensions have contributed to this decline, resulting in a drastic drop in funding rounds and To culminate investment in the industry;
- Additionally, sky-high valuations from previous years have made follow-on funding more challenging to secure;
- A notable contrast to the decline in funding is the proliferation of mergers and acquisitions in the travel space, including corporate travel, with the number of deals surpassing pre-pandemic levels, with corporate travel emerging as a particularly active area.
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