The rise of experiences in APAC travel: an assessment of Klook’s socio-economic impact
Since its launch in 2014, Klook has helped revolutionise the Asia Pacific tourism sector, bringing benefits to businesses and travellers. Its innovative travel booking platform is at the heart of the trend towards travellers increasingly prioritising “experiences” in their spending decisions.
Klook commissioned Oxford Economics to analyse its contribution to the APAC economy, a decade after its launch.
In this study, we estimate that Klook’s activities in APAC contributed USD 7.2 billion to the region’s GDP in 2023, and supported over 200,000 jobs. Our assessment is focused on three revenue channels:
- revenues for Klook, which has operations spread across the region
- revenues for merchants, which sell their products and services to Klook’s international consumer base
- revenues for businesses that benefit from the spending associated with Klook-booked experiences.
The experts behind the research
Our Economic Consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
Michael Shoory
Head of APAC Tourism Analysis, Tourism Economics
Liam Cordingley
Lead Economist, Economic Impact
Qi Yu Chan
Economist, Economic Impact
Tags:
