In just ten years, Klook has transformed travel across Asia Pacific, driving economic growth and empowering businesses to connect with millions of travelers worldwide. To mark our 10th-anniversary milestone, we partnered with Oxford Economics, a world-leading economic analysis firm, to evaluate our impact on the region's tourism economy.
This independent study highlights how Klook supports local businesses, creates jobs, and contributes to economic growth, showcasing the power of a connected tourism ecosystem.
Driving Economic Growth Across Asia Pacific
In 2023 alone, Klook contributed $7.2 billion to GDP and supported over 219,000 jobs across Asia Pacific. These findings demonstrate how every booking made through our platform creates value far beyond the transaction itself.
Our impact spans three key areas:
- Direct impact: The economic activity attached to Klook and other businesses directly servicing demand from transactions on Klook’s platform and associated spending
- Indirect impact: The economic activity supported along supply chains of those front-line merchants and businesses
- Induced impact: The wage-induced spending of those employed through the direct and indirect activities described above
Oxford Economics also identified a “K-factor” multiplier effect, showing how every booking creates ripple effects that extend beyond travel experiences, generating economic benefits across the entire ecosystem
According to Oxford Economics, “The large-scale economic activity being supported by Klook across diverse sectors of the APAC economy, through supply chains and as a result of the extra spending associated with Klook bookings, mean the platform will help create a wide distribution of the benefits of tourism across the region in the years ahead.”
Find out more about the report here.
Fundamental shifts in travel
For many Asian markets, 2023 marks the first full year of travel recovery with a notable rebound in tourism figures, driven by two key trends accelerated by the pandemic: the digitalisation of the travel sector and a shift in consumer preferences towards experiences.
Digitalisation of the travel sector
Digital tools are transforming how consumers plan and book travel, especially in APAC, where high internet access and mobile broadband growth are powering this change. With over 80% of bookings made via mobile, digital platforms like Klook allow travelers to discover, compare, plan, and book their trips with ease, while also highlighting smaller destinations and operators. Beyond expanding consumer choice, this also levels the playing field for businesses, enabling even small tourism destinations and operators to reach global audiences.
A change in preferences from material good to experiences
We’re seeing a shift in preferences and spending toward experiences over material possessions, with a growing focus on authentic and diverse travel experiences. In APAC, travel and tourism are key drivers of the economy, contributing 11.2% to the region's GDP over the next decade and playing a key role in job creation. By offering hundreds and thousands of bookable experiences, Klook is fueling the strong demand for travel experiences in APAC destinations, contributing to the region’s tourism economy.
Explore the full findings of our partnership with Oxford Economics to learn more about how Klook is shaping the future of travel in Asia Pacific.
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Discover the Full Report
Explore the full findings to learn more about how Klook is shaping the future of travel in Asia Pacific here.
*Glossary
- Direct impact: the economic activity attached to Klook and other businesses directly servicing demand from transactions on Klook’s platform and associated spending;
- Indirect impact: the economic activity supported along supply chains of those front-line merchants and businesses; and
- Induced impact: the wage-induced spending of those employed through the direct and indirect activities described above
