Klook revenues grow 4 folds in 2023

World-leading travel activities and services booking platform, Klook Philippines reaped a four times revenue growth between 2022 and 2023, based on gross sales figures resulting from efforts in promoting local and outbound tourism.

During a press conference on Tuesday, Michelle Ho, General Manager of Klook Philippines and Thailand, said bookings have tripled in the past year, with the average basket size having increased by 21 percent.

Popular experiences among Filipinos include theme parks such as Hong Kong Disneyland, Tokyo Disneyland, Universal Studios Japan, and Universal Studios Singapore. Other drivers include in-destination transport passes such as Japan Rail Passes and local attractions like the Manila Ocean Park.

“2023 was a great year for tourism recovery, and this growth mirrors a collective yearning to explore and gain new experiences. We are happy to see that Filipinos have fully embraced the joy of traveling again, and we’re honored to be a partner in making their dream vacations a reality,” Ho said.

Plans to travel in 2024

Further, she said that Klook has seen a rise in those planning international travels in 2024, with 76 percent of respondents already making plans to do so.

When Filipinos planned overseas trips in 2023 and early 2024, she said they visited nearby destinations such as Hong Kong, Singapore, Japan, and Thailand prioritizing sightseeing, shopping, and outdoor adventures.

For international travel, the majority of Filipino travelers typically budget around P15,000 to P50,000 for their overall spending.

She said Klook has also seen a booking lead time of four to six months in advance, most especially for flight tickets.

In terms of experiences, they are done similarly to when booking for flights, with 4-6 months of lead time to their trip, Ho said.

Tagaytay, Baguio, Batangas, Boracay, and Palawan are the preferred domestic destinations.

Domestic tourism is more popular among Filipinos with 92 percent of the survey respondents already having plans to travel domestically in 2024.

Those who traveled in 2023 and early 2024 visited Tagaytay, Baguio, Batangas, Boracay, and Palawan, most near Metro Manila and accessible by land transportation.

This is supported by Klook's findings, indicating Filipino preferences for having road trips with friend groups of 3-6 people.

Klook also found that domestic flights and accommodations are booked simultaneously, with almost half of the respondents accomplishing these 2-6 months before their trip, and experiences on the other hand, one month ahead.

When booking and planning transportation, accommodations, and activities, the majority of Filipino travelers generally set budgets of P15,000 to P30,000 for their local trips which usually last up to 4-6 days, likely to maximize the exploration and relaxation in their chosen destination.

The study also found that 73 percent of the respondents like to take advantage of long weekends, planning staycations, and other bookings during special occasions.

This is in connection with data finding that 63 percent of those who plan to travel in 2024 have already booked tickets, accommodations, or activities for their trip, most likely in anticipation of these long weekends, and other special occasions and personal milestones.