{"id":3516,"date":"2026-07-15T22:43:38","date_gmt":"2026-07-15T22:43:38","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=3516"},"modified":"2026-07-15T22:43:38","modified_gmt":"2026-07-15T22:43:38","slug":"klook-cofounder-ethan-lin-thinks-the-u-s-can-help-grow-one-of-asias-largest-travel-platforms","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=3516","title":{"rendered":"Klook cofounder Ethan Lin thinks the U.S. can help grow one of Asia\u2019s largest travel platforms"},"content":{"rendered":"
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Both were also third-culture kids. Fah grew up in Mauritius, the small Indian Ocean nation whose economy relies almost entirely on tourism. Lin, in contrast, lived in several cities as a child before starting college in the U.S. He links his love of travel to his background: \u201cExperiencing local culture, understanding how the world puts together different markets, traveling a lot with my parents.\u201d<\/p>\n

Read more China\u2019s economy slows to weakest quarterly growth in 3 years<\/a><\/p>\n

Lin\u2019s Nepal trip was a bit of a disaster, in his telling.\u00a0\u201cWe noticed that payment, language, content, infrastructure, and discoverability were not there,\u201d he tells Fortune<\/em>. \u201cIt took us so long to find out what we could do\u2014canyoning, white-water rafting and paragliding\u2014and it was a lot of effort to plan.\u201d<\/p>\n

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Then a close call pushed Lin and Fah to quit their jobs. As they were about to fly back from Pokhara to Kathmandu, they learned the flight that had left an hour before them had crashed. Later, on Linkedin, Lin wrote that the incident \u201cpushed Eric and I to quit investment banking \u2026 and get to work.\u201d<\/p>\n

They then hired Bernie Xiong, a Chinese software engineer, to be Klook\u2019s chief technology officer and third co-founder. The company released its first mobile app in mid-2015. Klook grew rapidly across Asia, thanks to a demographic Lin calls \u201cFITs\u201d: foreign independent travelers, who plan their own itineraries instead of booking a fixed-route group tour. Klook achieved unicorn status in 2018.\u00a0<\/p>\n

Now, Klook is setting its sights beyond Asia. Eighty percent of the platform\u2019s customers are currently based in the Asia-Pacific region. Yet according to Ethan Lin, Klook\u2019s cofounder and CEO, Western travelers account for a growing share of users. Klook\u2019s gross transaction volume from users outside of Asia has risen 13.4% over the past three years.<\/p>\n

\u201cThe U.S. is actually one of our largest markets, especially as Americans are taking a growing interest in APAC destinations, where we have a strong supply of offerings,\u201d Lin says. \u201cFor our users from the West Coast of the U.S., for example, their top outbound destination is Asia.\u201d<\/p>\n

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Klook filed for an IPO on the New York Stock Exchange last November, hoping to raise between $300 million and $500 million. A month later, Klook announced that it was pushing the IPO to \u201cearly 2026\u201d, citing weak debuts from peers like Navan, an AI-powered corporate travel and expense management platform.\u00a0<\/p>\n

The platform has yet to announce updated listing plans. Both Lin and Klook declined to comment on the potential listing.\u00a0<\/p>\n

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According to a November filing with the U.S. Securities and Exchange Commission, Klook lost $141.5 million on $407.4 million of revenue in the first nine months of 2025. Klook still holds less than 1% of the global experiences market, and faces stiff competition from larger players like Viator, GetYourGuide, and Booking.com.<\/p>\n

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Targeting young travelers<\/h2>\n

Over eighty percent of millennials and Gen-Zs\u2014Klook\u2019s target demographic\u2014prioritize unique, authentic experiences over popular tourist attractions, according to American Express\u2019s 2026 global travel trends report.<\/p>\n

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\u201cBaby boomers are the ones retiring with lots of money, who\u2019ll pay $100 to $200 for private tours,\u201d Lin says. \u201cMillennials and Gen Z favor options which are more value for money, like day activities and group tours.\u201d<\/p>\n

Though travel by older consumers is a growing market, Lin says Klook\u2019s central focus remains Gen Z and millennial travelers. \u201cIf we can only do one thing well, I want to make sure the millennials and Gen Z are well-covered,\u201d he says. \u201cOnce they see that our offerings have good value and service, they will continue growing with us.\u201d<\/p>\n

Through its Travel Pulse survey, Klook found that most tourists, especially the young, rely heavily on social media to plan their travels. \u201cYou do a paragliding trip once, then you\u2019ll recommend it to a friend,\u201d he says. Almost 60 percent of all travelers now use social media to discover less-visited or lesser-known destinations, with 79% of millennial and Gen Z respondents citing visual-first platforms like TikTok and Instagram as their primary source of travel inspiration.<\/p>\n

\u201cNowadays, most people travel not because they want to stay at a hotel, but because of specific activities they want to do in a location,\u201d Lin explains. \u201cThey may want to do a Hyrox in Seoul, watch a Taylor Swift concert in Singapore, or go on a road trip and visit the aquarium in Okinawa.\u201d<\/p>\n

Read more It\u2019s now cheaper to buy a new home than a used one, thanks to builder incentives and baby boomers who don\u2019t want to sell on the low<\/a><\/p>\n

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Klook has leaned into this trend, launching a creator program in 2023. It\u2019s since brought on over 30,000 \u2018Kreators\u2019 across 88 markets. In 2024, it launched the \u2018Kreatorverse\u2019, a travel summit for content creators. \u201cWe\u2019ll bring together creators at a single destination to create content, meet different partners, and have a fun time together,\u201d Lin says. \u201cIt also helps us to boost our brand.\u201d<\/p>\n

Shifting travel trends<\/h2>\n

Asians are traveling more. According to a 2025 report by Visa, outbound travelers from the APAC region grew by 32% from 2023 to 2024. The trend continued into 2025, with outbound travel from the region growing by another 25% year over year in the first quarter. <\/p>\n

\u201cIf you look at Asia ten years ago, most people were focused on luxury products, like Gucci bags and supercars,\u201d Dimitrios Buhalis, a tourism professor from England\u2019s Bournemouth University, tells Fortune<\/em>. \u201cBut after the COVID pandemic, many people realized that traveling gives them a different perspective on life, while improving their quality of life.\u201d<\/p>\n

Populous nations like India and mainland China\u2014both of which house a growing middle class\u2014are increasingly sources of outbound travelers. \u201cIn the past, Indian families would save money for the future generation,\u201d Buhalis quips. \u201cIncreasingly, their kids are not as interested in saving money but want to experience life, so they travel instead.\u201d<\/p>\n

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Asian travelers are also traveling to more far-flung destinations. \u201cAPAC has been a growing engine for U.S. and Europe destinations,\u201d Lin says, adding that more tourists from the West are also traveling to Asian destinations.<\/p>\n

Within Asia, tourism is growing beyond the usual hubs in countries like Japan, where more travelers are flying into Hiroshima (30% growth year over year), Towada (+34% growth) and Omachi (+34% growth), according to Klook data. In South Korea, travelers are also venturing beyond Seoul: Bookings for Jeju and Busan on Klook\u2019s platform surged over 50% in the first half of 2026.<\/p>\n

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China, too, has emerged as an exporter of cultural and tourism products. \u201cFor a long time, China was importing expertise\u2014they were keen to bring in established hotel brands like Marriott and Intercontinental,\u201d explains Buhalis. \u201cBut now, they\u2019re developing their own local brands, and are gradually starting to expand and export them.\u201d <\/p>\n

AI and technology<\/h2>\n

Klook is trying to tap AI to enhance the user experience for both travelers and merchants. It\u2019s currently building an AI shopping agent for consumers, and a co-pilot for merchants. Both AI tools are set to go live in the third quarter of this year.<\/p>\n

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Other travel booking platforms are dealing with concerns that users might be able to use AI to bypass their services entirely, tapping AI agents to book flights and hotels, build itineraries, and read reviews. Both Tripadvisor and Booking Holdings shares are down over 20% over the past year.<\/p>\n

Yet Lin thinks AI can enhance Klook\u2019s core business proposition. \u201cAI will boost our productivity, so we\u2019ll have more leisure time,\u201d he concludes. \u201cExperiences will continue to be at the core of human life\u2014we\u2019re the ones who experience the world, and that\u2019s not something AI can ever replace.\u201d<\/p>\n

When he\u2019s asked where he sees the business going over the next decade, Lin declines to give a firm answer. \u201cI haven\u2019t done too much forward thinking. I get caught up in execution,\u201d he says. \u201cRight now, it\u2019s day one. We\u2019re back to day one.\u201d<\/p>\n

In Fortune\u2019s \u201cAsia Agenda\u201d column, released twice a month, we speak with Asia\u2019s top business leaders about how they are building for the future and the lessons they\u2019ve drawn from leading companies in one of the world\u2019s fastest growing and most dynamic regions. Explore all of\u00a0our profiles here.<\/em><\/p>\n

Read more Warren Buffett on Bill Gates\u2019 \u2018distasteful\u2019 friendship with Jeffrey Epstein: \u2018No one bats a thousand in the business of choosing people\u2019<\/a><\/p>\n

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