Destination activities unicorn Klook to take on GetYourGuide in Europe

Hong Kong-based tours and activities booking platform Klook says it will expand to match Berlin-based rival GetYourGuide in every major European city late this year.

Both Klook and GetYourGuide are backed by SoftBank Group's Vision Fund, and each of the two companies is valued at more than USD 1 billion.

"We should have, by the end of this year, a matching set of activities, tours and experiences as any other player in all the major gateway cities in Europe," Wilfred Fan, Klook's chief commercial officer, told the Nikkei Asian Review.

The tours and activities business is one of the travel industry's fastest-growing sectors and has yet to be taken over by online travel giants such as Expedia or Booking.com, which now dominate hotels and air ticket sales. The global activities market is expected to grow up to 50% from 2015, to be worth USD 183 billion in 2020, according to travel research company Phocuswright.