For all the money pouring into the likes of GetYourGuide and Klook, spare a thought for other businesses that are finding the sector extremely tough.
This month, two consumer-facing businesses have publicized their plight - with one closing down completely and the other on red alert that its time is coming to an end.
Fromigo was a marketplace for city experiences, curated and hosted by local experts.
The platform launched in 2016 with a belief that, in its words, local people know a city the best so their knowledge should be turned into "unique experiences."
The company's founders, Diego Jenzer and Tim Elder, found they had an initial run of success, becoming a "leading marketplace in London" and, crucially, securing partnerships with third partners to sell the tours through white label versions of the website or distribution agreements.
Yet, even with high-profile deals with the likes of Airbnb, AccorHotels, VisitBritain and CitizenM, things didn't work out particularly well.
In a statement, the unfunded company says: "As with any startup trying to do big things, there's a chance it won't work out.
"Having operated for over two years, the business eventually run out of money - our margins have become too small."
The story of Fromigo's demise is remarkably similar to that of GetGuided, a Scotland-based startup with just over £100,000 in grant funding in its pockets (PhocusWire covered it earlier this year).
Again, here is a platform for tourists to get connected to local guides.
A few iterations of the company have seen it realize that the consumer-facing market is fairly crowded already, so it switched to attempting to build B2B relationships with hotels and destination marketing organizations.
During 2018 it had grown to find itself in 10 destinations around the world.
The company says: "However, despite having a functioning marketplace, our customers were still sending us emails and making phone calls to place a booking. We needed to go back to the customers and ask them why they do not use the platform.
"We realized that DMCs and concierges of high-end hotels do not book private tours, they book tour guides or suppliers directly for the custom tours that they have created for their guests. Although, we had right supplier base for that problem, we did not have the right technology."
This year the team rebuilt the supply and dashboard system for both suppliers and users, in the hope that it can move forward.
But again, startup oxygen eventually runs out - and so GetGuided has, according to founder Cavid Nadirov, just a few months ahead of it to raise a seed round.
He says: "Now we have figured out all the pieces and we have very distinct vision and strategy for GetGuided, know the market well, have never-ending passion, finalizing the tech, agreed with the team to be onboarded, and have awesome clients, supplier and partners to work with."