Recent Release | 10 Apr 2024
The socio-economic impact of TikTok in Australia
Economic Consulting Team
Oxford Economics
TikTok is a global entertainment platform, and one of the world’s most popular destinations for watching, creating, and sharing content. Less well understood is the economic impact of TikTok on businesses and communities.
Australian businesses are increasingly using TikTok as a channel to reach new customers and markets. Consumers often use TikTok as a “signpost” to the real world, offering those who use the platform a way to discover new places to visit and new products and services that interest them.
TikTok’s ability to increase sales for businesses advertising on the platform stimulates economic activity throughout their supply chains. Our economic modelling suggests that, once these total effects are taken into account, Australian business activity on TikTok ultimately contributed $1.1 billion to total GDP and supported 13,000 in FY23.
This report provides the results of our analysis of TikTok’s economic contribution to the Australian economy. Beyond that, the report describes the findings from our user survey and presents a set of case studies showcasing how SMEs have experienced growth through using TikTok to market their businesses.
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