‘An integral part of the social fabric of Australia’: TikTok contributed over $1 billion to our GDP last year
TikTok contributed $1.1 billion to Australia’s GDP and supported close to 13,000 jobs last financial year, according to a new economic impact report by Oxford Economics.
The inaugural ‘TikTok Economic Impact Report,’ found that investments in advertising and marketing on TikTok during FY23 generated $1 billion in direct revenue for Australian businesses, as well as being responsible for another $100 million including “flow on impacts”, making the total GDP contribution $1.1 billion for the 12 months.
“Millions of people have visited a restaurant or shop, or purchased music or bought concert tickets after watching TikToks,” the report states. “This means businesses can, and do, really leverage the platform to grow.”
Did they pay more tax than Meta and Google?
“Millions of people have visited a restaurant or shop, or purchased music or bought concert tickets after watching TikToks,” the report states.
Millions of people who have visited a restaurant or shop, or purchased music or bought concert tickets after watching TikToks have probably also driven a car, got a Uber, listened to radio or digital music, seen an ad, seen a billboard, been recommended by a friend or evern gone to the toilet
That’s what we call a Vanity Claim.