TikTok-related spending worth $1.2 billion to NZ annual economy - report
TikTok-related spending is worth $1.2 billion to New Zealand's economy each year, according to a new report. An economist said firms do not necessarily need large followings or expensive production to reach customers through the platform.
TikTok-related spending is worth $1.2 billion to New Zealand's economy each year, according to a newly published report. The findings show the platform has become a significant commercial channel for small businesses as well.
An economist who reviewed the report said firms do not necessarily need large followings or expensive video production to reach customers on the platform. This suggests even low-budget businesses can gain visibility through it.
The findings come as governments and researchers increasingly try to measure the contribution of social media platforms to local economies. The report stands out as one of the first comprehensive studies to quantify TikTok's economic impact in New Zealand.
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