TikTok Boosts NZ Economy by Estimated $1.2 Billion

A new report from Infometrics suggests that TikTok has had a significant impact on New Zealand's economy, contributing an estimated $1.2 billion in 2023.

The report found that over 670,000 New Zealanders are visiting restaurants and cafes or making other purchases after discovering them on the social media platform.

According to Infometrics Principal Economist Brad Olsen, around 50% of businesses in New Zealand use TikTok in some way, with approximately 15% posting organic videos without spending any money.

Olsen noted that this low-cost approach can be effective for getting business in front of a large audience.