TikTok Fuels NZ Economy with $1.2 Billion Boost

TikTok has become an increasingly important platform for New Zealand businesses to reach customers and drive sales. According to a recent report by Infometrics, commissioned by TikTok, the app has added an estimated $1.2 billion to the country's economy over the past year.

The report found that around 309,000 New Zealand businesses are now using TikTok at least monthly to promote themselves, with roughly 671,000 users saying they spend money each month after seeing a product, service or place featured on the app. Restaurant and cafe visits, cultural and sporting events, and trips to new destinations were among the most common categories of spending linked back to something seen on the app.

Infometrics chief executive and principal economist Brad Olsen said that one of the key benefits of TikTok is its ability to reach a wide audience quickly, even without large followings or expensive production budgets. 'You can put something up and once it goes viral, it spreads,' he noted.