Millions of Australians have visited a restaurant or place of interest, purchased something from a shop, bought concert tickets or music, or donated to charity - all because they saw it on TikTok. The inaugural 'TikTok Economic Impact Report,' by Oxford Economics, which can be read HERE, found that in the last financial year, TikTok contributed $1.1 billion to Australia's GDP and supported nearly 13,000 jobs. Definitely two stats worth dancing about.

With more than 8-and-a-half million Australians on TikTok, and more than 350,000 businesses, TikTok is proving to be a powerful tool for businesses, both big and small, and the contribution to the economy and jobs is real. The report found that investments in advertising and marketing on TikTok (FY23) generated $1 billion in direct revenue for Australian businesses, and with flow on impacts, the GDP contribution grew to $1.1 billion.

Oxford Economics spokesperson said TikTok can act as a “signpost” to the real world, offering people a way to discover new places to visit and new products and services. "In fact, millions of people have visited a restaurant or shop, or purchased music or bought concert tickets after watching TikToks. This means businesses can, and do, really leverage the platform to grow."

  • 78% of business respondents said that TikTok had a positive impact at expanding their business’s reach. That's great news for the 350,000 businesses using TikTok.
  • 38% of users, or up to 3.2M people, reported purchasing a product or service recommended on the platform at least once a month during FY23 (Based on the review period and TikTok’s AU user base of 8.5m).
  • Around 3.5M people (41% based on TikTok's Australian user base) visited a TikTok recommended restaurant or shop at least once.
  • Around 21%, or 1.8M people purchased music or concert tickets after discovering music on TikTok.
  • 77% of businesses surveyed said it allowed them to reach new Australian audiences
  • Around 19% (1.6M) of people have donated to a charity or highlighted cause, and around 18% (1.5M) committed their time to volunteer.
  • Those aged between 35-44 had the highest levels of donating (42%) and volunteering (43%) to charities with a TikTok presence.

    • How people engage with TikTok is fairly similar across the country, with entertainment coming in as the number one reason. People in regional centres love DIY and home content, while those in metro areas lean into the arts, sport and politics a little more. Using TikTok for business has been embraced by younger businesses. In the sectors surveyed, 54% of businesses aged between 5 and 9 years reported using TikTok at least once a month for advertising and marketing purposes, followed by 42% of businesses under 5 years old.

    TikTok, GM of global business solutions, Brett Armstrong, said it has become an integral part of the social fabric of Australia. "TikTok has become a platform that is loved by millions of Australians and used by more than 350,000 businesses, of all shapes and sizes, to reach new customers and markets. This helps to create jobs and put money back into the economy. Our unique recommendation system focusses on engagement and interests, rather than follower numbers. This allows both new and established businesses to tap into popular trends and culture without the need for big marketing resources."

    While younger businesses like Brooki Bakehouse in Queensland have embraced the platform, more established ones, like Dymocks, are also finding new audiences and customers through TikTok. Brooke Saward - Brooki Bakehouse - "Most of my bakery sales come from TikTok, and on weekends there is a queue down the street". Dymocks - The rapid rise of the BookTok community helped Dymocks reach a new audience and grow sales. This has led to designated BookTok/TikTok displays instore where they promote popular new releases in addition to products that will appeal to the TikTok audience.