More than 613,000 small to medium-sized businesses use the platform to grow their business
Tiktok has released a new report titled “The Economic Impact of TikTok in Canada.”
The report focuses on the impact of small and medium-sized businesses that utilize TikTok to reach audiences in Canada and worldwide from 2019 to 2024. According to the report, TikTok Canada’s operations contributed $1.4 billion to the National GDP over the span of five years, which TikTok claims supported 9,000 full-time equivalent (FTE) jobs.
In 2024 alone, TikTok states it contributed $2.3 billion to the Canadian economy, and supported 19,250 FTE jobs through the operations and small business activities on the platform. To break it down, $602 million was generated through TikTok Canada’s operations, $1.4 billion was attributed to marketing investments by small or medium-sized businesses. In comparison, the remaining $326 million was attributed to organic exposure. The report also showed that the platform added $554 million in tax revenue.
Small and medium-sized businesses reported a $950 million increase in revenue, driven by the marketing investment on the platform. Among the Canadian businesses and content creators interviewed, 84 per cent said that advertising on TikTok was “essential” to their survival, and 55 per cent ranked TikTok as the leading social media platform for business promotion. The social media platform states that an estimated 613,000 small to medium-sized businesses use TikTok to grow their business.
Recently, TikTok Canada rolled out a feature that makes growing businesses easier through the use of AI-generated advertisements.
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