Thursday, June 20, 2024

TikTok claims its contribution to the economy is huge

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After this article was published, the article and the headline were updated to include the fact that TikTok paid for the study conducted by the economics consultancy Oxford Economics.

TikTok drove $14.7 billion in small-business owners’ revenue in 2023 and contributed $24.2 billion to U.S. gross domestic product last year, according to a company-paid report issued Wednesday.

The report, by the economics consultancy Oxford Economics, found that TikTok supports a minimum of 224,000 jobs in the United States, with the app’s greatest economic impact seen in California, Texas, Florida, New York and Illinois.

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