Small business, business grows with social media. TikTok is worth 1 billion to Italy

MILAN – Impact of 1 billion euros on the Italian economy with benefits for 11,300 jobs. These are the numbers that a new report by Oxford Economics puts together with the activity of small businesses on TikTok: a study extended to the five economies of Germany, France, the Netherlands, Belgium and indeed Italy, which collectively tracks the contribution of 4.8 billion to their GDP, with the creation of more than 50 thousand jobs.

In detail, the activity on the social network would contribute to the creation of 1.5 billion euros and 18,600 jobs in Germany; in France, 1.4 billion euros and 12,500 jobs; in the Netherlands, 629 million euros and 6,000 jobs; in Belgium, 309 million euros and 2,700 jobs. Tik Tok, again according to what we read in the research, would help Italian SMEs increase their sales by 700 million in 2023.

“As this analysis shows, startups are using TikTok to grow their business both organically and through the tools we provide,” said Rich Waterworth, general manager of marketing and operations for TikTok EMEA.

Chris Warner, economist and head of Oxford Economics, highlighted the growing impact of the platform on SME business: 73% of SMEs across five markets said the platform had a positive impact on their ability to communicate with customers; 72% said it had a positive impact on their ability to market new products and services, while 45% said TikTok had a good impact on their ability to reach new audiences internationally.

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