TikTok claims it boosted NZ’s economy by $1.2b. But do the numbers stack up? |…
TikTok claims it boosted NZ’s economy by $1.2b. But do the numbers stack up? | Stuff.co.nz
Stuff ·
TikTok claims it boosted NZ’s economy by $1.2b. But do the numbers stack up? | Stuff.co.nz
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{"v":1,"chapters":[{"timeSeconds":1,"label":"TikTok's economic claims","summary":"A new report claims TikTok contributed an estimated $1.2 billion to the New Zealand economy last year. It also supported nearly 10,000 jobs."},{"timeSeconds":11,"label":"Report commissioned by TikTok","summary":"The report, commissioned by TikTok, found that over 670,000 New Zealanders reported visiting restaurants or cafes, or making other purchases after discovering them on the app."},{"timeSeconds":32,"label":"Questioning the figures","summary":"Stuff Money Editor Damien Venuto discusses the TikTok report, expressing skepticism about the $1.2 billion figure."},{"timeSeconds":48,"label":"Who paid for the report?","summary":"Venuto questions who paid for the report and how the $1.2 billion figure was calculated, noting that TikTok has commissioned similar reports in other countries."},{"timeSeconds":103,"label":"Report's methodology questioned","summary":"The report states that TikTok commissioned a reputable consultancy to conduct the research. However, Venuto points out that the report doesn't account for the potential negative impacts of social media."},{"timeSeconds":133,"label":"Money in circulation","summary":"Venuto explains that the $1.2 billion figure represents money already in circulation, spent by New Zealanders on various purchases, rather than new money injected into the economy."},{"timeSeconds":208,"label":"Social harm not considered","summary":"The report also fails to consider the social harm caused by platforms like TikTok. It's estimated that around 200,000 New Zealanders are affected by harmful content on these platforms annually."},{"timeSeconds":255,"label":"Missing crucial factors","summary":"Venuto highlights that the report omits crucial factors such as the cost of social harm and taxes. He suggests that a more comprehensive analysis would provide a clearer picture of TikTok's true economic impact."}]}
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