TikTok has released its “The Economic Impact of TikTok in Canada,” developed by consulting firm Nordicity, which quantifies the economic impact of small and medium-sized businesses (SMBs) that use TikTok to reach audiences in Canada and globally from 2019-2024.
It said it not only delivers entertainment – it powers economic growth for 613,000 Canadian small and medium-sized businesses (SMBs) using the platform, and the Canadian economy at large.
The social media platform said it has emerged as a platform where Canadian entrepreneurs are finding new customers, and financial success can be unlocked.
Nordicity, a leading international consulting firm providing economic analysis, estimates that in 2024 alone, the platform supported a combined total of $2.3 billion in gross domestic product (GDP) for Canada and the equivalent of 19,250 full-time jobs (FTEs) across its operations and SMB activities on the platform.
“We’ve seen how businesses of all kinds, across Canada, have utilized TikTok’s unique ability to not only reach, but forge impactful relationships with customers around the world – driving a positive impact on everything from finding new hires, to marketing, to driving increased revenue,” notes Joshua Bloom, GM, Global Business Solutions at TikTok Canada. “This report clearly demonstrates what our team already knows and is so proud of – TikTok, as a platform and as a local team, has a significant impact on the Canadian economy and drives results for small businesses.”
In fact, Nordicity highlights that 84% of surveyed SMBs reported promotion on the platform is essential to their survival.
Kristian Roberts, CEO and Managing Partner of Nordicity said: “As our findings reflect, TikTok Canada provides significant contributions to the Canadian economy both as a business itself and also as key enabler of success in many small and medium-sized businesses around the country.”
Key highlights:
- Over the span of five years, TikTok Canada’s operations injected $1.4 billion into the national GDP, directly supporting 9,000 full-time equivalent (FTE) jobs;
- In 2024 alone, it contributed $2.3 billion to Canada’s economy and supported 19,250 full-time equivalent (FTE) jobs through its operations and small business activities on the platform;
- SMBs on TikTok reported a $950 million increase in revenue in 2024, driven by their marketing investment on the platform;
- Among the Canadian SMBs and creators surveyed for the report, 84% said that advertising on TikTok is “essential” to their survival and 55% ranked TikTok as the leading social media platform for business promotion.The research by Nordicity also shows that in 2024 it’s estimated SMBs using TikTok contributed $1.4 billion in GDP to the Canadian economy and supported 13,670 FTEs;
- Through marketing investment on TikTok, SMBs increased their revenue by $950 million across Canada
Behind these figures are inspiring success stories from real Canadians across the country:
Alberta – Harlan Kingfisher, founder of Smudge the Blades, blended Cree culture with hockey to create a brand rooted in Indigenous identity. His business gained velocity through TikTok, where 80% of sales now originate.
Ontario – Tina Nguyen, founder of XXL & CO, saw her accessory brand become an overnight sensation, moving from her parents’ closet to a 4,000-square-foot warehouse thanks to TikTok.
Québec – Marc-Antoine Gagnon, owner of Chez Mag, turned his restaurant into a provincial sensation after one viral TikTok video. He has since opened a food truck and doubled his restaurant staff to meet the overwhelming demand.
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