Oxford Economics Report: TikTok Produces IDR 233 Trillion For SMEs In The United States

Illustration of the TikTok application (photo: Pixabay)

JAKARTA - In collaboration with Oxford Economics, TikTok released TikTok Economics Impact 2024, a report that reveals the impact of TikTok on SMEs in the United States.

Amid the US ban on the use of the TikTok app, the report actually states that TikTok is the main driver of the US economy both at the state and national levels.

Where, reports made on 1,050 SMEs using Tik Tok, and 7,500 TikTok users, show TikTok generates $14.7 billion in revenue for UKM in the US by 2023.

In addition, the use of TikTok by SMEs also supports the emergence of 224,000 jobs in the US during 2023. Of these, 98,000 jobs are supported directly by SMEs on TikTok.

The report states that these impacts occur across regions in the US, with the largest-affected states being California, Texas, Florida, New York, and Illinois.

The report was released after the Draft Law that would prohibit TikTok from operating in the country was passed by the United States House of Representatives (DPR) in March.

In fact, recently US national security officials held a closed briefing on March 20 for senators on the Trade and Intelligence Committee on threats posed by China's short video app TikTok.

President Joe Biden's many legislators and administration say TikTok poses a national security risk as China could force TikTok to share user data in the US.

Meanwhile, TikTok insists that they never and will never share US data. TikTok even claims to have spent more than $1.5 billion to protect US data and store it in the United States.