Is Canada Building a Cannabis Monopoly?
Canada already has a sizeable client list for medical cannabis exports.
Businesses across the country now have footholds in the global market, capitalizing on the demand which could only grow more substantial in the coming years. While the market booms, it should be noted that this corner of the industry represents less than 1% of Canada’s sector’s earnings.
The Growth of Cannabis Tourism
In addition to adult use, Canada is a relatively popular destination for business and sightseeing. In 2013, the country saw 16.6 million inbound overnight visitors, resulting in $16.4 billion in spending. While tourists visited popular destinations like Ontario, British Columbia and Quebec that year, other provinces are taking steps to market themselves as cannabis friendly as well.
Western province Alberta is considering a law to allow cannabis smoking in hotels. The move is aimed to give the area an advantage over other locations where tourists have to find cannabis-friendly hotels or Airbnb arrangements. As an already popular destination for major cities and Banff National Park, Alberta sees itself gaining an edge. While not all hotels would need to participate, the lure is appealing to many in the province.
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