Canada Marijuana Legalization Could Generate Billions

It appears Canada stands to make a lot of money if it legalizes marijuana.

A new report from Deloitte claims the marijuana industry may generate over $22 billion if Prime Minister Justin Trudeau goes ahead with legalizing marijuana next year.

The combined sales of beer, wine and liquor in Canada are smaller than what the report claims marijuana could generate, and it could be a huge boom for the economy.

The report shows that most Canadians are behind the plan to legalize marijuana, with 42 percent in favor and 33 percent opposed. The remaining Canadians didn’t have a strong opinion on the issue. Canadians, right? The researchers surveyed 5,000 Canadian citizens.

Around $8 billion of the market would just be the marijuana sales, and the rest of the roughly $22 billion would come from money made by businesses connected to the marijuana world. Those businesses would include pipe makers, grinder makers, packaging, etc.

“On the production side, supplying even the low-end estimate of the recreational market would require producing over 600,000 kilograms of marijuana annually, a significant increase from what the medical marijuana industry is currently capable of producing,” Deloitte said.

Source: The 420 Times
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