Tourism has long been a major driver for growth for various countries as many tourists travel abroad for vacations to see dazzling landscapes and bustling city-life.
In turn, tourism also drives in revenue for many businesses such as food, retail, and hospitality. However, now, tourism is also helping to bolster the cannabis industry as well.
For instance, countries such as Canada, the Netherlands, and Spain are seeing a large influx of travelers since they have decriminalized cannabis.
Some U.S. states are also seeing an increase in sojourners despite the country having yet to legalize cannabis on a federal level. In particular, Colorado, which saw 82.4 million travelers in 2016, is among the few states to have legalized cannabis entirely.
Additionally, a survey conducted by Colorado Tourism reported that 12 million, or approximately 15%, of those travelers participated in marijuana-related activities. Among that group, it was reported that 5% traveled to the state specifically for marijuana-related reasons.
Around the world, even though the cannabis industry remains in its infancy stage, more and more countries continue to legalize the plant.
Thusly, the consumer base is projected to grow, propelling the overall market even further, as according to data compiled by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in 2016 and is expected to reach USD 65 Billion by 2023.