There’s a vast existing and eager audience waiting for legal cannabis products in the UK. The black market in cannabis in the UK is worth £2.6 billion annually, what could it look like if marijuana was legal?
The legal cannabis US market is worth an estimated $24.1bn US dollars, and since the legislation of cannabis in certain US states, many entrepreneurs have thrived in the legal marijuana industry, with venture capitalists benefiting from a joint involvement.
In 2015, cannabis legalisation in Colorado made $2.6bn off of tourists attracted to the state for its offering of legal cannabis.
Amsterdam is a thriving tourist city, and one of the reasons it attracts tourists from across the world is due to them being able to get marijuana safely and legally in cannabis cafes and stores. With a significantly lower crime rate than the UK, legalising cannabis could reduce crime and increase tourism.
The UK government currently spends over £1bn on resources and services devoted to the cannabis industry, including seizing illegal cannabis and prosecuting those involved in weed farms.