The worldwide cannabis market is expected to reach $40 billion by 2024.
Back in 2015, Jamaica decriminalized possession for up to 2oz of cannabis and they've also embraced medicinal cannabis. They are expecting to benefit significantly from cannabis reforms in both Europe and the United States.
Dr. W. McNeill is a former Minister of Tourism and current politician in the country, who has recently urged the government to move quickly on crafting their own legalization policy that will clearly spell out their position on cannabis.
If they seek to embrace this market, he suspects that it could lead to cannabis-themed guided tours of approved farms, it could also hugely benefit the spa and health and wellness market etc. There are big opportunities here and they don't want to miss out, they are going to make sure that they have their hand in control of the cannabis industry.
On top cannabis tourism destination lists, Jamaica surprisingly doesn't often make the top recommendations. Believe it or not, it's regions like Canada, Uruguay, and The Netherlands, which have come out ahead frequently.
There are also a growing number of regions in the United States that are looking to compete as well, Colorado, California, Washington etc.
Ultimately, Jamaica is hoping to decrease the amount of illegal cultivation of cannabis in the region, which is estimated to be upwards of 37k acres. That's somewhere north of $1 trillion in value and they want their cut. It's not so much about giving tourists and people living there more freedom and a higher standard of living so much as it is about them making more money.