United States
The economic transformation, as a result of cannabis legalisation, has never been more visible than it is in the United States. When Colorado and Washington first approved recreational cannabis in 2012, many were skeptical. A decade later and the results speak for themselves. As of 2024, nearly half of the U.S. states have legalised cannabis for adults. An even greater number now permit medical use, if not full, recreational legalisation. This broad policy shift has given rise to a flourishing domestic industry that topped 40 billion USD in 2024, up dramatically from USD 7.6 billion just eight years prior. Some experts project that U.S. sales could approach USD 67 billion by 2028.
Compare this to the worldwide total in 2019 of 17.5 billion USD, and you can see the truly dramatic rise and rise of this industry.
These numbers translate into substantial tax revenues and public-sector gains.
In 2023 alone, American states collectively reported around USD 4 billion in tax collections from cannabis.
This money often helps fund public education, healthcare initiatives, infrastructure projects, and substance abuse treatment programs. These are the kind of investments that will support and aid the progress of communities for years to come.
Beyond the tax benefits, the U.S. cannabis industry has emerged as a significant job creator. From growers and extraction technicians to marketing teams, security contractors, and software developers. Cannabis industry supports an increasingly wide range of roles. By some estimates, the sector now employs over 300,000 full-time workers. This is rapidly eclipsing established industries like coal mining and textiles. Put simply, legal cannabis has become a large, rapidly growing sector of the U.S. economy.
Canada
In 2018 Canada made history. It became the first G7 country to legalise recreational cannabis. This policy wasn’t just a social experiment, it was economically motivated. Within several years, Canada’s regulated cannabis market exploded. By the early 2020s, sales were on track to exceed 4 billion CAD. This is expected to more than double by the latter half of the decade.
The numbers only tell part of the story, though. Legalisation has bolstered Canada’s GDP, adding tens of billions of dollars since the market came online. Tax revenue is now flowing into public services and research initiatives. It has helped fund projects aimed at making the industry safer, more efficient, and more sustainable.
Global cannabis brands have sprung up within Canada’s borders. Companies like Canopy Growth and Aurora Cannabis have built operations far beyond North America, exporting their products and know-how to Europe, Latin America, and Australia. By leveraging its early legal framework, Canada has carved out a reputation as a global cannabis leader, turning policy progress into economic opportunity.
Latin America
With fertile climates and low production costs, Latin America stands poised to become a powerhouse in the global cannabis supply chain.
Uruguay
Uruguay broke ground as the first country to fully legalise cannabis in 2013. Although its initial economic gains were moderate, it established a blueprint for regulated production and sales. Meanwhile, Colombia is leaning into medical cannabis and exports, hoping to generate billions of dollars and create a thriving job market. The country’s ideal growing conditions allow it to produce cannabis more cheaply, giving it a competitive edge internationally.
Mexico
Mexico is on the verge of launching one of the world’s largest legal cannabis markets after its Supreme Court decriminalised recreational use in 2021. With proper regulations, Mexico could channel its cannabis industry into substantial tax revenues, job creation, and the weakening of criminal cartels’ influence.
Argentina
Argentina is also embracing medical cannabis, recently expanding home cultivation and legal sales of cannabis-based products. The government supports local industry growth, research, and development, aiming to spur employment and create a competitive export sector.
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