Cannabis On The Rise In Europe: Why Germany’s Legalization Is A Game Changer For The Ecosystem
Germany’s legalization of recreational cannabis is destined to have a huge impact on Europe. And yes, some local market entrepreneurs and big corporations might be slightly disappointed with the not-for-benefit approach although broader implications suggest a rich landscape of potential opportunities for those with the foresight and patience to navigate it.
The Benzinga Cannabis Capital Conference returns to Florida this month where industry veterans and advocates will share their industry experiences. No doubt Germany will be a huge top. The two-day event at The Diplomat Beach Resort will take place on April 16-17. y
Big Picture
Germany’s stature as the 31st largest economy globally, boasting a GDP per capita of $48,000, positions it as a dominant force within Europe and beyond. Its influence within the European Union (EU) is formidable, often serving as the final arbiter on critical EU decisions over the past decade. With a population of over 80 million, cannabis is a familiar presence in many parts of the country. Notably, statistics indicate a significant prevalence of cannabis use among young adults, with approximately 8.4% reported usage for the last month in 2023, equating to around 2 million individuals. This level of usage mirrors that of countries like Uruguay, underscoring the widespread acceptance and consumption of cannabis within Germany.
The discussion over legalization has been ongoing for years. Drawing inspiration from Spanish activism and guided by international best practices, such as those …