Proper cannabis regulation in Argentina could not only significantly boost the economy but also fund essential infrastructure, thus improving social well-being in the country.
He cannabis market in Argentina it could reach the impressive figure of US$1,697 million in a regulatory scenario that contemplates both medicinal and adult use. Furthermore, it is projected that the annual collection could reach US$441 million.
This assessment is the first specific measurement of the size of the cannabis market in Argentina and underlines the importance of establishing adequate regulation to fully take advantage of the economic and social potential that this industry offers. The figures come from a study carried out by different organizations that represent companies and people involved in the production, distribution and marketing of products derived from cannabis and hemp in Argentina.
The study revealed that the medicinal market alone could generate US$834 million and, in terms of taxes, it is estimated that it could raise close to US$216 million. With these tax revenues, it is projected that Argentina could finance key infrastructure in various areas.
In a medical scenario, projections indicate that it would be possible to build 1,168 kilometers of streets, 829 kilometers of routes, 145 highly complex operating rooms, 1,809 basic operating rooms, 579 daycare centers, 963 maternity wards or 1,112 public laboratories.
This is indicated by the analysis carried out by the Chamber of the Cannabis and Industrial Hemp Industry (CAINCCA), in collaboration with the Cannabis Observatory of the National University of José C. Paz and the Laboratory of Interdisciplinary Studies on Cannabis of the University of Quilmes, who together presented the first comprehensive report on the economic potential of cannabis in Argentina, titled ““The Other Whitewashing: The Impact of Cannabis in Argentina.”
Cannabis: the key to a better future for Argentina
On the other hand, in a scenario of adult use, tax revenues derived from cannabis would allow the construction of 1,178 daycare centers, 1,960 maternity wards, 2,261 laboratories, 3,392 kilometers of streets and 1,696 kilometers of routes. “Approximately 8,669 kilometers of existing streets could also be improved, which represents a significant investment in the country’s infrastructure,” the document maintains.
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The report highlights how effective regulation could not only transform the cannabis market domestic, but also contribute to the social and economic well-being of the country, facilitating the financing of vital projects and improving the quality of life of its inhabitants.
The objective of this research, the report maintains, is to open the door to a future where cannabis can be seen not only as a recreational substance, but as an engine of development and progress for the nation.
Source: Ambito
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