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WORLDWIDE ECONOMIC PROGRESS OF CANNABIS David Attwood | Prohibition Partners
THE GLOBAL CANNABIS INDUSTRY HAS EXPERIENCED PHENOMENAL GROWTH OVER THE PAST FEW YEARS AS MARKETS HAVE EMERGED IN PREVIOUSLY CONSERVATIVE REGIMES AND ESTABLISHED INDUSTRIES HAVE DEVELOPED, ALLOWING BUSINESSES TO THRIVE AND THOUSANDS OF NEW JOBS TO BE CREATED AT AN EXPONENTIAL RATE. Over the past two decades, 37 nations have legalised the use of cannabis on a medical basis, with the majority of reform taking place in the last five years. The shift has facilitated a dra-
matic year on year increase in the consumption and cultivation of legal cannabis globally, helping to establish a prosperous new industry and allowing a record number of patients access medical cannabis products. While financial markets have predominantly focused on developments in the US and Canada, Europe has the second largest consumption figures globally and the continent is expected to become the dominant force in years to come, overtaking North America in the process. A range of European nations are reforming legislation to allow medical cannabis to be much more widely available and allowing industrial level cultivation to take place in key production hubs such as Por-
