The benefits of marijuana on the economic and financial system of the countries where it is legal

The economic and financial benefits of marijuana, which countries derive where it is legal

Modified on: 23/10/2023

What are the advantages of marijuana and its derivatives, and what can they bring, the answers are innumerable!

We are not the first to imagine that it would be a great opportunity to invest in the hemp sativa plant and its sisters.

As for the discourse on the benefits of marijuana and its derivatives, they are at the centre of attention of any existing political and financial system.

As early as the 1600s, New England, Maryland and Virginia had made cannabis an integral part of their economic system, obliging farmers to grow it on at least part of their land and offering the possibility of paying taxes through this production.

It was obviously a source of wealth!

Today, whether it is legal hemp or simply hashish, whether it is the subject of CBD online shop and legal cannabis products, CBD shops or the legality of CBD oil, we know that the whole sector brings important capital to the financial markets and we wonder which is the way to overcome many obstacles, often only bureaucratic.

The map that takes us from JustBob’s blog to the places of “freedom and prohibition” in the legal use of grass and cannabis, makes us reflect on the reasons for so much diversity in approach to the subject.

A mental map leads us to think that, in any case, we are faced with a problem that is too much discussed to be postponed, especially at the time of today’s emergencies.

The turnover is multi-billionaire and too often ends up in the hands of criminal organisations… unless it is a country where the factory and its multiple uses are legal.

Read also: Why the stylised marijuana leaf is a highly sought-after design for tattoos?

What happens in systems where the benefits of marijuana are the focus?

One example that comes to mind there is Uruguay, which has understood what advantages marijuana and its derivatives can offer. It was the first state in the world in recent years to pass a law to legalise marijuana.

With this initiative, the country stole up to 22 million dollars from drug traffickers and launched what we can now consciously call the “green revolution”.

Legal cannabis, when legalized, is an essential ally in the fight against climate change; a resource through which it is possible to replace petroleum derivatives and therefore a fighter for the reduction of the levels of CO₂.

In the United States, legal pot has generated tens of billions of dollars in sales and is the sector that creates the most jobs: more than 64,000, full-time, in a single year.

Colorado was the first of the U.S. states to make marijuana legal for medical and recreational purposes without increasing health care costs and, in fact, with $700 million in sales over one year.

The fact is that the economic and financial system in any country is not a system in itself, but is linked to everything that concerns the well-being of a nation.

It cannot be underestimated that, in addition to making certain financial sectors grow and having a positive impact on general economic indices, legalisation positively affects other spheres.

In the case of Colorado, Denver (its capital) has also saved a lot on crime repression, recording, for example, 10% fewer burglaries than in the years when legalization was not yet a reality.

Finally, Holland, which earns 400 million euros every year from the sale of legal marijuana and hashish. The Dutch state can also afford to reinvest in information and prevention to reduce any harm, but it does not appear that consumption in the country is any different from that in other western states.

What's happening in systems where the benefits of marijuana take center stage

What if Italy did the same?

Ferdinando Ofria and Piero David, professors of economic policy at the University of Messina, have conducted several studies on the discourse on the legalisation of marijuana.

They have compared the costs and benefits of market regulation intervention and calculated the positive financial effects.

Legalisation of CBD cannabis would allow substantial economic returns to the state coffers and many other social benefits.

We could earn €8.5 billion a year. An almost congruent figure (just to assimilate) what it would have served the state, in certain situations, to avoid increasing VAT.

Read also: Uruguay: when the hemp plantation becomes a resource for the country!

If we then leave aside for a moment the data strictly related to the world of the Italian economy, we can draw up a small list of other advantages, given by investments in the world of cannabis, such as :

  • fruitful fight against the mafias
  • improving the principles of sustainable development
  • growth of fair financial market sectors
  • greater social awareness of the sphere of drugs and addictions

Finally, we would like to mention a study published in Jama Internal Medicine (2014) which showed data from certain American states in which the use of medical cannabis produces a 24.8% lower mortality rate compared to deaths caused annually by an overdose of opioid analgesics.

Find out more about the CBD flower, CBD hash, CBD oil and CBD weed in the UK on the JustBob cannabis online shop.