Cannabis was legalized in Canada in the year 2018 and since then, the market is really growing. It was the second country to legalize the use of cannabis SkunksOasis
Many people are giving it a try due to its legalization. Most of the people who are using it for the first time after it was legalized are those of old age; the youths were trying it even before legalization
The national cannabis survey in the previous year also showed a decrease in people accessing it from the market directly since it was legalized
The Canadian government was set to accomplish a number of objectives with the legalization if this particular drug which includes preventing the children and youth from using marijuana. It is even the most important goal a government can achieve with this current world and how the young generation is being carried away by drugs
Impact of cannabis legalization on Canadian economy
Taxes
The Canadian government is able to tax on the sale of the drug because it is legal. Therefore, cannabis has become an extra source of revenue for the government. The government will be receiving additional taxes annually. This is definitely a direct positive impact
The employment sector will also be taxed now that the sale of cannabis is legal. They were not taxed before because their sales were not recognized by the government. This is also a reason to smile for the government
Impact on government expenses
Now that the possession of marijuana in Canada is legal, the crimes related to the drug will reduce. The absence of such criminals will help the government to save a lot in terms how it costs to enforce the law. The number of prisoners will also reduce hence, the government will spend less in maintaining the prisons and the prisoners
Impact on tourism
Tourists from across the world are more likely to visit Canada purposely for cannabis. The tourism will definitely cause an increment in the government revenue
Impact on real estate
Cannabis legalization has brought about the demand for new stores under which some will be commercial while the rest will be industrial. The stores will then be sold or leased to people. There will also be a need for rentals to accommodate the cannabis tourists
Generally, the Canadian government will experience great results in its economy as a result of legalizing the sale and use of cannabis
Conclusion
The struggle to legalize the use of cannabis has been going all over the world but so far, Canada is the only developed country which has achieved the same successfully. If all goes well with the legalization policy, then Canada will move a great step ahead