There was a time when most people believed that the legalization of marijuana would mean the demise of all order. But look at where we are now – a place in time where the marijuana industry has bigger economic growth prospects than any other industry. This doesn’t just benefit those parties directly interested in the marijuana industry, itwill be economically beneficial for others, too.
With Colorado projecting over a $1 billion annual income this year and Oregon following shortly behind, even the government stands to make a lot of money from the sale of marijuana. Well, the truth of marijuana is that it is good for everyone, even those that aren´t using it. Many industries indirectly related to the marijuana industry will benefit from this growing industry.
This might seem like a long shot, but with more states legalizing marijuana and more marijuana events popping up all over the USA, marijuana tourism is rising. It is also becoming popular for people from around the world to flock to places where the herb is legal so that they can try some good quality pharmacy herb.
NBC News released information in 2014 stating that that year, Denver´s hotel demand increased by 73% during the Denver 420 festival. This probably isn´t the only example of this kind in the tourism industry either. Amsterdam became an icon of marijuana tourism for decades, and those around the world will probably flock to the USA to do the same thing.
That´s right. All those folks who have been super hesitant to jump on the marijuana bandwagon because of federal policy actually stand to make good coin from the marijuana industry. Despite the fear around working with the marijuana industry, banks have a lot of money to make simply because of the amount of dispensaries that are popping up all over the USA. They all need a banking system for their business, but only 3 percent of US banks are currently participating in the marijuana industry.
Not only are there growers and farmers out there who need their grow houses and other equipment to be built, but with the introduction of hemp back into the market, the construction industry can look forward to a boom. Hemp is probably going to be cheaper than a lot of the materials that are currently being used for construction, and more of it will be available. This could be the solution for a new, sustainable living style.
Duh! That is where it all began for marijuana – as a medicine. It´s not surprising then that the medicine industry can stand to make a lot of money. The trick behind this for the medicine industry is they actually have to start recommending it in order to begin reaping the benefits of it. There is still some hesitance from medical practitioners to recommend marijuana as medicine, but once it is more accepted, it stands to be a money maker for the medicine industry.
As more and more people begin using marijuana, more and more jobs are going to be created. This starts at farmers and trimmers and growers, to distributors, to the manufacturers of all of the products that are associated with marijuana. The marijuana industry opens the doors for a lot of jobs, meaning that staffing agencies can also benefit from the legalization of this plant.
There are even more industries that stand to make money from the legalization of marijuana, and it is no surprise because marijuana is a step forward in sustainability and consciousness.
What other industries do you think will benefit from marijuana legalization? Let us know your thoughts on our social media or in the comments below.