Check out Brian Applegarth's Cannabis Travel Weekly, No. 19, republished here with his permission.
United States - Travel-Related Economic Impact for Destinations that Offer Access to Cannabis Experiences
Summary: "Looking ahead, upward of $160 billion in additional spending will be added to the U.S economy in 2027, thanks to the opening and/or expansion of new recreational and medical markets in states such as New York, Maryland, Missouri, and Kentucky. The total amount of U.S. adult-use and medical cannabis sales is expected to reach $34 billion in 2023, according to the new MJBiz Factbook....the economic multiplier paints a picture of the cannabis industry's impact on the broader economy. For every $10 consumers and patients spend at marijuana retailers or dispensaries, an additional $18 will be injected into the economy, much of it at the local level. Some markets also include cannabis events and hospitality businesses, which tend to have an even higher economic impact than other industries."
Travel Lens Commentary: Destinations with a strong and vibrant visitor economy inclusive of cannabis will yield greater economic impact. This fact is important. The cannabis travel audience that research has identified (MMGY Global Travel Intelligence) is a high value audience for destinations to increasingly serve. Back in May 2022, Whitley Economics provided data that valued cannabis travel as a 17 billion dollar opportunity. "For every dollar spent at a cannabis shop, there's a multiplier effect, with $2.8 billion going to the local economy". The visitor spend matters for retail shops and lounges (and brands) that reside is a travel destination and care about reaching a mainstream audience. The visitor spend is very different from resident spend, and continuing to understand that difference from a data and economic impact perspective is important. That very data should inform strategy for shops, lounges, and destinations that wish to evolve and meet current consumer demand that exists today. #cannabistravel #cannabistourism
Europe - Sustainable Cannabis Bread with Nutritional Value
Summary: ""Belgian bakery chain Le Pain Quotidien, which has 54 stores in Belgium, the Netherlands, France and the United Kingdom....according to Van Overstraeten, the cannabis bread is Le Pain Quotidien’s most ecological bread ever. The bread is made of peeled and unpeeled cannabis seeds, ground cannabis flour, sourdough and organic wholemeal flour. Founder Alain Coumont and Belgian cannabis grower Canbe Farm developed the recipe to make sure it was as ecological and at the same time good-tasting as possible. The sustainable part of the quotation is met through the fact that the hemp plant stores up to 15 tonnes of CO2 per hectare annually. And thanks to the seed’s high concentrations of vitamins B and E, magnesium, potassium, iron, zinc and phosphorus, omega-3 and omega-6 essential fatty acids, your gut will be pleased too." #sustainability #regeneration #cannabisnutrition #hempnutrition
Travel Lens Commentary: Cannabis and hemp aside - sustainable travel minded visitor audiences exist. Younger generations are uniquely aware and intentional about their impact on destinations, and seek out mindful travel and consumption decisions. Data shows that certain travel audiences value access to healthy and natural food options while in a destination, and some travel audiences value knowing that their travel footprint is minimal and they are supporting purpose driven causes - like sustainability and regeneration. Cannabis and hemp intersect with all of the above visitor audience themes, and this 'bread' story is an example of that. Not only does the cannabis and hemp plant sequester carbon efficiently, the seeds also offers nutritional value. In this case, the medium is bread, a great story that doubles as education. #cannabisbreadfactorytours#cannabisbreadbakingclasses#cannabistravel#sustainabletourism
Germany - How Will Germany Study Policy Related to the Visitor Economy?
Summary ""Officials in Germany are moving ahead with a scaled-back version of cannabis legalization. Adults over 18 could possess up to 25 grams of cannabis and cultivate three flowering plants in their homes...Dispensaries would be permitted in certain regions, with a five-year licensing structure for lawmakers to study their impact, part of the country’s compromise on legalization. Most people would need to acquire their cannabis from licensed “social clubs” similar to those seen in Spain. The social clubs would be limited to 500 members each, and on-site consumption is prohibited. The clubs could sell up to 50 grams of cannabis per month to those over 21, while adults aged 18 – 21 could buy 30 grams monthly. In addition, members can purchase up to seven seeds or five cannabis clones at the clubs for their home grows. Lauterbach noted “an opportunity — the opportunity to build the basis for a European cannabis policy with a well-conducted study.”" #progress#cannabistravel#cannabistourismCannabis Travel Association International
Travel Lens Commentary: Sounds like limited access, and not a great model to serve visitor economy development. If it rolls out this way, the visitor learning and much-needed data set will remain young and misunderstood, ultimately slowing down well-informed policy development related to ANY human visiting Germany (or Europe) and wanting to access cannabis experiences. No clear place to purchase cannabis for visitors, no clear place to consume cannabis for visitors, limited to 500 exclusive members for each club = not good. The visitor economy consideration needs to be rethought or revisited. According to WTTC's 2020 Economic Impact Report, during 2019, Travel & Tourism was responsible for 12.5% of the Germany's total workforce and generated €310.9 billion GDP (accounting for 9% of the German economy). Germany is one of the most visited countries in Europe and data from Statista shows that three of the top five most popular types of travel activities that draws visitation to the country directly intersect with the top interests of the cannabis-motivated travel audience - specifically time in nature and wellness travel experiences. #datadrivenstrategy#youneedthedata#visitoreconomyApplegarth Consultative Services
Comments