A new survey has analysed America’s demand for cannabis tourism, investment opportunities, trade and more in Europe.
Bloomwell Group has carried out its European Cannabis Market Survey examining American cannabis consumers’ expectations and opinions of the burgeoning sector.
The results revealed that 80 per cent of respondents agreed that “cannabis companies are attractive investment options,” and 61 per cent shared that they “would invest in European cannabis stocks.”
Cannabis tourism
With potential legalisation looming in Germany, the survey demonstrated a positive response from respondents regarding cannabis tourism in Europe.
More than 66 per cent of those surveyed said they “would visit a cannabis dispensary or social consumption lounge” in Germany.
Read more: Germany’s approach towards cannabis is a lesson for Europe
Bloomwell Group CEO and co-founder, Niklas Kouparanis, commented: “Germany has 82 million inhabitants – that’s more than Canada and California, two of the current biggest cannabis markets on the globe.
“Therefore, when Germany opens up for adult-use cannabis, it will become the biggest market in the world. The future language for cannabis will be German.”
According to a BDSA report, international cannabissales will exceed ~$10bn in 2026, however, the bulk of that new legal spending will be driven by Germany, contributing ~$3bn by 2026.
65 per cent of Americans surveyed said they “would travel to a city or country to experience its licensed cannabis market,” while 44 per cent said that they would travel to Germany specifically for cannabis tourism.
American and Germany
The survey also addressed how America could potentially benefit economically from licensed cannabis markets in Europe. According to economist Justus Haucap, Germany will have a demand of 400 tonnes of cannabis annually if adult use is legalised.
To help meet that dramatic demand, 80 per cent of Americans polled say that the “US should export cannabis to Europe,” a practice that would potentially increase domestic revenue.
More than half of surveyed respondents said they are “aware that Germany will most likely become the largest legal cannabis market within the next three years.”
An overwhelming 87 per cent of respondents said that cannabis should be legalised worldwide.
Bloomwell suggests that the promising survey results coincide with its recent milestones that also illustrate global confidence in the European and German cannabis markets: the company closed a seed funding round of over $10m USD; Curaleaf’s Boris Jordan is a lead investor and board member.
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