The tourism and hospitality industries’ opportunities have hit the roof. All thanks to the legalization of cannabis that bring about enormous masses from all around the world. With the recreational legalization in states such as California is playing a key role in attracting these tourists often known as ‘Cannabis tourists’ from all over the planet.
The legalization of Cannabis has resulted in an immense level of popularity of the Cannabis-themed attractions, bringing in all the cannabis fanatics to the first-timers. The chance of being a part of this cannabis-friendly time rose due to the distinct business ventures and attending the regular classes, as well as being able to relax at the cannabis-welcoming rancho resort. The comprehensive travel manual and the trip suites have arisen as a result of the rising markets for these drugs.
The nearby businesses have also benefit majorly from this rise in the markets for Cannabis. The Denver brought about record-breaking revenue just in the first year of its legalization. Back in 2014, 15.4 million visitors were drawn by this Cannabis-welcoming city overnight, these people spent around 4.6 Billion US Dollars. Out of these 4.6 Million US Dollars, 1.3 billion US Dollars were spent for housing, 913 million US Dollars for the eateries and resorts, while 579 million US Dollars was spent in the retail businesses. These Cannabis based markets are likely to make 22 Billion US Dollars through sales, let along alone in the U.S by 2020.
The affirmative financial and economic effects of this recreational cannabis were studied through a result that took place in Colorado. This showed the evident and promising results as to the emergence of new markets. CLS Holdings Incorporation of USA, Inc. successfully benefitted by entering the developing and rapidly rising markets in the areas of Nevada as well as Massachusetts. The Oasis dispensary of CLS is situated in Las Vegas downtown. That offers straight entrée to the 45m yearly travelers of the Clark Country. The enormous store could accommodate as much as 800 people at a time.