As cannabis sales continue to surge worldwide, savvy North American cannabis operators are looking beyond their borders. In this article, we’ll explore five international markets we believe are primed for long-term growth and well worth keeping an eye on.
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Germany: The EU’s Budding Star
Germany takes the top spot as our favorite cannabis market in the European Union (EU). With a sizable population and a nascent industry, we predict Germany is just at the beginning of a significant growth cycle. Once recreational cannabis is legalized, we anticipate a domino effect throughout other EU countries. Stay tuned as we monitor Germany’s progress in this burgeoning market.
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Australia: A Future Growth Engine
Though we’re bullish on Australia’s cannabis potential, it hasn’t yet become a substantial growth driver for companies operating there. However, we believe Australia will become increasingly attractive as more countries in the Southeast Asia region legalize some form of cannabis. Keep an eye on this developing market.
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Mexico: Latin America’s Crown Jewel
Mexico holds a special place in our hearts as the jewel of the Latin American cannabis industry. Although the government’s plan to legalize cannabis has encountered resistance from the Senate, we’re optimistic about Mexico’s prospects. If legalization occurs, it would serve as a significant catalyst for the entire cannabis sector. Stay informed and be prepared for potential growth opportunities.
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Israel: A Cost-Effective Powerhouse
Israel ranks high on our list of most attractive international cannabis markets, with companies already benefiting from rising sales. The cost of cultivating a gram of cannabis in Israel is much lower than in Canada or the US, resulting in more favorable economics for cultivation. Additionally, Israel’s strategic location allows for faster and cheaper shipping to the EU. Don’t overlook this small but mighty market.
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France: A Conservative Market Embracing Change
Last year, 31 French senators co-signed a letter advocating for a consultation process to propose recreational cannabis legalization. Despite the extensive and time-consuming path to legalization, this push by the senators highlights a shift in sentiment within this traditionally conservative market. Keep an eye on France as it navigates the legalization process.
Get Ready for the Green Wave
These five international markets are poised to make waves in the global cannabis landscape. As North American cannabis operators expand their horizons, be prepared for an influx of growth opportunities in these promising regions. Stay ahead of the curve and capitalize on the thriving international cannabis markets.
