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High Tide
Newsweek US
|January 27, 2023
Riding the tidal wave of Canada’s cannabis success
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Considered the gateway to the USA, Canada's prime location allows investors easy access to a global network of trade deals spanning 51 countries. Canada ranked 23rd for ease of doing business according to the World Bank's 2020 annual report and provides international investors with a stable, highly dependable, low-tax business climate to springboard their global access.
In October 2018, Canada became the first G7 country to legalise cannabis for recreational use and now has the first-mover advantage to become a world leader in cannabis exports. Canada's cannabis industry contributed CAD 43B to its national GDP between 2018-2021, according to Deloitte, serving as a major impetus for the EU's biggest market for cannabis - Germany, to pursue their own legalization plan.
This story is from the January 27, 2023 edition of Newsweek US.
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