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Two-thirds of Americans in a recent survey said they are willing to visit a cannabis dispensary in Germany, where lawmakers recently agreed on a plan to launch legal cannabis sales by 2024.
Americans also said they would consider investing in German cannabis dispensaries, with 80 percent saying that cannabis companies “are attractive investment options.” Another 61 percent said they would consider investing in European cannabis stocks, according to the survey from Frankfurt-based Bloomwell Group.
That’s all good news for German officials. The country is poised to become the largest country in Europe to legalize marijuana. Both Malta and Luxembourg have decriminalized cannabis ownership.
“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,” Niklas Kouparanis, CEO and Co-Founder of Bloomwell Group, said in a news release. “The future language for cannabis will be German.”
Marijuana laws in Germany
The German law legalizing marijuana is the result of efforts by a new coalition government that came into power in 2021. It includes the Social Democratic Party of Germany (SPD), the Free Democratic Party (FDP), and the Greens.
German officials have already decriminalized marijuana, and the country has a medical marijuana program. However, the coalition is taking the step of creating a system allowing people to purchase marijuana from licensed dispensaries, much in the way the laws work in 18 U.S. states.
According to DW, German companies hope to make billions of euros supplying recreational weed in their own country and other parts of Europe. The German government also expects to bring in billions from cannabis taxes.
A spring 2022 market forecast from BDSA predicts legal cannabis sales in Germany will reach about $3 billion by 2026.
Much like what happened in Colorado, when it became the first state to legalize adult-use marijuana, Germany hopes to draw tourists from across Europe who want to purchase and use legal cannabis.
Apparently, they can also count on American tourists if the survey results are correct. It found that 65 percent of Americans will “travel to a city or country to experience its licensed cannabis market,” and 44 percent said they would travel to Germany specifically for cannabis tourism.
Also, 66 percent said they “would visit a cannabis dispensary or social consumption lounge” in Germany. More than half said they already know that Germany is about to become the single largest cannabis market in the world.
The survey also added a humorous finding. Almost 75 percent of Americans in the survey said they consider pretzels, a specialty in Germany, a “satisfying munchies food.”