The regulation of medical cannabis in Spain could bring significant benefits to both the local and international markets. By creating a well-defined legal framework, Spain would not only boost its economy but also enhance its standing in the global cannabis industry. As Bob Hoban, a renowned cannabis industry expert, points out, implementing a national regulatory system would unlock investment opportunities, facilitate the entry of sophisticated international business operators and provide a stable environment for growth.
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What benefits do you think the implementation of the regulation of medical cannabis in Spain could bring?
The nationwide commercial regulation of cannabis provides many benefits that are distinct from merely allowing businesses to exist, like the present status quo in Spain. When a business exists without certainty of licensure, it does not seek to become a good corporate citizen of that region and community. And when you make the license a right that is transferable, it creates a robust international market for that license and attached business operations. Without such a transferable license that provides rights to the holder, there will be no interest from sophisticated business operators.
Furthermore, enacting a commercial and regulated national pathway brings enormous international investment into a region, we have seen this countless times before and there is data to prove it. Absent a national framework, there is very little interest from an international marketplace perspective. Presently, the global marijuana economy is around $75B, with half of that in the US, and the other half the aggregation of the remaining global cannabis economy.
In other words, there is a lawful industry outside of the US that generates $35B in revenues and related investment opportunities. These sorts of investors seek to participate in the global cannabis economy, not merely own locally permitted clubs that are not tied to a national system. Enacting such a national measure would open up huge possibilities for the Spanish economy as a whole.
Bob Hoban is a cannabis industry legend and can be contacted here: www.BobHoban.com
