by Donald Wood
Last updated: 9:54 AM ET, Tue April 12, 2022
Cannabis tourism has become a major contributor to travel in the United States, and Europe is also reaping the rewards, especially as international travel reopens and restrictions are lifted.
According to the European Cannabis Market Survey from Bloomwell Group, 80 percent of respondents said cannabis companies are attractive investment options, while 61 percent revealed they would invest in European cannabis stocks.
Additional key survey findings include 87 percent of respondents in favor of worldwide legalization and 65 percent of Americans saying they would travel to a city or country to experience its licensed cannabis market.
Respondents also reported positive feelings toward cannabis tourism, with more than 66 percent of the Americans surveyed saying they "would visit a cannabis dispensary or social consumption lounge" in Germany when legalized.
While countries like Luxembourg, Malta, the Netherlands and Switzerland are making strides in the cannabis industry, a new report found that international sales in Germany are expected to exceed $10 billion in 2026.
"Germany has 82 million inhabitants - that's more than Canada and California, two of the current biggest cannabis markets on the globe," Bloomwell Group CEO Niklas Kouparanis said. "Therefore, when Germany opens up for adult-use cannabis, it will become the biggest market in the world. The future language for cannabis will be German."
Data also found that Germany will have a demand for 400 tons of cannabis annually after legalization, which led to 80 percent of Americans surveyed saying they would support the U.S. exporting marijuana to European countries.
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