As only the second country and the first major economy to legalize recreational marijuana, Canada is set to benefit from a burgeoning industry.
Entrepreneurs and mega corporations are scrambling to take advantage of the new market. After weed officially becomes legal on October 17th, an innumerable amount of money will be up for grabs as consumers race to purchase the drug.
Dozens, even hundreds of products and businesses will likely emerge after legalization. Everything from weed resorts, to smoking festivals, to, after October 2019, weed bakeries will soon crowd Canadian streets and calendars.
One industry in particular is set to make huge gains: tourism.
Despite individual state laws that allow recreational marijuana, the drug is still illegally federally in the United States. Under the Trump administration, federal officials have adopted harsh punishments for marijuana users.
For American weed enthusiasts, Canada is about to become a haven.
Indeed, a new report predicts that weed tourism could bring up to two billion dollars annually to Canada.
Montreal will probably get a huge chunk of that sum. The city is already known as the unofficial festival and party capital of North America. A liberal attitude toward soft drugs combined with a competitive and trendy cultural landscape will likely make the city the premier weed destination in Canada.
Just imagine the dozens of restaurants, events, and activities that could eventually cater to a weed-savvy audience.
The city's proximity to major population centres in the Northeast United States will also make it more accessible to American tourists.
It won't be until a few months after October that official statistics about the economy after legalization become available.
But this first prediction is definitely encouraging!