New Study: Cannabis Regulation to Generate at Least €4.7 Billion and Approx. 27,000 JOBS

Cannabis Industry: Sector is Ready – Conservative Estimate – Significantly More Jobs and Innovation Expected

Düsseldorf/Berlin, 2021-11-16:  Prof. Dr. Justus Haucap of the Düsseldorf Institute for Competition Economics (DICE) at Heinrich Heine University Düsseldorf (HHU) today presented the results of a new study on the financial impacts of cannabis legalization at a joint press conference with the German Hemp Association (DHV). The study estimates additional tax revenues of €3.34 billion and cost savings in policing and judicial processes of €1.36 billion, leading to a total fiscal benefit of €4.7 billion.

“This study provides valuable data for policymakers and the cannabis industry,” said Jürgen Neumeyer, Managing Director of The German Cannabis Business Association (BvCW). However, he considers these figures to be highly conservative. The actual benefits are likely much higher, particularly since numerous German ‘hidden champions’ such as equipment manufacturers, fertilizer producers, lighting companies, and others are poised to contribute significant added value.

Neumeyer added: “In the event of a political decision in favor of controlled and legal cannabis distribution, large parts of the German cannabis industry are ready to go. From our perspective, the medium-term value of a regulated cannabis market would unleash far more jobs and innovation than the cautious projections currently show.”

You can download the full study here: www.cannabiswirtschaft.de/wp-content/uploads/2021/11/Fiskalische_Effekte_Cannabislegalisierung_final.pdf

The cannabis industry recently published its 6-point plan “Cannabis Awakening 2021”, outlining the key demands for the coalition negotiations: www.cannabiswirtschaft.de/presse/aufbruch-cannabis-2021

Statements from political parties and key policymakers regarding cannabis policy can be found here: www.cannabiswirtschaft.de/aussagen-zu-cannabis