The Great Christmas Green Rush
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With Christmas fast approaching, this also brings us all things glittering in green and red décor. Christmas is a time for giving, it’s a time for sharing and being with family. But do you ever tire of the regular gifts which aren’t always sentimental and don’t always bring you that much joy? There could be an answer to the stream of terrible gifts and gifts which become useless over time.
Currently there is a clear emerging marketing which is steadily growing and gaining traction. According to Bloomberg, ‘The global cannabis industry is projected to reach $66.3 billion by 2025, according to Grand View Research, representing a 23.9 percent compound annual growth rate.’. With the markets growing demand for wellness and health products containing cannabidiol which is CBD and medical cannabis, the market is set to keep growing and gaining attention, (Bloomberg.com, 2019).
Prohibition Partners Report predicts that the international cannabis market could be worth up to US$103.9 billion by 2024
There are currently six countries which have put in legislation that covers the growth, sale, and consumption of cannabis, (Medrano, 2019).
This shows that the Green rush is in full swing.
With some analysts even predicting that the cannabis industry could even overtake the alcohol industry. With ripples already being seen in Colorado ‘Sales of marijuana have overtaken alcohol in a city in Colorado, three years after the state became the first in the US to legalise recreational use of the drug. Licensed vendors in the ski resort of Aspen raked in $11.3m (£8.2m) income from cannabis last year, compared to $10.5m (£7.6m) brought in by off-licences’, (Baynes,2019).
When thinking about what gifts to be giving this holiday season, you may want to be considering alternative gifts to the regular, more conventional gifts which are given.
With the young people of today facing much financial uncertainty it would seem that giving them something which has potential to grow would be the more appropriate gift. Setting your children up for a future that is prosperous, is nearly every parents desire. Make sure you do your research and know that not all investment opportunities are created equal. Some investments may offer more layers of protection than others to ensure that you don’t have major losses. Allowing them to enjoy all the things that life can offer. If you are worried about your child potentially struggling to get on the property ladder or even just worried about giving them financial freedom, investing on their behalf could be a great way to set them up for that prosperous future you have dreamed of them having, (Roth, 2019).
So maybe this Christmas forgo the traditional gifts and instead, give them a gift which just keeps giving.
Prohibition partners references available at https://prohibitionpartners.com/reports/#the-global-cannabis-report (Accessed 3rd Dec. 2019)
Roth, E. (2019). Investments in Your Children’s Future Are the Best ‘Gifts’ You Can Give Them This Holiday. [online] Entrepreneur. Available at: https://www.entrepreneur.com/article/324257 [Accessed 29 Nov. 2019].
Baynes, C. (2019). Marijuana sales overtake alcohol in US city for first time. [online] The Independent. Available at: https://www.independent.co.uk/news/world/americas/marijuana-sales-overtake-alcohol-colorado-aspen-ski-resort-us-city-weed-cannabis-a8202966.html [Accessed 29 Nov. 2019].
Bloomberg.com. (2019). Bloomberg – Are you a robot?. [online] Available at: https://www.bloomberg.com/press-releases/2019-10-04/top-2019-cbd-trend-this-is-what-s-gaining-traction-in-the-industry [Accessed 29 Nov. 2019].
Medrano, K. (2019). The Best Countries Around the World to Smoke Weed. [online] Thrillist. Available at: https://www.thrillist.com/vice/30-places-where-weed-is-legal-cities-and-countries-with-decriminalized-marijuana [Accessed 29 Nov. 2019].