Argentina has the potential to tap into a massive $1.697 billion economic boost if it implements comprehensive cannabis regulations for both medical and recreational use. This projection comes from the report “The Other Way to Go Legit: The Impact of Cannabis in Argentina” authored by experts Rolando García Bernado and Nicolás José Rodríguez. The authors highlight the significant economic and social benefits this burgeoning market could offer to the country.
García Bernado, an economic development PhD from the National University of Quilmes, a researcher with federal agency CONICET, partnered with Rodríguez, a journalist specializing in cannabis and finance. Together, they collaborated with the Chamber of the Cannabis and Industrial Hemp Industry (CAINCCA) and local universities to provide an in-depth view of cannabis’ economic impact on Argentina.
The Cannabis Market In Argentina: Economic Impact And Job Creation
The report, prepared in collaboration with the Cannabis Observatory at the National University of José C. Paz and the Interdisciplinary Cannabis Studies Laboratory at the University of Quilmes, estimates that regulating cannabis could yield up to $441 million annually in tax revenue. Specifically, the medical marijuana market alone could reach $834 million, generating $216 million in fiscal revenue.
Potential revenue from the cannabis industry could help fund vital infrastructure across Argentina. In a medical-use scenario, estimated tax income could fund:
726 miles of paved streets
515 miles of highways
145 high-complexity operating rooms
1,809 standard operating rooms
579 daycare centers
963 maternity wards
1,112 public labs
If adult-use cannabis was regulated, the revenue could cover:
1,178 daycare centers
1,960 maternity wards
2,261 public labs
2,108 miles of streets
1,054 miles of highways (or improve nearly 5,387 miles of streets)
The report also notes that the medical cannabis sector alone could generate about 62,000 full-time jobs, nearly on par with the automotive sector’s 65,000 jobs in Argentina. “This study shows that cannabis development in Argentina could be a significant economic driver, creating jobs …
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Author: High Times / High Times
