Cannabis tourism offers ray of hope for battered industry
As the first nation in Southeast Asia to legalise its medical use, a unique market opportunity in catering to wellness and luxury tourists is emerging.
Thailand became the first country in Southeast Asia to legalise the production, import and export of cannabis for medical purposes in 2018, following an amendment of the Narcotics Act to allow broader use for business opportunities, including tourism.
According to the “Asian Cannabis Report” conducted by Prohibition Partners, the market value for the legal cannabis industry in Asia is projected to reach US$12.5 billion (392 billion baht) in 2024.
The value of the cannabis industry in Thailand is estimated to be $661 million, with $237 million from medical cannabis and $424 million from the recreational cannabis market, which is not yet legal.
As awareness of medicinal cannabis grows, cannabis tourism has strong potential to help the tourism industry recover from its record slump caused by the pandemic, said Jacky Ong, president of Cannabis Investment Summit World, a cannabis virtual event in Thailand.
Cannabis tourism should…
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Cannabis tourism offers ray of hope for battered industry
As the first nation in Southeast Asia to legalise its medical use, a unique market opportunity in catering to wellness and luxury tourists is emerging.
Thailand became the first country in Southeast Asia to legalise the production, import and export of cannabis for medical purposes in 2018, following an amendment of the Narcotics Act to allow broader use for business opportunities, including tourism.
According to the “Asian Cannabis Report” conducted by Prohibition Partners, the market value for the legal cannabis industry in Asia is projected to reach US$12.5 billion (392 billion baht) in 2024.
The value of the cannabis industry in Thailand is estimated to be $661 million, with $237 million from medical cannabis and $424 million from the recreational cannabis market, which is not yet legal.
As awareness of medicinal cannabis grows, cannabis tourism has strong potential to help the tourism industry recover from its record slump caused by the pandemic, said Jacky Ong, president of Cannabis Investment Summit World, a cannabis virtual event in Thailand.
Cannabis tourism should…