Economy

Spanish Medical Cannabis Industry Could Create 90,000 Jobs

The cannabis sector is in full market expansion. The capitalization of all listed cannabis companies now exceeds 80,000 million dollars.

Marijuana is known by most citizens. And your business does not stop growing. In Spain, there are 200,000 medicinal cannabis users and 4 million recreational users, as pointed out by Bernardo Soriano, CEO and co-founder of S & F Abogados at the financial breakfast of Investing.com. However, its use is not regulated in the country. Soriano explains that in Colorado, with less territory and population than in Spain, sales represent 4,045 million dollars in sales.

If these data are transferred to Spain, sales would amount to 53,000 million dollars and generated taxes would be 9,100 million dollars between 2014 and 2018. In addition, the regulation of cannabis would also have an impact on employment, since 90,000 jobs would be generated. Work throughout the supply chain. For this reason, it considers a regulation necessary as in other countries, although it clarifies that “there is still much to be done despite the fact that the US, Uruguay or Canada are progressively regulating the situation”.

However, in Spain, the situation is completely stopped and as Soriano adds with the changes of governments and the elections, nothing has been able to advance. Nonetheless, Unidas Podemos is the only political organization that is totally partisan of its regulation and Citizens is committed to the regulation of the use of medicine. “The PSOE is not about the work, you do not want to get into this. Everything is in neutral, so it is difficult to get it out, “says Soriano.

According to experts, the regulation of marijuana in Spain is not treated because it still seems a taboo subject. The only existing regulation is 1967 and it is for production and export. For now, only three companies have that regulation: “Re-regularizing something that in the 70s was thought to be very bad for health, still costs. It is to make transparent something that was banned, but it has demonstrated the therapeutic benefits it has, “says Soriano.

For his part, Juanma Fernández, commercial director of MJ Freeway Spain and CEO of SmokApp, explains that the prohibition always makes it more attractive. His company provides the necessary software to companies throughout the cannabis chain, and notes that “they shed light to do everything possible for society to have security.” For his part, Pablo Gil, director of Trading Method and market strategist at XTB, points out that what has to be done is promoting responsible consumption and that people understand their risks, not banning it.

HOW TO INVEST IN CANNABIS?

Despite its limited regulation in many countries, cannabis on the market does not stop growing. And in the words of Pablo Gil, he has more power and is “in full expansion”. A study conducted by XTB, the world cannabis market is valued at more than 340,000 million dollars. At the moment, more than 30 countries have legalized some type of medical cannabis.

Because of this industry growth, marijuana is becoming a business in which to invest. In fact, the capitalization of all listed cannabis companies now exceeds 80,000 million dollars and there are more than 200 cannabis shares listed on the international stock market. Before investing, as Pablo Gil explains, we must know what the cannabis market is like in the investment.

The XTB expert warns that it has a “huge” volatility of around 60% and that its revaluation in the last 12 months has been 0%. “Everything new involves its risks,” he says. But he also points out that the sector has revalued 414% in recent years and ensures that for investors with a “high risk” profile it is always a good option.

Pablo Gil explains that one of the options to invest in marijuana is the BITA Global Cannabis Giant Index is a good option since it aims to bring the global investor to the market for cannabis and medical marijuana. These companies operate mainly in Canada, so this index “allows positioning in this cross-sectional market”.

On the other hand, MJ Freeway created Akerna, the first cannabis company listed on the Nasdaq. “The first day of trading tripled the value,” says the company’s commercial director in Spain. Currently, the title has a cost of more than 14 dollars.

(Source: The Economy Newspaper)

Source: Zambia Reports

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