THE BAHAMAS RESULTS In The Bahamas, data were available to estimate four (4) potential benefits, including Excise revenues from marijuana sales, estimates of revenues from marijuana licenses fees, Fees collected from marijuana possession. Data availability allowed for two (2) costs impacts to be examined: Additional marijuana-related health costs and estimates of additional costs from marijuana-related vehicular accidents. In the Bahamas, model 3 yielded the lowest benefit (BSD$4.76 million) followed by model 1 (BSD$5.34 million). The highest costs were estimated to occur under model 3 (BSD$1.14 million). In all instances, estimated benefits substantially outweighed estimated costs.
THE BARBADOS RESULTS In Barbados, data were available to estimate three (3) potential benefits, including Estimated marijuana-related excise revenues, costs averted from marijuana-related arrests and costs averted from marijuana-related incarcerations. Data availability allowed for two (2) costs impacts to be examined: Additional marijuana-related health costs and additional marijuana-related vehicular accidents costs.
In Barbados total benefits were most significant under model 2 (BBD$4.51 million) and least substantial (BBD$ 0.999 million) when the assumptions of model 1 were applied. Estimated costs varied between BBS$0.57 million and BBD$0.83 million.
Conclusions – Economic analysis As the region contemplates the way forward regarding the legal treatment of issues relating to marijuana, an important fact has become apparent. While 2015 estimates show that between 128.1 million to 237.9 million people worldwide consumed marijuana [1], in the region this figure varies substantially. The same can be said about the effects of the substance’s use on law enforcement activities along with other aspects of the marijuana market. These realities highlight the fact that individual country situations are not homogeneous. Furthermore, the literature and the analysis have demonstrated that such policies can result in varied outcomes for each country. So that whereas some countries may experience significant benefits from a change in the marijuana legal framework, 83