through sales, taxes and other benefits due to competitive market and security associated costs. Given that cannabis is still unlawful, law enforcement costs remain high.
Figure Showing Grenada Results
10.7. Given the fact that the Caribbean is now re-entering the medical marijuana market, albeit having been among the first to enter it (with the research and patent for a drug for glaucoma), 205 some opportunities and important gains may already be lost to corner this market. Realistically too, the Caribbean lacks the resources to undertake comprehensive scientific research on its own. This points to important opportunities for partnership research with better-endowed, world-class scientific institutions, a model which is already well established at the UWI for a variety of research initiatives. Alternative, the Caribbean can sell itself as a provider of the bare product. The latter has significant limitations as discussed below, although that process has already started, with large Canadian and other firms lobbying for stakes in the Caribbean market. 10.8. There is also economic potential for cottage-type industries, including nutraceuticals, already emerging in Jamaica. These can offset the high costs of pharmaceuticals in the region, but are likely to exist in similar fashion to other alternative health products which, incidentally, are not regulated. Given the touted superior quality of the cannabis/ marijuana grown in the Caribbean, there appears to be potential for developing niche markets and the economic benefits that it will bring. 10.9. While the commissioned Economics Study for this Report illustrates that the black market for cannabis perhaps cannot be eliminated entirely, it is apparent that the more the illegal labels are removed from the law, the less room is left for the continuation of black markets and their unwelcome spin-offs of criminal behaviour.
Tourism and Cannabis
10.10. There is potential for the use of cannabis/ marijuana for developing the medical cannabis/ marijuana and recreational cannabis/ marijuana tourism markets. All of these policy decisions will require targeted law reform. For example, the amended Jamaica law 2015 does not fully liberalise the tourist market. Rather, it requires visitors to obtain a special permission to access cannabis/ marijuana. The various regulatory models are discussed in a following section. 10.11. Cannabis tourism, a bourgeoning phenomenon in Denver and Colorado and more established in The Netherlands, is a significant income generating opportunity presented by liberalization of marijuana laws which could contribute to national revenue both directly and indirectly206. For instance, in Colorado point-of-sale data for the first six months of 2014 showed that close to 50% of sales stemmed from visitors to the state207 and there was also evidence of thriving businesses that specialized in cannabis tours, the provision of cannabis friendly accommodations, and the serving of cannabis infused foods 208. Similarly, in the first year of legalization Denver encountered 15.4 million overnight visitors, who spent a record of $4.6 billion; with $1.3 billion expended on lodging, $913 million at restaurants, and $579 million in retail. This State therefore experienced double and triple gains compared to the prior period.209
205
West ME, Homi J. Cannabis as a medicine. Br J Anaesth. 1996 Jan; 76(1):167
Kang et al (2016); Light et al (2014) 208 Genovese (2016) 209 Kang et al (2016) 206 207
55