I think this is a great move by the government to embrace the history of the plant on the island and that they will be successful in raising money and creating jobs as more facilities open. They are essentially opening their business to an unlimited market of cannabis consumers. One business will not be able to sustain demand for long and many more will enter in to fill the void. Looking at how much money a single state has made off taxing recreational weed sales, entrepreneurs in Jamaica should be hopeful.
In the calendar year of 2017, Colorado raised $247,368,473 in tax, license, and fee revenue from operating jamaica medical marijuana businesses (Colorado Department of Revenue). While Jamaica technically is only selling to patients, one site doctors open up their market significantly. A beautiful tropical climate draws plenty of tourists as it is, and a place like Colorado can’t compete with its location. That is not to mention the locals who choose to purchase their medicine from Kaya Farms and other dispensaries. I believe there are likely well-established suppliers on the black market that will remain in competition with facilities like they currently do in the states.
I know I would enjoy a trip to Jamaica much more knowing I’m already certified to purchase cannabis legally while on vacation. Not having to worry about finding a reliable dealer with a quality product would be a great relief. However, because the dispensary just recently opened a few months ago, prices may be inflated. This is likely to happen due to a lack of retail locations with medicine.
The quality medicine is going to be sold at a premium that surpasses local distributors. After letting the market develop and saving some cash, the vacation may happen for me.