April 22, 2024

OsoyoosToday

Complete Canadian News World

Marijuana legalization adds $ 34.3 billion to Canada’s GDP | The world

Legalizing cannabis for entertainment in Canada in October 2018 contributed about $ 43.5 billion (approximately $ 34.3 billion) to the country’s gross domestic product (GDP), according to a study by Deloitte.

The study analyzes the economic and social impact of the controversial activity Canada Was the first country in the industrialized world to legalize the recreational use of marijuana.

Deloitte points out that legalization has created about 151,000 jobs in three years, amounting to about $ 25.2 billion (US $ 19.86 billion) in GDP.

For every million dollars in revenue or capital expenditure, the legal cannabis industry supports four jobs, according to the company’s calculations. Ontario, the country’s most populous and economic machine that has created 48,000 jobs, has the highest employment-based province.

In addition, since 2018, the North American country has received $ 15.1 billion (US $ 11.9 billion) in taxes in this sector.

In three years, the sector has generated sales of C $ 11 billion ($ 8.7 billion) and capital expenditure of C $ 29 billion ($ 22.9 billion).

The authors of the report also noted that the cannabis sector may still exist.Make a greater social contribution to Canada“And you have to answer”For its significant environmental impactIt is generated by energy consumption, carbon emissions and waste production.

Deloitte emphasized this point. “It does not reflect“It needs to be improved for Canadian society”Diversity, equality and contentBecause 72% of the executives and directors of companies Cannabis They are white men.

The diversification of this sector is important because ethnic minorities in Canada have “historically suffered proportionately from arrests for possession of cannabis” although the levels of use were more or less the same as in white communities.

READ  The starting value of the dollar in Canada on May 27 is USD to CAD