Medicinal Cannabis in Barbados: An Industry Poised for Growth
Deloitte's contribution to Business Barbados, 2020
Our team share their insights on potential avenues for Barbados to capitalize on the merging, multi-billion-dollar global cannabis industry, as a framework to facilitate the legalization of medicinal cannabis in Barbados is in the works.
The legalization of medicinal cannabis marks a significant transition for a conservative Barbadian society. However, to maximize Barbados’ global market share and overall impact of the cannabis market, the government will need to complete proper due diligence, which includes considering social opposition, sensitization process and socio-economic factors. Nevertheless, this dynamic and sophisticated sector can be a catalyst in creating new jobs, new opportunities for local businesses and new revenues for the government. The legalization of medicinal cannabis also presents great opportunity for international investors.
