Europe Spends Over $10 Billion on Cannabis Each Year
According to a recent report by a joint EU watchdog, published on May 24, 2016; Europeans spend a colossal 24 billion euros ($26.8 billion) on illicit substances which, according to the report, fund crime syndicates and terrorism and“are one of the key threats to the security of the EU”.
The largest proportion of this expenditure goes to cannabis, which makes up 38% of the illegal drug market in Europe. That amounts to 9.3 billion euros ($10.4 billion). The majority of this cannabis is grown within European borders.
The report says 22 million Europeans have tried cannabis in the last year. This amounts to 6.6% of the population (between 15-64) having consumed cannabis in the last year, with 1% of the population using it on a daily basis. To put that into perspective, back in 2013 it was estimated that an average of 27% of the population in European countries smoke tobacco. According...
This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.
Follow us on Instagram
Connect with us on Linkedin