QUEBEC, CANADA – According to study, there can be a significant increase in economic growth once marijuana is legalized in all parts of Canada. The recreational marijuana industry, once become legal, is perceived to affect the sales of the annual Canadian alcohol revenue.
Legalization of marijuana can make the Canadian alcohol industry suffer great losses. This is because more people would be inclined to use pot since it’s becoming readily available everywhere.
According to a study conducted by a business consulting firm based in New York, the Anderson Economic Group, a massive loss could be observable. A total of $160 million could be stripped off the $22.1 billion revenue of the alcohol sector of Canada once the pot is legalized. It will increase as the years go by which result to an alarming amount that concerns the alcohol industry.
Other reports claimed that the sale of marijuana is consistently steady over the years. It maintains its record of 34 to 46 percent compared to the sale of the boost which is dropping with an average of 5.5 percent per annum.
Although the largest alcohol brewer in Canada is not much worried about the impact of legalized marijuana on the sales of alcohol, it is still something that they should study. According to the head of Molson Coors Canada, he is not much sure about the possible adverse impact of legalized pot to the future of the alcohol industry. The reports are believed to be of different display data, but he is watching very carefully.
Another Brewer, president of Beer Canada Luke Harford, stated that they have other factors to consider in the sale of alcohol. He said that aging and high tax are the main factors that they worry about.
Most of the brewers are not that thoroughly concerned since they think that alcohol has been and will always be part of the culture of the Canadians. They believe that a lot has been presented that might become a competitor of alcohol and marijuana is just one of them. Alcohol for them came with a long history and has been a huge part of cultural celebrations, not marijuana.