The marijuana industry in New Jersey has expanded by leaps and bounds since recreational sales were legalized there.
New Jersey has launched over two dozen dispensaries and held events like the 420 Expo, the first BYOC (Bring Your Own Cannabis) consumer expo in the state, as well as other trade shows and B2B networking events.
Actually, Curaleaf Holdings, Inc.
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CURLF has started selling at its Bordentown, NJ storefront.
And what about Cannabis Travel? A local news source has reported that these gatherings and enterprises form the backbone of a brand-new cottage economy known as “canna tourism.”
Winter Marijuana Tourism: a Sound Strategy
Each state that has legalized recreational marijuana for adults has developed its own unique economic model, providing tourists with a wide range of options in which to partake of the drug.
Pot has been promoted in unusual ways in legal marijuana states like California and Colorado, including wine and bud pairings, bud brunches, and weed-filled party buses.
For some cannabis smokers, a trip to a state where the drug is legal isn’t complete without a stop at a Others may be searching for tailor-made excursions that include cannabinoids like cannabis in their spa treatments, meals, yoga, or sightseeing.
Forbes estimates that the market for cannabis tourism will be worth $17 million by 2020. Forbes predicts that visitors will spend up to $4.5 billion on legal cannabis in 2021, generating an additional $12.6 billion in retail sales and taxes.
Visiting New Jersey’s Marijuana Dispensaries
According to Josh Alb, founder of the nonprofit education business Cannademix, which organizes events in New Jersey and New York that focus on education and advocacy for the plant, cannabis tourism on the East Coast is taking a different path than in other authorized states.
Most cannabis-related events in New Jersey feature both the legal and legacy marijuana markets, live music, food, product demos, and opportunities to network with other industry professionals.
“Tourists come to learn about the sector and immerse themselves in the local culture. Alb remarked, “People love to explore the shops, but they’re definitely hunting for the underground legacy market lounges and hidden infused menus at restaurants serving fantastic food.”
Legalization of Cannabis for Adult Use in New Jersey
Furthermore, the state has collected $4.6 million in tax income in just the first 10 weeks of sales, which has been achieved in less than seven months. Market conditions are improving.
Jeff Brown, the head of New Jersey’s Cannabis Regulatory Commission, said, “It is performing as we expect with the current number of dispensaries, the spread of locations, and the high prices.”