On August 23, Diplomat published our briefing on Edmonton’s potential to be a flagship destination for cannabis tourism and hospitality. In addition to the Edmonton briefing, Diplomat also believes in Canada’s potential to be a global leader in this sector. Last week, we sent our briefing to the tourism ministers in each provincial and territorial jurisdiction, provincial chambers of commerce, tourism organizations, and to the federal government. Today, we are publicizing our briefing for all Canadians and global citizens to view.

Canada has a wealth of amenities that entice tourists from around the world. With serene wilderness, beautiful expansive parks, and urban attractions coast to coast, and with an official motto like “A Mari usque ad Mare” (“From Sea to Sea”), travellers have always been confident in finding the experience they’re looking for in Canada. Now is the opportunity to build value-added experiences as well, as tourism and traveller habits evolve.

Of new cannabis used, 40% of them are between the ages of 35 and 54. With Canada’s median age of just shy of 42, the population demographic is largely overlapping with those of cannabis consumers to develop a strong domestic tourism base. With cannabis consumers also over-indexing on outdoor and active lifestyle interests, the Canadian landscape is sure to bring in international travellers.

ATB Capital Markets estimates 2022 Canadian retail sales may reach upwards of $5 billion CAD and Cannabis Benchmarks estimates the Canadian industry can withstand over 5100 retail stores. With over 3000 retail stores across the country as of May 2022, there is still substantial room for growth of the retail cannabis sales market, notwithstanding potential influx of international travel related sales figures.

Take a look at our briefing below and how we believe Canada can capitalize on this growing industry. Reach out to us today, to discuss how your business can grow alongside this exciting opportunity.