The contribution of the medical cannabis industry to the Greek economy is estimated to reach approximately €60 million in the first year of production and exceed €1.2 billion over a 12-year horizon. According to Deputy Minister of National Economy and Finance, Nikos Papathanasis, Greece has successfully implemented reforms at a pace unmatched by other countries, creating an investment-friendly environment that reverses brain drain and establishes the country as a stable growth pillar in Europe.
Global Cannabis Market Prospects
The global cannabis market continues to grow significantly, with more countries entering the market in 2024 and 2025. In 2023, the global cannabis and cannabis oil market experienced notable expansion, with exports reaching a total value of $3.61 billion. This represents a 14.2% increase in value across all purchasing countries, underscoring the rising global demand for cannabis and cannabis oils.
The Outlook for Greece
According to Statista.com, Greece’s medical cannabis market has been experiencing significant growth in recent years. Patients in Greece are increasingly turning to medical cannabis products as an alternative form of treatment for various health conditions. The shift toward natural and holistic therapies, coupled with rising awareness of the potential therapeutic benefits of cannabis, has driven increased demand. Additionally, the evolving regulatory landscape has paved the way for more companies to enter the market and offer a wider range of medical cannabis products to consumers.
There is also a growing trend for research and development in the medical cannabis sector, leading to the introduction of innovative products tailored to the diverse needs of patients.
Greece’s favorable climatic conditions provide an ideal environment for cannabis cultivation, making the country a prime location for cannabis production. Its strategic geographic position also serves as a gateway for exporting medical cannabis products to other European countries. Moreover, the government’s supportive stance toward the industry is expected to further bolster Greece’s role in the global cannabis market.
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