New Report Forecasts $40B Global Cannabis Market by 2024

The US is expected to remain by far the largest market on the planet. June 22, 2019 4 min read This story originally appeared on Benzinga Arcview Market Research and BDS Analytics have published the seventh edition of their “State of Legal Cannabis Markets” report. In regulated markets, U.S. cannabis sales surged by 20 percent in 2018 and are on track to jump by another 36 percent this year, the report said. $40B in sales by 2024 The growth of the global cannabis market comes on the back of liberalization in existing markets and new countries introducing laws legalizing medical use. BDS Analytics and Arcview said Luxembourg, Mexico and New Zealand are at the forefront of legalization, alongside South Korea and Thailand, both of which recently approved medical cannabis. In Africa three countries — Lesotho, South Africa and Zimbabwe — have cannabis development programs. These countries and others will bring spending outside North America to $5.8 billion by 2024, up […]

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‘A New Year’s Gift:’ Thailand Approves Medical Marijuana

The Southeast Asian country becomes the first to do so. December 27, 2018 1 min read Big news out of Thailand. The country’s National Legislative Assembly made an amendment to the country’s constitution that legalizes the use of cannabis for medical and research purposes. The vote wasn’t even close: 166-0.  Related: Uruguay Legalized Marijuana and the Crime Rate Has Plummetted Somchai Sawangkarn, one of the lawmakers who helped write the legislation, said it was  “a New Year’s gift from the National Legislative Assembly to the government and the Thai people.” Thai farmers are stoked about the decision.  “I expect Thailand can make 100 billion baht a year ($3.07 billion) from growing cannabis and selling the raw material and cannabis oil,” chairman of The National Farmers Council of Thailand, Prapat Panyachartrak, told Agence France Presse. But don’t go lighting up a celebratory spliff in Bangkok just yet. The recreational use of marijuana […]

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7 Rules for Shipping Internationally

Win over customers with an affordable and predictable buying experience. June 8, 2018 6 min read Opinions expressed by Entrepreneur contributors are their own. If you haven’t already started selling internationally, it is time to start! According to Statistica, from 2014 to 2021 worldwide ecommerce sales will grow almost 246 percent, from $1.3 trillion to $4.5 trillion. The global competition for customers is increasing, with a significantly growing number of shoppers buying from sellers across international borders, including 83 percent of shoppers in Canada, 81 percent in Brazil and 78 percent in Mexico, according to the global UPS Pulse on the Online Shopper study. In the U.S., nearly half (47 percent) of shoppers purchased from merchants outside the U.S. Related: 7 Tips for Reducing Your Shipping Costs Smaller ecommerce companies often turn to marketplaces like Amazon and eBay to support selling internationally. Marketplaces like these allow customers to make international purchases […]

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