Can Cannabis Save the Fallen Economy of Greece?


Medical cannabis became legal in Greece in June 2017, and many are hoping that cannabis will be what saves this Mediterranean country’s fallen economy. Where Greece was a country that once flourished, since 2008, there have been over 240,000 businesses that closed. Unemployment sits stagnant at a 23 percent. For people under the age of 24, 44 percent are unemployed.

Despite a Serious Downturn, the Economy in Greece is Looking Up…And Medical Cannabis Might Help Make it Even Better

There is however, some hope on the horizon. As bad as things have gotten, they’re starting to look up. Tourists are flocking to Greece in record numbers, with the revival of tourism creating over 181,000 jobs earlier this year.

Greece hopes to keep the economy on the upswing…and believes cannabis might just be what can save it. With a projected global market of $30 billion over the next four years, Greece could well be on its way to a financial backing of days gone by.

Qualifying conditions for medical cannabis patients in Greece include cancer, chronic and neuropathic pain, side effects of chemotherapy, and some eating disorders. The medical market for cannabis has potential to be huge, especially if the structure of Greece’s medical cannabis program takes the shape of California’s private doctor/dispensary facilities.

Full Cannabis Legalization Could Give Greece the Financial Boost It Needs

What’s more, if Greece decides to take the route of legalization seen in Uruguay, cannabis tourism could mean big businesses for those looking to take a Mediterranean holiday. Not only would it bring in the money Greece needs to rebuild its falling infrastructure, but would create jobs for residents of the country who are desperately in need.

It’s been reported that marijuana investors are keeping their eyes on the country famous for feta cheese, Greek honey, and beautiful beaches. According to Bloomberg, growers have “expressed interest in pumping more than 1.5 billion euros (1.74 billion USD) into projects to build green house parks for the cultivation and manufacture of cannabis.”

Prime Minister Alexis Tsipras had to say the following about this highly monumental move, “From now on, the country is turning its page, as Greece is now included in the countries where the delivery of medical cannabis to patients in need is legal.”

Greece’s medical cannabis program is scheduled to begin sometime after the first of the year.