Could New Jersey see increase in cannabis tourism? Industry leaders say it has potential to be a $1 billion industry
With recreational marijuana now legal in the state, could New Jersey see an increase in cannabis tourism?
Though the Garden State may not see activities like yoga cannabis classes any time soon, it could see consumption lounges.
Cannabis insiders say cannabis tourism is a $1 billion industry outside of dispensaries.
In the first day of legal recreational marijuana, New Jersey dispensaries served over 12,000 customers and grossed almost $2 million in sales, but cannabis industry insiders say there's more to the legal recreational market than just dispensaries.
Right now, only a dozen dispensaries in the state are allowed to sell recreational marijuana. As the emerging industry continues to grow, the state could see retail stores and even more cannabis-inspired travelers from other states.
Websites like Bud & Breakfast help travelers find cannabis-friendly accommodations.
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New Jersey may not see recreational marijuana-inspired attractions for a while, but the state has already seen consumers cross state lines to legally buy recreational marijuana, and insiders say that's a type of cannabis tourism.
"The law will permit dispensaries that have licensed to create a lounge off of that dispensary. That will create an opportunity for people to come from other places to utilize cannabis in a legal safe environment," says John Fanburg, of Brach Eichler Cannabis Industry Practice.
Industry leaders say cannabis tourism has the potential to be a billion-dollar industry in New Jersey as activities start to return to normal post-pandemic.
"That's not going to be immediate. We don't have that many dispensaries open now, so it'll take some time for it to get really cooking here," Fanburg says and adds that it could take a few years.
But as laws around recreational marijuana continue to evolve, that could also shape how cannabis tourism looks in the Garden State.
But will changes create a welcoming touristic environment? It might be too soon to tell.
"We do have attractions in towns and cities where we have tourists come to and will they add this as another reason to come visit the town, community, Atlantic City the attractions etc.?," Fanburg says.
The legal recreation market in New Jersey is still new and it's still months away from seeing the first retail stores and even farther away from seeing tourism centered around cannabis.