Cannabis Trade Show Organization, CWCBExpo, Shares Ten Facts Surrounding The Cannabis Industry

Cannabis Trade Show Organization, CWCBExpo, Shares Ten Facts Surrounding The Cannabis Industry

PARAMUS, N.J., May 1, 2018 /PRNewswire-iReach/ -- Cannabis trade shows company, CWCBExpo, shares ten facts that relay relevant and useful data about the marijuana industry.

Debate over cannabis legalization drives several important discussions. While experts debate facts vs. myths and the public talks about whether legalizing cannabis would disrupt illegal drug trafficking, it's essential to look at industry facts as these are what will drive decision making, and ultimately, policy.

10 Facts about the Cannabis Industry

    1. Marijuana is legal in more than half the United States.
    2. During the first year that cannabis was legal in Colorado, the mid-west
       state collected approximately $70 million in tax revenue from its
       sales--nearly twice the amount collected from the sale of alcohol.
    3. Compared to the national average, more women hold executive positions in
       the cannabis industry than men.
    4. In the marijuana industry, approximately 63% of senior-level testing lab
       positions are held by women.
    5. Colorado, Kentucky, Minnesota, Nevada, New York, North Carolina, North
       Dakota, Oregon, Tennessee, and Vermont are the top ten hemp-growing
       states of recent years.
    6. The first dispensaries opened in Hawaii in 2017. Now, there are over
       20,000 registered medical marijuana patients in Hawaii-- the largest
       growth in registered users occurred in 2017 when the dispensaries opened.
    7. Germany has one of the largest medical marijuana markets in the world, if
       not the largest. This year it imported most of its cannabis from Canada.
       Germany also imports cannabis from the Czech Republic, Australia, and
       Israel.
    8. Between 2016 and 2017, word of mouth advertising was the most effective
       form of marketing for ancillary cannabis businesses. Social media
       marketing was the most effective form of advertising for plant touching
       businesses.
    9. On average, one-quarter of marijuana businesses are owned or founded by
       women--this includes approximately 43% of ancillary services firms, 33%
       of testing labs, 30% of ancillary tech and product companies, and 26% of
       medical marijuana and recreational retail companies.
    10. On average, minorities hold approximately 17% of senior-level positions
        in the cannabis industry--that's 4% more than the national average.

About the Cannabis World Congress & Business Exposition

The Cannabis World Congress & Business Exposition (CWCBExpo) is a business-to-business trade show event for the legalized cannabis industry. It is held 3 times per year in the largest media, financial and business markets: New York, Los Angeles, and Boston. It is the leading forum for dispensary owners, growers, suppliers, investors, medical professionals, government regulators, legal counsel, and entrepreneurs looking to achieve business success and identify new areas of growth in this dynamic and fast-growing industry.

Media Contact: Matthew Bailey, Cannabis World Congress & Business Exposition, 551.497.4910, mbailey@leexpos.com

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