Germany’s medical cannabis program has grown by leaps and bounds and you don’t have to be too knowledgeable about Europe to know the influence that the German economy has on the region. The International Cannabis Business Conference (ICBC) has grown right along with Germany’s cannabis market, and the Berlin event has become the ICBC’s flagship with more than 1,200 people from 60 nations in attendance. The recent ICBC in Berlin was an epic success, setting up ICBC Zurich with CannaTrade on May 15-16, and Die Welt, one of Germany’s most influential newspapers (third in circulation), took notice, covering ICBC Berlin:
A scent of marijuana is in the air on Friedrichstrasse in Berlin. A whole crowd of participants of the “International Cannabis Business Conference” (ICBC) produces a cloud of smoke with the typical grass smell in front of the entrance to the Maritim Hotel.
1200 business people have paid hundreds of euros for their ticket, have traveled from Portugal, Canada, the US, Israel and other countries – just to attend this conference. ”The market is booming,” says its founder Alex Rogers in early April in Berlin.
Since 2017, there is medical cannabis in Germany on prescription. In the industry, it is estimated that the market potential in Germany is 800,000 patients, currently there are only 40,000. Overall, the statutory health insurance companies took over about 185,000 prescriptions in 2018, gross sales: about 74 million euros. In addition, the cultivation in this country should begin in 2019.
The young market is creating a craze – with consultancies, technology companies, importers, and investors promoting Roger’s conference. But what about the boom? Will not rapeseed and hop fields soon shape the German landscape, but greenhouses with cannabis plants? ”Berlin is the biggest of our conferences this year. Bigger even than the events in Canada and the US, “says Rogers. As some of the participants hope for legalization worldwide, others focus on medical cannabis.
(Unfortunately, the full Die Welt article is behind a paywall, but you can sign up for a free 30 day subscription.)
As legalization, both for medical purposes and adult use, continues to gain momentum across the globe, we will certainly see even more mainstream coverage from major publications like Die Welt. The ICBC looks forward to connecting investors, entrepreneurs, and advocates together to create more revenue, jobs, and freedom around the world. Next up: Zurich, Switzerland! (Discounted early-bird ticket sales available until April 24th.)