On June 28th, Mexico’s Supreme Court took a giant step towards the legalization of cannabis in Mexico. The court declared it unconstitutional to prohibit the recreational use of marijuana in Mexico.
While Mexico’s lower house passed a bill legalizing the recreational use of cannabis in March, the Senate is still gridlocked about approval. However, with the Supreme Court’s decisive ruling removing legal obstacles, lawmakers could be compelled to finalize legalization.
The bill’s current form would legalize adult use of marijuana and regulate its production for recreational, medical, and industrial purposes. Residents over the age of 18 could use marijuana and possess up to 28 grams at home as well as cultivate up to 6 plants for personal use. The bill also allows for the formation of cannabis associations for users to grow and share marijuana for their personal use.
According to Steve Rolles, senior policy analyst for Transform Drug Policy Foundation, a person could “travel from the Arctic Circle in Canada, down the West Coast of the United States, to Cancun on the Caribbean Sea, without entering a jurisdiction where cannabis is prohibited.”
The question remains as to how the decriminalization of cannabis in Mexico will impact tourism. Travel advisors are divided in their opinions. Some are of the opinion that, when similar laws have been enacted in other countries, they’ve become a fairly significant driving force for tourists wanting to explore a new country and experience the local culture. Others feel that it could keep tourists away, or have no real effect at all.
Potential pros and cons
Because of the inability of the Mexican Senate to come to a consensus about enacting a policy change, the Supreme Court voted to end criminalization on its own. What is fueling the debate in the Senate? Is it simply politics at work, or is it about money and/or power? What are the pros and cons of cannabis legalization in Mexico?
Advocates of decriminalization are pushing for the legislators to quickly pass the bill in order to put into place a comprehensive system of legal and regulated sale. They feel that an equitable market will address the harms of criminalization on certain communities in the country and also promote personal freedom.
With the legalization of cannabis, Mexico would represent the largest market in the world by population. The cannabis crop could become a huge business opportunity in a country whose economy has taken a beating as a result of COVID-19.
Critics of decriminalization feel that it’s unlikely to make a significant dent in the increasing rates of cartel-fueled violence. In addition, according to recent polling, approximately 60% of the people are opposed to it.
A new industry?
The cannabis industry in Mexico could be on the verge of becoming a major global player in 2021 and for years to come. As such, analysts are urging investors to start looking at investing in Mexican cannabis companies ASAP.
If you’re thinking about taking the plunge and investing in one of these companies, you may want to purchase a second home in Mexico for business as well as pleasure. Learn how to buy a house in Mexico while living in the U.S.