Cannabis has contributed $43.5 billion to Canada’s GDP since legalization: report

Cannabis has contributed $43.5 billion to Canada's GDP since legalization: report
Photo credit: Kym Mackinnon/Unsplash

TORONTO – A new report says cannabis has contributed $43.5 billion to Canada’s gross domestic product and $13.3 billion to Ontario’s since recreational pot was legalized in October 2018.

The report from Deloitte Canada and provincial pot distributor, the Ontario Cannabis Store, says about $25.2 billion of that contribution comes from labour income and 151,000 jobs.

The report says for every dollar in revenue or capital expenditures, the industry adds about $1.09 to Canada’s GDP and $1.02 to Ontario’s.

For every million dollars in revenue or capital expenditure, the cannabis sector sustains about four jobs in Canada and Ontario each.

The research also estimates that the industry has generated $15.1 billion in Canadian tax revenues and $3 billion for Ontario.

Consumer purchases alone generated $2.9 billion in sales and excise taxes.

This report by The Canadian Press was first published Feb. 1, 2022.

The Canadian PressThe Canadian Press

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