Canada Cannabis Industry Boosts $16B GDP, Supports 227,000 Jobs in 2024

In 2024, Canada's legal cannabis industry significantly boosted the national economy by contributing $16 billion to GDP and supporting over 227,000 jobs, according to a comprehensive report titled "High Impact, Green Growth" by the Canadian Chamber of Commerce in partnership with Organigram Global. The economic impact is divided into direct contributions from cannabis production and retail ($8.4 billion GDP and 168,000 jobs), indirect effects from the supply chain ($4.4 billion GDP and nearly 30,000 jobs), and induced impacts from consumer spending ($3.2 billion GDP and over 29,000 jobs). This sector's direct GDP contribution surpasses traditional industries such as forestry, breweries, and wineries, highlighting cannabis as a vital growth engine aligned with Prime Minister Carney's One Canadian Economy vision. Despite its economic success, the industry faces challenges from outdated policies and excise tax structures that constrain innovation, growth, and export potential, limiting Canada's ability to capitalize on a global cannabis market projected to exceed CAD $140 billion by 2026. Organigram Global's CEO emphasizes the need for bold national leadership to secure Canada's position as a global cannabis leader and to foster economic resilience. The report also underscores cannabis's growing agricultural value, with farm cash receipts surpassing other major crops in provinces like New Brunswick.