BARCELONA, Spain – Most folks visiting this historic port city on the Balearic sea would focus on seeing tourist-facing sites like the huge and elaborate Sagrada Familia church or the Gothic district.
But I made finding a cannabis club a very high priority.
And this was for two reasons:
- Even though I use edibles to help me sleep at night, my wife and I dared not go through customs with contraband of any kind.
- Having talked to many of you members about global cannabis sales in the years ahead, I wanted to see firsthand how the sector is doing in Europe.
I’m happy to report that cannabis use and sales are on the upswing in this port city and that Europe is set to help drive a global market forecast to hit $15 billion this year.
The Future of Cannabis in Europe
Now then, let me be candid about one vital fact. Right now, North America has a clear lead in the high-octane cannabis field.
But based on my trip here last week, Spain and the rest of Europe are hot on our heels.
Bear in mind that this note is reaching you about a month after Canada celebrated its first anniversary of allowing recreational use for adults.
Because the nation is the world’s 10th largest economy and the largest fully legal nation, Canada has grabbed the attention of cannabis advocates and legislators in Europe.
And you may recall that after becoming the first state to approve medical use near 23 years ago, California went fully legal back on Jan. 1, 2018. It boasts the world’s fifth-largest GDP and is very popular with tourists, especially those from Europe.
Truth be told, as a bloc, Europe remains behind North America in terms of recreational use. But several nations have made some form of medical use legal in recent years.
Analysts say laws for recreational are starting to gain traction and that will only get better in the next few years.
A recent report by London-based Prohibition Partners suggest that in as little as a decade, the European cannabis market could be worth $66.8 billion. The firms predict medical use will account for about 66% of the market.
Against this backdrop, my wife and I probably had nothing to worry about in terms of bringing cannabis into Spain, at least not in the liberal enclave of Barcelona. Going through customs was a breeze.
And the folks that I talked to in Barcelona said that traveling though Spain or going to the lovely nearby island of Mallorca, where Tracy and I spent three splendid days, pose no real challenges.
Inside a Local Venue
When I think about my overall experience in this sophisticated city, I’d would describe cannabis as a “gray market.”
Let me explain. Spain has pretty much got a “don’t ask, don’t tell” attitude. Folks here that I talked to said that for small amounts of cannabis for recreational use, there is very little risk of arrest or going to jail.
Technically speaking, you are not supposed to transport cannabis, raising the question of how do you get marijuana home after buying it from a local vendor.
This is where my visit to a cannabis club came in pretty handy. I went to a club named Dragon Weed just a few blocks from our hotel. I had no issue gaining access, but I had to pay $20 for an annual membership to get inside.
Dagon Weed turned out to be an excellent club. They make a point of mentioning on their website that they have a great selection of cannabis from both Canada and California.
To be discrete, I’m not going to use any real names of the folks that work there. Bear in mind that this club, like most others in Barcelona, is on the down low.
You can find the address on line along with specific details on how to gain entrance. However, there is no company name at the storefront, which explains how I ran into a group of Germans asking me if they were in the right location.
When I got to the vestibule where you buy a membership, I mentioned that I have recommended cannabis stocks for my members and that I am an advisory board member of our sister service, the National Institute for Cannabis Investors (NICI).
After we chatted briefly in Spanish, I showed the door man, “Max,” my online bio about cannabis investing. Once he processed my membership, Max gave me a big smile and said, “keep up the good work.”
Once inside, a tall, lanky young man with tattoos, who I will call “Pete,” was very helpful. Of course, I was careful not to use the words “buy” or “acquire.” That’s a big no-no in Barcelona and can get you thrown out on the spot.
I saw several patrons just hanging out and using cannabis. The whole vibe at this private club was very relaxed.
Overall, my visit to Barcelona validated my belief that legal cannabis is an unstoppable global force. I believe Europe will go the way of the U.S., with legality happening with individual countries over several years rather than across the entire EU all at once – but it is going to happen.
And this helps explain why there’s such a bullish forecast for the global sector. By 2025, worldwide cannabis sales are expected to hit $146 billion.
My philosophy on cannabis investing is to take as much of a portfolio approach as your risk capital will allow. The industry is still too young for investors to look for outsize gains from a single stock.
With that in mind, I’m happy to report that I recently updated my comprehensive guide to cannabis investing. It’s called The Roadmap to Marijuana Millions.
I honestly don’t think you can be a fully effective cannabis investor without this guide. It’s 78 pages long and covers every aspect of the cannabis ecosystem.
In the Roadmap, we take a look at growers, biotech firms, dispensaries, edibles, micro caps and big-cap safety plays. There’s even a look at banking and venture capital, not to mention revealing why one of the world’s great software firms is a terrific backend play.
So, I highly recommend you get a copy of the latest issue of the Roadmap to Marijuana Millions so that you can quickly become a savvy player in this highly lucrative field.
To get your very own copy, all you have to do is click here.
Cheers and good investing,
Michael A. Robinson