By Benji Garcia-Reyes
IG: @themedimexican
There are 56.6 Million Hispanics that make up 17.5 percent of the United States, which makes them the Largest minority group in the U.S. (2015 U.S. Census). Currently, there are 28 States that have some form of legalization for medical marijuana. Both are already a huge demographic in culture, society and more recently business. The future symbiotic growth of the two will generate billions of dollars in the next 45-50 years.
According to the 201 U.S. Census, 119 Million Latinos are estimated to populate the U.S. by 2060, and the marijuana industry is expected to set explode to $20 billion in revenue by the year 2020. The more Latinos join, innovate and add to the Industry, the more likely it is for those numbers to grow exponentially. That’s a boost of over $100 billion in the next 20 years.
Ironically, both the cannabis industry and Latinos have been underestimated, overlooked, and hampered by negative stigmas, but both, now set to combined, are sure to succeed. With Food products like Mexican Candy, Soda, Tamales, and tacos, just to name a few. Latino food and snack already do well and are very popular at most lunch time or leisure events. The added medicinal value allows for the Hispanic demographic themselves to get over internal cultural stigmas that have plagued them for decades. Including reaching out, connecting and breaking stigmas to older Hispanic generations, with edibles that are not just delicious, it also helps them with various type of ailments, previously dealt with pills & other prescriptions, that left most useless and groggy.
The state of California is one of three that will seem to benefit the most, they are home the largest Hispanic population in the U.S. Having high population cities like San Francisco, Los Angeles and San Diego, they will surely only grow.
There is nothing that can stop this trend, although there are a few things that can help expedite and solidify the Cannabis and Latino Explosion surge: the continuation to push for cannabis legalization, education and the emergence of the Latino leaders.
Because both Cannabis and Latinos are on an upwards trend, you can safely say “the money is in Cannabis and Latinos”. They can do a lot of good, are only growing and we are all starting to find out.
