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Market
What will be the economic impact on local Thai cannabis businesses by end of 2024?
5
Resolution / Starting Odds
Significant Negative Impact • 33%
Moderate Negative Impact • 33%
Minimal or No Impact • 33%
Economic reports, business filings, and financial news
Story
Thai PM Announces Cannabis to be Re-Listed as Narcotic by 2024, Shops to Close by April 2025
May 16, 2024, 09:40 AM
On May 13, the Thai Prime Minister announced that cannabis will be re-listed as a narcotic by the end of 2024, with cannabis shops in Thailand set to close by April 1st, 2025. This decision has sparked significant backlash from cannabis advocacy groups, including Writing Thailand's Cannabis Future, academics, medical practitioners, and business operators. These groups have called on the newly appointed Health Minister Somsak Thapsutin to revise the government's decision. On May 16, dozens of Thai cannabis advocates urged the government on Thursday to abandon its plans to re-list marijuana as an illegal narcotic. The move to re-criminalize marijuana is seen as a threat to the nascent industry and the large community of weed growers in Thailand.
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Many businesses close • 33%
Businesses remain stable • 33%
New businesses emerge • 34%
Increased investments in Thailand • 25%
Divestment from Thailand • 25%
No significant change • 25%
Increased regulatory scrutiny • 25%
Growth • 50%
Decline • 50%
Improvement in public health metrics • 33%
Worsening of public health metrics • 33%
No significant change • 33%
Further restrictions • 33%
No change • 33%
Further liberalization • 33%
Yes • 50%
No • 50%
Positive impact • 25%
Negative impact • 25%
No significant impact • 25%
Data inconclusive • 25%
Significant Increase • 33%
Moderate Increase • 33%
No Significant Change • 33%
Increase in tourists • 33%
No significant change • 33%
Decrease in tourists • 34%