The Cannabis Movement of Saint Lucia believes that Saint Lucia stands to gain millions of dollars from the establishment of a ganja industry here.
The Chairman of the Movement, Andre de Caires estimates that there is a local recreational industry worth $50 million a year.
“12.5 VAT on that is $6.2 million dollars on just the recreational industry alone. Then 400,000 people stay in Saint Lucia every year for seven days or more and then 400,000 more people visit on cruise ships,” de Caires observed.
He explained that it means 800,000 tourists visit Saint Lucia.
“If 20 percent of them decide to spend $US 50 on cannabis, that means its a heavy amount of money and that is probably another 4 to 5 million dollars – so we could probably put between 10 and 15 million dollars in the coffers alone on just taxing the recreational,” the Cannabis Movement Chairman told St Lucia Times.
de Caires disclosed that persons from overseas have already sought out the Cannabis Movement because of an interest in doing medicinal extracts from ganja.
“So obviously there could be a tax on these extracts,” he stated, adding that the figure could run into millions of dollars.
He expressed the view that Saint Lucia could earn between 10 and 20 million dollars in tax revenue from a ganja industry.