Thailand's cannabis boom, which once saw thousands of dispensaries open across the country, has gone up in smoke a year after stricter regulations were reinstated, according to Inside Retail Asia.
The tighter rules have led to the closure of thousands of cannabis shops, dramatically reshaping the retail property market. Landlords who had converted spaces for dispensaries are now seeking new tenants, often at lower rents. The tourism sector, which had seen a surge in cannabis-related travel, is also adjusting as the novelty fades and legal uncertainties persist.
Industry observers note that Thailand's experience serves as a cautionary tale for other countries considering cannabis liberalization. The rapid expansion and subsequent contraction highlight the volatility of markets driven by regulatory changes rather than sustainable demand.