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  • Jamaica: The rise of psychedelic resorts in the shadow of the latest hemp business boom


    Although Jamaica has now become a hot investment hub for therapeutic and industrial cannabis, in light of the recent decriminalization of the plant on the island, in the shadow of the reform-related business boom, a new, related business has emerged that offers interested guests to try psilocybin mushrooms for therapeutic purposes. Several private and open resorts have already appeared on the island, which are developing this business area.

    The enterprises themselves, as well as the mushroom plantations supplying them, opened extremely quickly and without all the difficulties that the local cannabis business had recently faced. This is for the simple reason that, as it turns out, unlike cannabis and many other psychoactive substances, local laws never banned the production and sale of psilocybin or psilocin. Realizing this fact, investors flocked to the island to develop such a "gold mine", against the backdrop of growing interest in psychedelic therapy in the US and Europe. By the end of 2028, the global market for therapeutic psychedelics will be worth $8 billion by the end of 2028, according to analysts associated with the young industry. At the same time, its projected growth will only increase over time and with an increase in the global availability of such drugs. It is worth noting that at the moment, such resorts exist only in Costa Rica, as well as in the Netherlands and Spain, where they are more like private clinics and clubs for psilocybin users than similar types of establishments.

    The Jamaican authorities themselves are actively assisting investors in the development of such resorts. In particular, the state-owned firm Jamaica Promotions Corporation, which promotes the tourism business, reports that it is already a partner in the development of 4 such psychedelic resorts.

    “Obviously, this prospect promises the island as much profit as the market for therapeutic cannabis,” says vice director of the organization, Gabriel Heron, about the market for therapeutic psychedelics.
    “Only from a similar point of positioning the business, we can talk about a billion-dollar net profit. And this is not even touching on the issue of promoting this area from a recreational position.”

    MycoMeditations is one of these resorts located in Treasure Beach. The facility offers its clients a $23,500 weekly psilocybin therapy course with full residency at the center and the services of a trained expert.

    “Actually, I really enjoyed the course. Trust me, it's worth every penny!” praises Dean, a 41-year-old programmer from South Carolina, who has attended for the third time in the last couple of years.
    “A week-long course manages to fit much more experiences and useful experience than, probably, ten years of psychotherapy. In any case, the effect of the course of therapy is felt much faster and stays with me much longer, perhaps because of its depth and transcendence, which is difficult to achieve with simple talk therapy.”

    As it should be assumed, mostly wealthy Americans use the services of the resort, as well as an increasing number of guests from Europe every year. Most of the resort's visitors note that the procedures provided to them have had a very deep and tangible therapeutic effect.

    Although the market for psychedelics has never been formally banned, this fact also means that it is not formally regulated. Actually, now, the market for psychedelics exists in the gray zone of the laws of the country. However, apparently, such a status suits all interested parties, including the country's authorities. “At the moment, we have not developed a specific strategy for regulating this market,” the country's health minister, Christopher Tufton, said of the industry, while stressing that the authorities do not seem to be planning to consider developments of possible plans for regulating the industry in the near future.

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