London’s economy is suffering as a result of the COVID-19 pandemic. If there’s one thing we can all agree on, it’s that. The question now is how quickly can we bounce back? In order to save one of the world’s most important economies, we need to be entrepreneurial, innovative, and bold. That’s why Londoners should embrace the rapidly growing CBD sector that’s revolutionising health and beauty industries.
The full impact of Coronavirus on the economy is yet to be known but the predictions make for grim reading. After the initial lockdown, economic growth was supposed to be high, making for a quick recovery. However, with local lockdowns and further restrictions being imposed, the resurgence of the economy has been slower than hoped.
The London metropolitan area accounts for a third of the UK’s total GDP, meaning that recovery here is essential. However, the economy is predicted to have shrunk by 16.8% in 2020, meaning we have a mountain to climb in 2021. Could CBD help to drive a substantial growth of more than 17%?
How Many Jobs?
As one of the fastest growing markets, CBD is an incredible job creator. The industry is expected to be worth £1 billion by 2025, up from £300 million in the UK today. Already, there are 1000 vacancies listed online for jobs in the CBD industry. This ranges from shop staff to marketers. Salaries start at £15,000 and rise to more than £100,000.
CBD is certainly big business. In a world where Coronavirus has created heightened levels of anxiety, this supplement could be a healthy way to restore confidence in people’s lives. As long as restrictions ease, this growing market will create thousands of new jobs from the lab to the store and beyond.
Boost to Overall Productivity
There’s another aspect to CBD that brings hope to the economy of London and the UK as a whole. This substance is a fantastic productivity enhancer. If the government was to subsidise and support its production, then increasing numbers of consumers will be using it. As a result, millions will experience improved concentration, better sleep, less pain, and less anxiety.
It’s impossible to calculate the total effect this would have but there’s no doubt that productivity would go through the roof. With people able to get more done in a shorter time, we could turbocharge economic growth just when we need it the most. Even if we continue to work from home, a few drops of CBD oil could see profits rise and economic activity increase.
CBD won’t save the economy on its own but it’s a part of the puzzle. Even in these tough times, it’s a rapidly growing industry which has created thousands of jobs. As unemployment in London and across the UK continues to increase, we need to become more innovative and creative about creating new jobs. If you’re interested in getting involved in the CBD industry yourself, then learn more at Cibdol.com.