2019 has been a banner year for the US cannabis industry and has been highlighted by massive acquisitions and cross-country expansions. The recent developments have been significant, and we have been favorable on the way the US cannabis industry has advanced. The recent advancements have been beneficial for the companies that are levered to the US market and this is a trend that we expect to continue.
Over the next year, we expect to see further consolidation as the US cannabis market continues to become a more significant opportunity. Earlier this month, we visited Las Vegas and continue to be impressed by this cannabis market. One of the primary reasons for us being so favorable on the Las Vegas opportunity is due to the more than 42 million tourists that visit the city on an annual basis.
When a company is working to build a national (or global) brand, they need to be focused on several key markets. These markets are similar in the way that they attract tourists and bring the people to the brand. We are favorable on this strategy and believe it is a cost-effective strategy for a company that is trying to reach the largest possible markets.
One of the reasons why we are favorable on this strategy is because these tourists return home and remember the brands they came across. This creates a great opportunity for these brands once they enter the markets where these tourists live and believe that the Las Vegas market is the best market for accomplishing this goal for the cannabis industry.
We have been bullish on the Las Vegas cannabis market and this is an opportunity that we continue to closely monitor. Today, we want to highlight 3 cannabis companies that are levered to the Las Vegas cannabis opportunity and