Icelandic tourism has now discovered a new and interesting concept for a booming tourism industry. Firstly, it’s the gigantic financial implosion and secondly, the massive volcanic explosion. The collapse of Krona after 2008 financial crisis had made this Arctic island into a chosen destination for visitors. After two years, the eruption of Eyjafjallajokull volcano put back Iceland into world tourism map. Foreign news media poured into the island, providing stunning images of landscapes around, attracting potential visitors from all over.
Hence, Iceland benefitted from these two combined catastrophes of financial crash and eruption. As per recent tourist data, tourist numbers in Iceland are expected to outnumber the local population. Tourism is the number one industry in Iceland now. The rise of the Pirate Party can result in further influx of tourists. Iceland’s Tourist Board has said that the number of tourists has risen to around 30% every year for the last four years. In 2015, the revenue earned from tourism was $3.2 billion, with tourism being the single biggest employer in this country. Icelanders are now pouring more money into new services and constructions to attract more tourists.
Reykjavik is now a Scandinavian version of Singapore: clean, compact, rich and orderly. There are expensive cars, nicely maintained houses, chic coffee houses, posh restaurants and boutique hotels. Tourists come from as far off as Hong Kong to chase the Northern Lights and scale glaciers. Tourists also take interest in horseback riding, diving in the Arctic Circle, helicopter tours and flock to filming locations. However, there are growing concerns over uncontrolled tourism placing too much burden on this small island. Housing prices and rents are increasing and car rentals have tripled. This tourist boom is thus making many Icelanders concerned. Hence, many of them are putting their financial security into one of Iceland’s famous asset, i.e. its horses.
