Published on : Tuesday, January 17, 2017
Fishing was one of the prime economic activities of the people of Iceland for hundreds of years with aluminum production contributing equal stake on the country’s economy. In the recent context, tourism has overpowered both the industries in Iceland.
In the year 2016, almost 2 million visitors came to Iceland which almost four times the population of this country. If we look back, we can see that 2013 witnessed almost 781,000 visitors spending almost 275 billion Icelandic Krona which is tantamount to $2.4 billion outpacing fishing and aluminum industries for the first time. The tourism industry and its boom have had its cost as well with rising cost living, weakening infrastructure and government services have left people discontented.
As recession shook the stability of the economy of many European countries in 2008/9, Iceland underwent its slump two years later. Volcanic eruptions prevented air travel in many European countries along with Iceland.
In order to reassure the travelers, Iceland government and tourism industry created ‘Inspired by Iceland’ marketing organization in order to attract their attention and let travelers know that the country is safe to visit. The convenient location of Iceland played an important role in boosting its tourism to a great extent.