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Why Iceland

Member of European Economic Area and Schengen

Fitch’s credit rating:
A with a stable outlook

GDP (nominal) per capital: $57,189 (5th highest)

Great location: 3-4 h from Europe, 5-6 h from the USA

One of the cleanest drinking water sources in the world

Iceland is an all-season destination with a peak in June-September.

The number of tourists is expected to rise by 30% in 2023 and additional 15% in 2024 to reach 2.1 million tourists.

All-season

ADR in hotels during the summer season of 2022 was 3rd largest in Europe - just after Geneva and Zurich, and way above London, Barcelona, Rome, Milan, Dublin, and other major cities.

Average daily rate

Hotels in Iceland had the highest occupancy rate in Europe before Covid, almost 90% throughout the year, and new investments were urgently required to accommodate the growth of the tourism industry.

Occupancy statistics

65.17%

Average room occupancy
during the past 12 months*

83.8%

Post-covid room occupancy in hotels*

+528.7%

4.2%

+420.4%

France

9.1%

Germany

+1220.0%

12.8%

UK

+51.5%

22.5%

+333.0%

Domestic

24.6%

USA

Guests by country:*

153.8%

% change from the past 12 months*

7,687,448

overnight stays between August 2021 and July 2022*

42%

of Icelandic export revenue comes from tourism***

286%

growth of revenue
from tourism Q2 2021 - Q2 2022****

World’s best country in terms of data protection

Global Peace Index: 1,107 (safest country in 2022)

HDI: 0.959, 3rd highest in the world

Gini coefficient: 2nd best in the world

Founding Member of NATO and OECD

**** Statistics provided by Statistics Iceland in Sep 2022

*** As per latest available data and expected to grow

** Based on visitor statistics at KEF for Jan-Aug 2022

* Statistics by Icelandic Tourist Board in Sep. 2022

7.6

Guests are staying 7.6 nights in average with germans staying 9.9 nights*

86.6%

airline passengers come on holidays**