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Since the collapse of its economy in 2008, Iceland has experienced rapid growth in its tourism sector. The country’s spectacular landscapes, volcanoes, glaciers and hot springs are becoming more popular than ever – foreign visitors increased by 15.9% last year.
According to the Icelandic tourist board, travel now accounts for 5.9% of Iceland’s GDP. Thanks in part to the expansion of tourism, Iceland’s economy is predicted to grow by 2.7% this year and unemployment will fall to 5.7%.
Olafur Ragnar Grimsson, Iceland’s president, hopes that by 2020 Iceland will attract close to two million visitors a year. Iceland currently attracts 600,000 visitors a year; nearly double the country’s population.
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