Weak Icelandic krona benefiting tourists


Service takings from foreign tourists in Iceland have shot up over the last year, with each visitor now spending an average of 50 percent more than before.

The last quarter of 2008 and the first three quarters of 2009 saw spending by foreign visitors to Iceland increase considerably when counted in Icelandic kronur.

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The figures were reported in Islandsbanki’s morning briefing, saying that it is clear tourists are enjoying the low rate of the Iceandic currency and the increased purchasing power that brings. From this point of view, the Icelandic tourist industry and other services are benefiting from the weakened exchange rate.

The average tourist visiting Iceland is now spending around ISK 170,000 (USD 1,400) during their trip.