Tourists spend record amounts on credit cards in Iceland

Some 236,000 tourists visited Iceland last month.

Some 236,000 tourists visited Iceland last month. Photo: Iceland Monitor/Ófeigur Lýðsson

A record ISK 31.4 billion was spent on foreign credit cards in Iceland last month – up 31% on the same month in 2015.

This works out at approximately €237 million. According to the Icelandic Centre for Retail Studies, this is the biggest monthly figure on record, smashing the previous record of around ISK 26 billion set just one month before (June 2016).

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Rises in spending – as compared to July 2015 – were particularly high for everyday consumer goods (+45.6%) and organised tours (+43%).

Iceland saw 236,000 tourists last month, over 30% more than last year. This means that each tourist spent on average around ISK 133,000 (approx. €1,000) during their stay – a similar figure to that seen in July 2015.

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When broken down by nationality, it emerges that on average the Swiss are the biggest spenders in Iceland, putting an average of ISK 191,000 (approx. €1,440) on plastic each during their stay in Iceland.

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