News Tagged with “Economy”

Numerous Cruise Ships Arrivals Canceled

28 Apr The number of cancellations of cruise ship arrivals in Icelandic harbors keeps increasing, since no one knows when cruise ships will resume sailing.

Prime Minister Katrín Jakobsdóttir and Minister of Transport and Local Government Sigurður Ingi Jóhannsson, at yesterday's press conference.

Second Economic Stimulus Package Introduced

22 Apr The Icelandic government introduced the second phase of its economic measures yesterday, intended to limit the economic impact of the COVID-19 pandemic.

Unemployment Rate Soars in Iceland

21 Apr During the COVID-19 pandemic, the unemployment rate in Iceland has soared.

Several Small Hotels for Sale

17 Apr About a dozen small hotels or hotel apartments are for sale in downtown Reykjavík

Only 99 Passengers at KEF Airport over Easter

16 Apr Over the Easter weekend, 99 passengers went through Keflavík International Airport, compared with more than 84,000 during the same weekend last year.

There is not much traffic in Reykjavík these days.

Icelandic Travel Industry in Serious Trouble

7 Apr Half of all companies in the Icelandic travel industry are in danger of going out of business if not enough is done to save them.

From the offices of the Directorate of Labor.

Up to 13 Percent Unemployment Rate Forecast for April

1 Apr The Directorate of Labor estimates that reported unemployment in Iceland was 7.5-8 percent in March, could reach 12-13 percent in April, and 11-12 percent in May.

Icelandic Travel Industry Could Lose ISK 260 Billion

31 Mar The COVID-19 pandemic could cost the Icelandic travel industry as much as ISK 260 billion.

Blue Lagoon Lays off 164 People

27 Mar A total of 164 employees were laid off at the Blue Lagoon in Iceland yesterday.

Wheels of Icelandic Industry Turn Slowly

24 Mar As a result of the COVID-19 pandemic, every industry in Iceland is experiencing a slowdown.

From the press conference Saturday. From left: Minister of Transport and Local Government Sigurður Ingi Jóhannsson, Prime Minister Katrín Jakobsdóttir, and Finance Minister Bjarni Benediktsson.

Sweeping Economic Measures in Response to Pandemic

23 Mar The Icelandic government announced sweeping economic measures Saturday, intended to limit the economic impact of the COVID-19 pandemic.

Economic Impact of COVID-19 Likely to Be Short-Term

26 Feb 2020 Ásgeir Jónsson, governor of the Central Bank of Iceland, states that the economic effect of the spread of COVID-19, the novel coronavirus, is mainly due to measures taken to contain the epidemic.

Foreign Citizens Are 23 Percent of Labor Force

16 Feb 2020 Foreign citizens are about 23 percent of the labor force in Iceland

Minister of Finance Bjarni Benediktsson.

Wants to Sell Íslandsbanki and Build Infrastructure

5 Feb 2020 “Now that the economy is slowing down, an obvious choice is to release the state’s ownership of financial firms and use the proceeds from that to invest in infrastructure.”