News Tagged with “Money”

Tourists in Iceland blow billions on plastic

20 Dec 2016 Tourists have spent ISK 217 billion (approx. €1.8 billion) on their credit cards so far in 2016, with the month of November standing out as a period of strong growth for the Icelandic tourist industry.

Billions lost in Reykjavik accommodation black market

19 Dec 2016 Iceland is losing out on an estimated ISK 21.5 billion (€180 million) a year because of undeclared black-market accommodation rentals in Reykjavik, it has been claimed.

Wages in Iceland tourism rising less than national average

19 Dec 2016 Wages in Iceland’s booming tourism industry have risen less than the national average since 2010, according to a new report.

Black clouds on the horizon for Icelandic tourism?

“Iceland could be heading for another economic crash”

9 Dec 2016 Iceland could be heading for another economic crash if the Central Bank fails to take action to stop the strengthening króna affecting tourism.

Stronger currency to hit Icelandic tourism industry

7 Dec 2016 Wage rises and an ever more expensive króna will put prices up for tourists from Iceland’s main markets and could harm the tourist industry, an industry leader warns.

Is Iceland now the most expensive country in the world?

5 Dec 2016 A strengthening national currency and rising prices mean that Iceland has by now probably toppled Switzerland from the top spot of richest countries in the world, figures suggest.

Strong króna means Iceland tourists are not staying as long

14 Nov 2016 A strengthening national currency is resulting in tourists opting for shorter stays in Iceland, new data has revealed.

President of Iceland, Guðni Th. Jóhannesson.

Iceland’s President to give up hefty pay rise?

2 Nov 2016 “I expect the Iceland parliament to reverse this decision,” he told reporters, indicating that his pay rise would not be going into his pocket, but “elsewhere”.

Icelandic banks receive improved credit rating

26 Oct 2016 International credit rating agency S&P Global Ratings has in the past few days raised the credit rating of all three of Iceland’s major banks.

Is the gap between Iceland’s rich and poor widening?

24 Oct 2016 The richest 10% of people in Iceland had almost 32% of all disposable income in 2015 – up from 27% back in 1977, according to a new report from the Icelandic Confederation of Labour (ASÍ).

Easier to buy foreign currency in Iceland from 1 January

14 Oct 2016 From 1 January next year, the general public in Iceland will no longer be required to produce proof of foreign travel abroad in order to withdraw foreign currency at banks.

House prices: “Let’s all move to Iceland”

13 Oct 2016 A probably not very scientific comparison of what £1 million (GBP) will buy you house-wise in different European capitals.

British pound hits 8.5-year low against Iceland’s króna

11 Oct 2016 One pound sterling buys just ISK 140 today – a full ISK 50 less than one year ago – making Iceland a significantly more expensive place for British tourists.

2016 record year for Icelanders travelling abroad

11 Oct 2016 Over the first eight months of 2016, Icelanders departed on 351,000 trips abroad – up 20% on the same period in 2015 and the highest number ever.

Iceland is becoming a consumption-driven economy again, says Vilhjálmur Egilsson.

Iceland heading for “deep economic slump”

10 Oct 2016 A prominent Icelandic economist has predicted tough economic times ahead for Iceland, with the current tourism boom only going some way towards mitigating the effects.