MarketResearchReports.Biz announces addition of new report “Travel And Tourism In Iceland To 2017 ” to its database.
Albany, NY -- (SBWIRE) -- 01/13/2014 -- The report provides detailed market analysis, information and insights, including:
Historic and forecast tourist volumes covering the entire Icelandic travel and tourism sector
Detailed analysis of tourist spending patterns in Iceland for various categories in the travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transport, retail, travel intermediaries and others
Detailed market classification across each category, with analysis using similar metrics
Detailed analysis of the airline, hotel, car rental and travel intermediaries industries
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The Icelandic travel and tourism sector’s review-period (2008?2012) performance was adversely affected by the country’s slip into recession in 2008. However, despite the volcanic eruption at Eyjafjallajökull in 2010, international and domestic tourism activity increased overall. Domestic tourist volumes rose at a review-period CAGR of 1.89% while international arrivals increased at a CAGR of 7.60%. According to the World Travel and Tourism Council (WTTC), in 2012, the sector accounted for 19.5% of Icelandic GDP and 20.9% of total employment.
This report provides an extensive analysis related to tourism demands and flows in Iceland:
It details historical values for the Icelandic tourism sector for 2008–2012, along with forecast figures for 2013–2017
It provides comprehensive analysis of the travel and tourism demand factors, with values for both the 2008–2012 review period and the 2013–2017 forecast period
The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Iceland
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Reasons to buy
Take strategic business decisions using historic and forecast market data related to the Icelandic travel and tourism sector.
Understand the demand-side dynamics within the Icelandic travel and tourism sector, along with key market trends and growth opportunities.
The Icelandic travel and tourism sector registered a downturn in 2008 as the country’s economy slipped into crisis and the country's three major privately owned commercial banks – Glitnir, Landsbanki and Kaupthing – collapsed. According to World Bank data, Iceland’s GDP shrank by 6.6% in 2009 and 4.1% in 2010.
The dip in travel and tourism activity in the country was expected to decline further following the volcanic eruption at Eyjafjallajökull in 2010. However, the disaster turned into an opportunity as thousands of tourists flocked to Iceland to witness the volcanic activity. Media coverage of the eruption presented Iceland on an international platform. Furthermore, the devaluation of the króna due to the financial crisis also pushed down the price of goods and services in the country. These factors supported the growth of what became known as ‘volcano tourism’ by many Icelandic tour operators.
Domestic tourism is dependent on income levels and propensity to travel. A high unemployment rate leads to a fall in residents’ inclination to spend. During the review period, domestic tourism was impacted by a high unemployment rate prevailing in the country in the wake of the financial crisis. However, the unemployment rate, which increased from 2.2% in June 2008 to 7.5% in June 2009, fell to 5.2% in June 2012.
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Table of contents
1 Executive Summary
2 Market Overview
2.1 The Domestic Economy
2.2 Travel and Tourism Trends and Issues
2.3 Tourism SWOT
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