Travel and tourism contributed around 964 billion Icelandic króna – or around 6.86 billion U.S. dollars – to the gross domestic product in the northernmost European country in 2023. After the strong decline in 2020 due to the COVID-19 pandemic, the tourism sector seemed to have started the recovery in 2021.

The tourism sector GDP share in Iceland was forecast to continuously increase between 2023 and 2028 by in total five percentage points. The share is estimated to amount to 22.35 percent in 2028. While the share was forecast to increase significant in the next years, the increase will slow down in the future.Depited is the economic contribution of the tourism sector in relation to the gross domestic product of the country or region at hand.The forecast has been adjusted for the expected impact of COVID-19.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the tourism sector GDP share in countries like Norway and Sweden.

Iceland IS: International Tourism: Receipts: for Travel Items data was reported at 2.411 USD bn in 2016. This records an increase from the previous number of 1.618 USD bn for 2015. Iceland IS: International Tourism: Receipts: for Travel Items data is updated yearly, averaging 445.500 USD mn from Dec 1995 (Median) to 2016, with 22 observations. The data reached an all-time high of 2.411 USD bn in 2016 and a record low of 173.000 USD mn in 1997. Iceland IS: International Tourism: Receipts: for Travel Items data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Iceland – Table IS.World Bank.WDI: Tourism Statistics. International tourism receipts for travel items are expenditures by international inbound visitors in the reporting economy. The goods and services are purchased by, or on behalf of, the traveler or provided, without a quid pro quo, for the traveler to use or give away. These receipts should include any other prepayment made for goods or services received in the destination country. They also may include receipts from same-day visitors, except in cases where these are so important as to justify a separate classification. Excluded is the international carriage of travelers, which is covered in passenger travel items. Data are in current U.S. dollars.; ; World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.; Gap-filled total;

Key information about Iceland Tourism Revenue Growth

• Iceland Tourism Revenue grew 3.9 % YoY in Dec 2008, compared with an increase of 20.8 % YoY in the previous year
• Iceland Tourism Revenue Growth rate data is updated yearly, available from Dec 1996 to Dec 2008
• The data reached an all-time high of 20.8 % in Dec 2007 and a record low of -0.8 % in Dec 2001

In 2021, the expenditure of foreign visitors in Iceland represented more than five percent of the country's gross domestic product (GDP). Meanwhile, Icelandic travelers in other countries contributed nearly three percent to the GDP. Despite the recovery recorded versus the previous year, these share were still below pre-pandemic levels.

This statistic presents the results of a survey with Icelanders, assessing the effect of tourism and foreign travelers in Iceland in 2018. According to the data, 75 percent of respondents believe that tourist pressure on Icelandic nature is too high, although 46 percent also agreed that tourists have increased their own interest in Icelandic nature.

Iceland IS: Number of Tourist Nights: % Change over Previous Period data was reported at 6.743 % in 2018. This records a decrease from the previous number of 7.602 % for 2017. Iceland IS: Number of Tourist Nights: % Change over Previous Period data is updated yearly, averaging 20.045 % from Dec 2011 (Median) to 2018, with 8 observations. The data reached an all-time high of 26.251 % in 2015 and a record low of 6.743 % in 2018. Iceland IS: Number of Tourist Nights: % Change over Previous Period data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Iceland – Table IS.IMF.IFS: Tourist Arrivals: Annual.

In Iceland, the number of people employed in the tourism sector dropped from 32,906 in the third quarter of 2019 to 14,500 in the first quarter of 2021. Figures for 2018 and 2019 indicate some seasonal variations, but the fall of employment figures over the summer of 2020 indicate the impact of the coronavirus (COVID-19) pandemic. However, there was an increase in employment figures since then, reaching over 34,000 in the third quarter of 2023.

Business travel and tourism spending (%) of Iceland grew by 4.11% from 2.1 % in 2018 to 2.1 % in 2019. Since the 1.04% climb in 2009, business travel and tourism spending (%) soared by 236.62% in 2019. The share of Travel & Tourism spending or employment in the equivalent economy-wide concept in the published national income accounts or labour market statistics. Visitor exports are compared with exports of all goods and services Domestic Travel & Tourism spending is compared with GDP Government individual Travel & Tourism spending is compared with total government spending Internal Travel & Tourism consumption is compared with total internal consumption (i.e. total domestic spending plus total export) Leisure Travel & Tourism contribution to GDP is compared with total GDP Business Travel & Tourism contribution to GDP is compared with total GDP Travel & Tourism capital investment spending is compared with all fixed investment spending

Iceland IS: Number of Tourist Nights: YoY data was reported at 6.047 % in Dec 2018. This records a decrease from the previous number of 10.166 % for Sep 2018. Iceland IS: Number of Tourist Nights: YoY data is updated quarterly, averaging 19.116 % from Mar 2011 (Median) to Dec 2018, with 32 observations. The data reached an all-time high of 43.934 % in Dec 2015 and a record low of -2.998 % in Jun 2018. Iceland IS: Number of Tourist Nights: YoY data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Iceland – Table IS.IMF.IFS: Tourist Arrivals: Quarterly.

Directly and indirectly, the travel and tourism sector accounted for over 45 thousand jobs in Iceland in 2023. Due to the coronavirus (COVID-19) pandemic, this European country lost over 12 thousand jobs during 2020.

Iceland IS: Number of Tourist Arrivals data was reported at 2,315.920 Person th in 2018. This records an increase from the previous number of 2,195.280 Person th for 2017. Iceland IS: Number of Tourist Arrivals data is updated yearly, averaging 969.190 Person th from Dec 2010 (Median) to 2018, with 9 observations. The data reached an all-time high of 2,315.920 Person th in 2018 and a record low of 459.260 Person th in 2010. Iceland IS: Number of Tourist Arrivals data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Iceland – Table IS.IMF.IFS: Tourist Arrivals: Annual.

Iceland E-Commerce Transactions: AOV: Travel & Tourism data was reported at 311.783 USD in 05 Dec 2024. This records a decrease from the previous number of 317.330 USD for 04 Dec 2024. Iceland E-Commerce Transactions: AOV: Travel & Tourism data is updated daily, averaging 384.432 USD from Dec 2018 (Median) to 05 Dec 2024, with 1908 observations. The data reached an all-time high of 2,414.414 USD in 26 Nov 2022 and a record low of 10.248 USD in 19 Jun 2020. Iceland E-Commerce Transactions: AOV: Travel & Tourism data remains active status in CEIC and is reported by Grips Intelligence Inc.. The data is categorized under Global Database’s Iceland – Table IS.GI.EC: E-Commerce Transactions: by Category.

Revenue in the Travel Agencies industry is expected to contract at a compound annual rate of 9.1% over the five years through 2024 to €86 billion. The main driver of this drop is the plunge in travel demand during 2020 and 2021, when COVID-19 outbreak grounded flights and confined people to their homes. While domestic travel could continue in some countries, most travel agencies had no trips to sell. Since restrictions were lifted across Europe and globally (which happened at each country’s own pace), the travel sector has seen a resurgence in demand in a trend characterised as revenge travel, with people making up for lost time by taking more trips since COVID-19 restrictions have been lifted. International travel to Europe has also resurged, especially from the US, thanks to the more favourable dollar-to-Europe rate – a welcome trend for agencies. Pent-up demand combined with savings built up during COVID-19 has kept bookings high, defying high inflation across Europe that would usually signal lower trip spending. As a result, revenue is expected to mount by 0.6% in 2024. That being said, the Russia-Ukraine war has plagued tourism in Eastern Europe, with countries like Finland and the Baltic states continuing to record much lower tourist numbers than pre-pandemic because of fewer Russian tourists and lower travel confidence to the region. Revenue is anticipated to climb at a compound annual rate of 4% in the five years through 2029 to €104.6 billion. Online travel agencies will continue to cement their position in the industry as a disruptive force, with most traditional agencies adapting by now or already closed. Climate change will disrupt travel agencies and the destination packages they offer. 2023 already saw wildfires across Greece that spelt disaster for many trips and travel agencies will need to plan for the shift from southern European beaches to northern European destinations as temperatures rise. Travel agencies across Europe will also keep trying to carve out more of a niche by specialising in trips for certain age demographics.

The international tourist departures in Iceland were forecast to continuously increase between 2024 and 2029 by in total 0.1 million departures (+17.86 percent). The number of depatures are estimated to amount to 0.67 million departures in 2029. According to Worldbank, international tourist departures can be defined as departures from the country of usual residence to any other country for any purpose other than work. The forecast has been adjusted for the expected impact of COVID-19.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the international tourist departures in countries like Finland and Denmark.

Jordan Number of Tourists: Europe: Iceland data was reported at 255.571 Person in 2017. This records an increase from the previous number of 139.500 Person for 2016. Jordan Number of Tourists: Europe: Iceland data is updated yearly, averaging 183.500 Person from Dec 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 293.571 Person in 2012 and a record low of 37.000 Person in 2005. Jordan Number of Tourists: Europe: Iceland data remains active status in CEIC and is reported by Ministry of Tourism and Antiquities. The data is categorized under Global Database’s Jordan – Table JO.Q006: Number of Tourists.

Europe’s Inland Passenger Water Transport industry thrives thanks to the abundance of navigable waterways stretching across Europe's beautiful landscapes, enriching tourism experiences by providing unique voyages around some major destinations like Switzerland, Italy, Germany and France. Key drivers of demand are tourism and disposable income levels. Seasonal demand fluctuations and weather conditions also impact inland passenger water transport companies. However, water transport demand suffered greatly from the strict restrictions imposed during the COVID-19 outbreak. Revenue is expected to slump at a compound annual rate of 11% to €2.5 billion over the five years through 2024, including a 4% drop in 2024. Before the COVID-19 outbreak, an expanding European tourism sector and the growing popularity of river cruising supported demand. However, the tide turned swiftly with the COVID-19 outbreak inducing strict travel restrictions. Tourism in Europe nosedived, wreaking havoc and substantially reducing industry revenue in 2020. The relaxation of restrictions and a rebound in tourism, particularly domestic travel, supported demand in 2021 and 2022. However, severe inflationary pressures have dented consumer sentiment and reduced disposable incomes, weakening industry growth since 2022. Revenue is forecast to swell at a compound annual rate of 2% to €2.8 billion over the five years through 2029. With inflation receding back towards normal levels, growing tourism across Europe and escalating interest among travellers, especially younger ones, towards sustainable inland water transport will drive revenue growth. Consumers will increase spending on premium-tailored luxury offerings that provide comfort. Players will begin investing more actively focusing primarily around improved customer experience enhancements via digital technology adoption. They will also adopt more eco-friendly practices through revamped fleets, fostering greener energy solutions and ultimately reducing carbon footprint while satisfying increasing demand from environmentally conscious consumers.

Iceland IS: Imports: All Services: Travel data was reported at 225,067.000 ISK mn in 2023. This records an increase from the previous number of 204,896.700 ISK mn for 2022. Iceland IS: Imports: All Services: Travel data is updated yearly, averaging 146,187.500 ISK mn from Dec 2013 (Median) to 2023, with 11 observations. The data reached an all-time high of 225,067.000 ISK mn in 2023 and a record low of 70,802.200 ISK mn in 2020. Iceland IS: Imports: All Services: Travel data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.TISP: Trade in Services: Imports: by Services: OECD Member: Annual. This component of EBOPS 2010 differs from most internationally traded services in that it is transactor-based. Unlike most services in EBOPS, travel is not a specific product; rather, it encompasses a range of goods and services consumed by non-residents in the economy that they visit. Travel is defined as covering goods and services for own use or to be given away, acquired from an economy, by non-residents during visits to that economy. It covers stays of any length, provided that there is no change in residence.Travel includes goods and services acquired by persons undertaking study or medical care while outside the territory of residence. It also includes acquisitions of goods and services by seasonal, border and other short-term workers in the economy of employment.The goods and services may be purchased by the persons concerned or by another party on their behalf; for example, business travel may be paid for or reimbursed by an employer; tuition and living costs of a student may be paid by a overnment; and health costs may be paid or reimbursed by a Government or insurer. Goods and services supplied by the producer without charge are also included, for example, tuition and board provided by a university.The most common goods and services entered under travel are accommodation, food, beverages and transport purchased within the economy visited (all of which are consumed in the supplying economy). Gifts, souvenirs and other articles that are purchased for own use and that may be taken out of the economies visited are also included.In line with the accrual principle, goods and services acquired during the visit, but paid for earlier or later, are included in travel. Goods and services may be acquired by being paid for by the person going abroad, paid for on his or her behalf, provided without a quid pro quo (for example, free room and board received: in such a case, there is also a corresponding transfer) or produced on own account (as in some cases of ownership of real estate and time-share accommodation).The goods and services for own use or to be given away, purchased by or provided to the non-resident while on the trip that would otherwise be classified under another item, such as postal services, telecommunications, and transport, are included in travel. This includes transport within a particular economy being visited where such transport is provided by carriers resident in that economy but excludes the international carriage of persons, which is covered in passenger services under transport services. Also excluded are goods purchased for resale in the resident's own economy or in a third economy. The acquisition of valuables (such as jewellery and expensive art), consumer durable goods (such as cars and electronic goods) and other consumer purchases for own use that is in excess of customs thresholds, are excluded. These goods are included in general merchandise.Travel excludes the acquisition of goods and services by diplomats, consular staff, military personnel, etc., and their dependants in the territory in which they are posted (included in Government goods and services n.i.e.).

Iceland import data: Discover how diverse trade, renewable energy, and tourism fuel this North Atlantic economy.

Attitudes towards the European Union and towards Iceland’s accession to the EU. Topics: attitudes towards the relation of the EU and Iceland (scale: familiarity with the European Union, sharing of the same values, Iceland’s participation in the Schengen Agreement is positive, Iceland follows much of the EU’s legislation without participating in decision making, Iceland should be part of the EU, adoption of the euro will support Iceland’s economy); expected impact of Iceland’s accession to the EU (Iceland’s citizens will profit from EU support for regional development, decrease in food prices, more competition between Icelandic food producers and those from other EU countries, increase in tourism, harming of Iceland’s interests by the EU’s fishery policy, Icelandic becoming an official language of the EU, prohibition of whaling, possibility to keep the Icelandic passport, possibility to keep national control of own natural resources); countries that could serve as a model for Iceland; country to which the respondent feels the closest to; stronger feeling of attachment to the EU or to the US; travels outside Iceland in the past five years; travels to selected countries in the past five years; main reason for not traveling outside Iceland in the past five years; preferred source of information about current affairs; reception of foreign media; frequency of the reception of foreign media; main reason for not consuming foreign media; country of origin of the consumed media. Demography: age; sex; age at end of education; occupation; professional position; type of community. Additionally coded was: respondent ID; interviewer ID; language of the interview; country; date of interview; time of the beginning of the interview; duration of the interview; type of phone line; call history; region; weighting factor. Einstellungen zur Europäischen Union und zum isländischen EU-Beitritt. Themen: Einstellungen zur Beziehung zwischen Island und der EU (Skala: Gefühl der Vertrautheit mit der EU, ähnliche Wertauffassungen von Isländern und EU-Bürgern , positive Einschätzung der isländischen Beteiligung am Schengener Abkommen, Island folgt der europäischen Gesetzgebung ohne eigene Entscheidungsgewalt, Forderung nach einem Beitritt Islands zur EU, Euro-Einführung als Beitrag zur Stärkung der Wirtschaft in Island); erwartete Veränderungen nach einem EU-Beitritt Islands (isländische Bürger werden von der EU-Regionalpolitik profitieren, Senkung der Lebensmittelpreise, Verbesserung in der Tourismusbranche, Schädigung der isländischen Fischereiwirtschaft, Isländisch wird eine der offiziellen Sprachen in der EU, Walfangverbot, Beibehaltung der isländischen Reisepässe, Beibehaltung der Kontrolle über die eigenen natürlichen Ressourcen); Nennung eines vorbildlichen Staates für Island; Nennung eines Landes, dem man sich verbunden fühlt; höheres Verbundenheitsgefühl mit der EU oder den USA; eigene Auslandsreisen in den letzten fünf Jahren; Nennung der bereisten Länder; Gründe für fehlende Auslandsreisen; präferierte Informationsquelle über das Zeitgeschehen; Rezeption ausländischer Medien; Rezeptionshäufigkeit ausländischer Medien; Hauptgrund für die Rezeption ausländischer Medien; Herkunftsland der Medien. Demographie: Alter; Geschlecht; Alter bei Beendigung der Ausbildung; Beruf; berufliche Position; Urbanisierungsgrad. Zusätzlich verkodet wurde: Befragten-ID; Interviewer-ID; Interviewsprache; Land; Interviewdatum; Interviewdauer (Interviewbeginn und Interviewende); Interviewmodus (Mobiltelefon oder Festnetz); Anzahl der Kontaktversuche; Region; Gewichtungsfaktor.