Iceland to Welcome More Than Double Tourists in Next 3 years

According to the latest economic forecast from Landsbanski, the tourism sector of Iceland accounts for a major portion of the economic growth of Iceland. And, of course, the country would be almost at a virtual stagnant state in the absence of such a steady growing tourism industry.

Looking at these figures, it can be safely estimated that the aggregate number of tourists visiting Iceland would be more than double in the following three years.

This report states that in 2016 the total economic growth of Iceland would be about 6.1%. And, without the robust tourism industry, the growth would be around 1.2%. The bank predicts that the non-tourism sector’s growth would increase to a certain extent in the next three years.

However, the tourism industry would contribute to lesser amount of revenues with each coming year.

This implies that the declining contributions of the regional tourism sector to the economic growth of the country would be inversely proportional to the number of tourists visiting this part of the world.

As a whole, this means that the economic growth of the country would decline, right from 6.1% to less than half by the end of the year 2019.

By the end of this year, over a million tourists would have arrived in Iceland and these figures would continue to rise. In 2019, nearly 2.5 million tourists are expected to visit this country, even though it is being predicted that the rise in the number of tourists with steadily decreasing with every passing year.