Iceland is among countries who are most dependent on tourism. Only four nations are more dependent upon tourism, Malta, Croatia, Thailand and Jamaica.
Tourism a major contributor to the Icelandic economy
According to data from World Economic Forum (pdf) the travel and tourism industry in Iceland contributes 8.2% to the total GDP of Iceland. Travel and tourism generated 15% of the GDP of Malta and Croatia, 9.3% of the GDP of Thailand and 8.9% of the GDP of Jamaica.
Read more: Tourism continues to be a major engine of growth: 47% of new jobs in last 12 months in tourism
The website HowMuch.net compiled a handy graphic to visualize the significance of the travel and tourism industries for different countries.
High prices pull down the competitiveness of Icelandic tourism industry
The World Economic Forum report finds that Iceland ranks 25th in the Travel and Tourism Competitiveness Index. the primary reason Iceland does not score higher appears to be the extremely low score for Price Competitiveness: Iceland scores 132nd among 136 countries.
Only Israel, Barados, the UK and Switzerland score lower on this measure. At the same time Iceland scores very well in terms of things like safety, air infrastructure and human resources.
Iceland is among countries who are most dependent on tourism. Only four nations are more dependent upon tourism, Malta, Croatia, Thailand and Jamaica.
Tourism a major contributor to the Icelandic economy
According to data from World Economic Forum (pdf) the travel and tourism industry in Iceland contributes 8.2% to the total GDP of Iceland. Travel and tourism generated 15% of the GDP of Malta and Croatia, 9.3% of the GDP of Thailand and 8.9% of the GDP of Jamaica.
Read more: Tourism continues to be a major engine of growth: 47% of new jobs in last 12 months in tourism
The website HowMuch.net compiled a handy graphic to visualize the significance of the travel and tourism industries for different countries.
High prices pull down the competitiveness of Icelandic tourism industry
The World Economic Forum report finds that Iceland ranks 25th in the Travel and Tourism Competitiveness Index. the primary reason Iceland does not score higher appears to be the extremely low score for Price Competitiveness: Iceland scores 132nd among 136 countries.
Only Israel, Barados, the UK and Switzerland score lower on this measure. At the same time Iceland scores very well in terms of things like safety, air infrastructure and human resources.
