A change in currency values is working wonders for tourism
Who ever thought of taking a trip to see Iceland? But all of a sudden the Icelandic currency has plunged in value in the wake of some naughty goings on in the banks, and is much cheaper for tourists. Iceland used to be prohibitively expensive to visit but is now playing host to visitors who are flocking in to see the dramatic volcanic scenery.
Currency in Iceland
Look what’s happened to the currency in Iceland: “Last year you got 60 kronur for one dollar, today you get 105 kronur,” says Will Delaney, a 22-year-old Canadian student who, like thousands of others, has taken advantage of the current exchange rate to see Iceland. Last year about half a million people visited the island outnumbering the 320,000 residents.
At that rate of exchange, I could get there without taking a Payday Loan or any other kind of loan.
The banks
The value of the Icelandic currency plummeted by 44 percent in 2008. The drop was not negative for the tourism industry. Before the crisis, Iceland had become a very expensive destination. It is much more affordable now. Delaney says that it is feasible to visit Iceland for just a couple of hundred dollars, something unimaginable a year ago before the crisis hit. “I’m staying for two weeks, both working and travelling. I am into renewable energy. Iceland is a very good model to study with the geothermal power, and I can travel outside Reykjavik to explore the fantastic landscapes.”
The attractions
Iceland boasts breathtaking scenery which includes the Blue Lagoon hot springs, spouting geysers and plunging waterfalls as well as the Thingvellir national park, a UNESCO world heritage site. Then there are the must-sees, the glaciers and volcanoes.
The national carrier, Icelandair, is advertising in newspapers everywhere and there are promotions on the Internet. The tourism sector, which employs around 8,200 people, has pulled out all the stops to avoid collapse after the country’s financial sector crashed late last year.
The bailout and recovery
There are signs now that the country’s economy is beginning to recover thanks to the massive international bailout. The number of US visitors fell by 22 per cent last year, but they have started coming back. The industry is also focusing its efforts on attracting Europeans to Iceland. Britons represent the biggest group of tourists, with around 70,000 visitors in 2008, ahead of Germans with 45,100 and Danes with 41,000.
I’m interested
I’m always on the lookout for places to visit that involve short flights. Once you’ve flown to Australia you’re cured of those long flights with the interminable sitting locked down in a tiny seat and nowhere to go even if you can get out. Now that the Icelandic kronur is low, one can probably get pretty good value. The price of hotel rooms and food is at rock bottom.
In addition, I’m sure there’s a lot to see and one will see sights that one can never see anywhere else in the world. And imagine the look on our friends faces when I tell them where we’re going!
