Travel and Tourism in Iceland

July 2013 | 20 pages | ID: TFD55DF2F23EN
Euromonitor International Ltd

Abstracts

Following the severe economic crisis, which led to the country’s bankruptcy, Iceland is making very positive progress towards the reinstatement of a healthy and solid financial system. This has been beneficial to the travel and tourism industry, as it has enabled a number of companies to develop or renew infrastructures and to attract more visitors. In addition, the positive economic climate has been stimulating domestic tourism demand and the purchasing power of the country’s population as a...

Euromonitor International's Travel and Tourism in Iceland report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest market size data 2008-2012, allowing you to identify the sectors driving growth. It identifies the leading companies and offers strategic analysis of key factors influencing the market - be they new legislative, technology or pricing issues. Background information on disposable income, annual leave and holiday taking habits is also included. Forecasts to 2017 illustrate how the market is set to change.

Product coverage: Car Rental, Demand Factors, Health and Wellness Tourism, Tourism Flows Domestic, Tourism Flows Inbound, Tourism Flows Outbound, Tourism Receipts and Expenditure, Tourist Attractions, Transportation, Travel Accommodation, Travel Retail.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

• Get a detailed picture of the Travel and Tourism market;
• Pinpoint growth sectors and identify factors driving change;
• Understand the competitive environment, the market’s major players and leading brands;
• Use five-year forecasts to assess how the market is predicted to develop.

Euromonitor International has over 40 years' experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town, Santiago, Sydney, Tokyo and Bangalore and a network of over 800 analysts worldwide, Euromonitor International has a unique capability to develop reliable information resources to help drive informed strategic planning.

Contents

Executive Summary
Excellent Performance After the Financial Crisis
Low-cost Destination Fuelled by Tourism Diversity
Natural Adversities Present Threat To Tourism Performance
Vat Increase To Affect Travel Accommodation
Positive Forecasts for the Travel and Tourism Industry
Balance of Payments
  Table 1 Balance of Tourism Payments: Value 2007-2012
SWOT
Summary 1 Iceland: SWOT
Market Data
  Table 2 Domestic Tourism by Purpose of Visit and Mode of Transport: Number of Trips: 2007-2012
  Table 3 Domestic Tourist Expenditure: Value and Growth: 2007-2012
  Table 4 Forecast Domestic Tourism by Purpose of Visit and Mode of Transport: Number of Trips: 2012-2017
  Table 5 Forecast Domestic Tourist Expenditure: Value and Growth: 2012-2017
  Table 6 Departures by Destination: Number of Trips: 2007-2012
  Table 7 Departures by Mode of Transport: Number of Trips: 2007-2012
  Table 8 Departures by Purpose of Visit: Number of Trips: 2007-2012
  Table 9 Outgoing Tourist Expenditure: Value and Growth: 2007-2012
  Table 10 Forecast Departures by Destination: Number of Trips: 2012-2017
  Table 11 Forecast Departures by Mode of Transport: Number of Trips: 2012-2017
  Table 12 Forecast Departures by Purpose of Visit: Number of Trips: 2012-2017
  Table 13 Forecast Outgoing Tourist Expenditure: Value and Growth: 2012-2017
  Table 14 Health and Wellness Tourism Sales: Value 2007-2012
  Table 15 Forecast Health and Wellness Tourism Sales: Value 2012-2017
  Table 16 Tourist Attractions: Value 2007-2012
  Table 17 Forecast Tourist Attractions: Value 2012-2017
Sources
Summary 2 Research Sources
Car Rental in Iceland
Headlines
Trends
Prospects
Category Data
  Table 18 Car Rental Sales: Value 2007-2012
  Table 19 Car Rental Online Sales: Internet Transaction Value 2007-2012
  Table 20 Forecast Car Rental Sales: Value 2012-2017
  Table 21 Forecast Car Rental Online Sales: Internet Transaction Value 2012-2017
Tourism Flows Inbound in Iceland
Headlines
Trends
Prospects
Category Data
  Table 22 International Arrivals by City 2007-2012
  Table 23 Arrivals by Country of Origin: Number of Trips: 2007-2012
  Table 24 Arrivals by Mode of Transport: Number of Trips: 2007-2012
  Table 25 Arrivals by Purpose of Visit: Number of Trips: 2007-2012
  Table 26 Incoming Tourist Receipts: 2007-2012
  Table 27 Forecast Arrivals by Country of Origin: Number of Trips: 2012-2017
  Table 28 Forecast Arrivals by Mode of Transport: Number of Trips: 2012-2017
  Table 29 Forecast Arrivals by Purpose of Visit: Number of Trips: 2012-2017
  Table 30 Forecast Incoming Tourist Receipts: Value and Growth: 2012-2017
Transportation in Iceland
Headlines
Trends
Prospects
Category Data
  Table 31 Transportation Sales by Category: Value 2007-2012
  Table 32 Transportation Online Sales: Internet Transaction Value 2007-2012
  Table 33 Forecast Transportation Sales by Category: Value 2012-2017
  Table 34 Forecast Transportation Online Sales: Internet Transaction Value 2012-2017
Travel Accommodation in Iceland
Headlines
Trends
Prospects
Category Data
  Table 35 Hotel Pipeline Development
  Table 36 Travel Accommodation Sales by Category: Value 2007-2012
  Table 37 Travel Accommodation Outlets by Category: Units 2007-2012
  Table 38 Travel Accommodation Online Sales: Internet Transaction Value 2007-2012
  Table 39 Forecast Travel Accommodation Sales by Category: Value 2012-2017
  Table 40 Forecast Travel Accommodation Outlets by Category: Units 2012-2017
  Table 41 Forecast Travel Accommodation Online Sales: Internet Transaction Value 2012-2017
Travel Retail in Iceland
Headlines
Trends
Prospects
Category Data
  Table 42 Travel Retail Sales: Value 2007-2012
  Table 43 Travel Retail Online Sales: Internet Transaction Value 2007-2012
  Table 44 Forecast Travel Retail Sales: Value 2012-2017
  Table 45 Forecast Travel Retail Online Sales: Internet Transaction Value 2012-2017

About

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.

Growth at a rate of 8.5% was recorded in 2012 and expenditure is expected to record a forecast-period (2013−2017) CAGR of 8.70%. The average expenditure per domestic tourist, which fell from ISK35, 514.5 (US$403.8) in 2008 to ISK29, 251.8 (US$233.9) in 2012, is expected to increase at a forecast-period CAGR of 5.25% to reach ISK37,783.9 (US$279.8) by 2017.

Both inbound trips and international departures are expected to increase over the forecast period. With a share of 77.6%, Europe accounted for the highest proportion of inbound tourists to Iceland in 2012, followed by North America and then the Asia- Pacific region. This pattern is expected to continue over the forecast period with Europe accounting for 70.0% of total inbound arrivals by 2017.

With revenues in the aviation, hotel and car rental market’s all growing in the review period of 2012, this trend is set to continue to 2017 in line with the increase in inbound tourist volumes, air passenger traffic and the use of the online travel market.

Iceland - Tourism Expenditure (US$ Million). 2008-2017