Key Market Indicators
The expenditure on passenger transport by Icelanders is projected to hit $203 million by 2028, up from $162 million in 2023. This marks a compound annual growth rate (CAGR) of 3.6%. Since 2013, demand for passenger transport in Iceland has surged by nearly 15% annually. In 2023, Iceland ranked 30th in the world for passenger transport expenditure, a position just behind Lithuania, which also recorded $162 million in spending. France, Canada, and Italy occupied the second, third, and fourth spots, respectively, in this global ranking.
