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Iceland Tourism Industry Outlook 2024 - 2028

See how Iceland Tourism performed compared to key markets.

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Iceland's tourism sector is projected to experience a significant decline over the coming years. By 2028, the number of tourist arrivals is expected to plummet to approximately 37,000, a steep drop from the 1.37 million arrivals recorded in 2023. This represents an average annual decrease of nearly 50%. The trend of declining tourist interest is not new for Iceland. Since 2000, the demand for travel to the Nordic island nation has been decreasing at an average rate of 11% each year. This downturn in tourism could have far-reaching implications for Iceland's economy, which has heavily relied on the influx of international visitors in recent decades.

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Iceland Tourism Market Data and Forecasts