Full Year Analysis
The year in context
With 348,533 foreign passengers through Keflavík Airport, 2004 ranks 22nd of the 23 complete years on record, 15% of the record set in 2018. Foreign hotel nights reached 16% of their 2025 record.
Overall Performance
2004 marked continued recovery and growth for Iceland's tourism sector. Foreign visitors recorded 775,398 overnight stays in hotels throughout the year, an increase of 8.3% compared to 2003's 716,192 nights.
Spending Trends
Tourist card spending totaled 15 billion ISK in 2004, up 10.5% from 2003. On a per-night basis, spending averaged 19k ISK, an increase of 2.1% year-over-year. Spending growth outpaced volume growth, suggesting higher per-visitor expenditure.
Seasonal Patterns
Jul was the busiest month with 138,974 foreign overnight stays, while Jan recorded the lowest volume at 22,373 nights. Average hotel occupancy ranged from winter lows to summer peaks, with a full-year average of 47.4%.
Source Markets
United Kingdom remained Iceland's largest source market, accounting for 19.2% of foreign overnight stays. Germany (15.5%) and United States of America (13.4%) rounded out the top three. Notable growth came from Other European countries.
Data Sources
- Overnight Stays: Statistics Iceland (Hagstofa Íslands)
- Occupancy Rates: Statistics Iceland
- Card Spending: Central Bank of Iceland (Seðlabanki Íslands)