Full Year Analysis
The year in context
With 2,315,925 foreign passengers through Keflavík Airport, 2018 ranks 1st of the 23 complete years on record, the busiest year Iceland has had. Compared with the average of the five preceding years, 2018 came in ahead by 66.0%. Foreign hotel nights reached 83% of their 2025 record.
Overall Performance
2018 marked continued recovery and growth for Iceland's tourism sector. Foreign visitors recorded 4,014,116 overnight stays in hotels throughout the year, an increase of 3.9% compared to 2017's 3,862,653 nights.
Spending Trends
Tourist card spending totaled 257 billion ISK in 2018, down 2.7% from 2017. On a per-night basis, spending averaged 64k ISK, a decrease of 6.4% year-over-year. Spending growth lagged behind volume growth, indicating some pressure on per-visitor expenditure.
Seasonal Patterns
Aug was the busiest month with 466,453 foreign overnight stays, while Apr recorded the lowest volume at 235,087 nights. Average hotel occupancy ranged from winter lows to summer peaks, with a full-year average of 67.8%.
Source Markets
United States of America remained Iceland's largest source market, accounting for 32.6% of foreign overnight stays. United Kingdom (17.2%) and Germany (8.2%) rounded out the top three. Notable growth came from China.
Data Sources
- Overnight Stays: Statistics Iceland (Hagstofa Íslands)
- Occupancy Rates: Statistics Iceland
- Card Spending: Central Bank of Iceland (Seðlabanki Íslands)