Full Year Analysis
The year in context
With 687,691 foreign passengers through Keflavík Airport, 2021 ranks 12th of the 23 complete years on record, 30% of the record set in 2018. Against 2019, the last full year before the pandemic, arrivals were down 65.4%. Compared with the average of the five preceding years, 2021 came in behind by 63.9%. Foreign hotel nights reached 38% of their 2025 record.
Overall Performance
2021 marked continued recovery and growth for Iceland's tourism sector. Foreign visitors recorded 1,833,681 overnight stays in hotels throughout the year, an increase of 84.9% compared to 2020's 991,843 nights.
Spending Trends
Tourist card spending totaled 130 billion ISK in 2021, up 101.8% from 2020. On a per-night basis, spending averaged 71k ISK, an increase of 9.1% year-over-year. Spending growth outpaced volume growth, suggesting higher per-visitor expenditure.
Seasonal Patterns
Aug was the busiest month with 367,044 foreign overnight stays, while Feb recorded the lowest volume at 6,714 nights. Average hotel occupancy ranged from winter lows to summer peaks, with a full-year average of 38.2%.
Source Markets
United States of America remained Iceland's largest source market, accounting for 38.5% of foreign overnight stays. United Kingdom (12.5%) and Germany (11.4%) rounded out the top three. Notable growth came from United States of America, Germany, France.
Data Sources
- Overnight Stays: Statistics Iceland (Hagstofa Íslands)
- Occupancy Rates: Statistics Iceland
- Card Spending: Central Bank of Iceland (Seðlabanki Íslands)