Summary
August 2008 was part of Iceland's peak summer season, characterized by midnight sun and maximum tourist activity. Foreign guests recorded 164,575 overnight stays in hotels, compared to 158,019 in August 2007—a +4.1% change year-over-year.
National hotel occupancy stood at 78.4%, up 2.7 percentage points from 75.7% in 2007. Foreign card spending totaled 5.4 billion ISK (+28.4% YoY).
August 2008 in context
Foreign hotel nights for the year to date, January through August, reached 773,655, up 1.5% on the same period of 2007. Within 2008, August ranked 2nd of the twelve months by foreign nights. Against the average for August over the five preceding years, this month came in ahead by 20.7%.
Germany was the largest source market with 17.9% of foreign hotel nights, and the top three markets together accounted for 43.6%. Hotel occupancy of 78.4% means that share of available rooms was sold across the month; this is a healthy shoulder-season level with capacity still available outside the capital. Spending figures are foreign card turnover reported by the Central Bank and exclude cash and purchases made before arrival.
Foreign Overnight Stays by Source Market
The top source markets for August 2008, ranked by overnight stays:
| Rank | Market | Nights 2008 | Nights 2007 | Change | Share |
|---|---|---|---|---|---|
| 1 | Germany | 29,458 | 28,776 | +2.4% | 17.9% |
| 2 | United Kingdom | 24,761 | 24,749 | +0.0% | 15.0% |
| 3 | United States of America | 17,567 | 17,335 | +1.3% | 10.7% |
| 4 | Italy | 11,389 | 10,585 | +7.6% | 6.9% |
| 5 | Spain | 10,475 | 9,210 | +13.7% | 6.4% |
| 6 | Sweden | 8,771 | 11,032 | -20.5% | 5.3% |
| 7 | Other European countries | 8,571 | 7,376 | +16.2% | 5.2% |
| 8 | Norway | 8,323 | 7,543 | +10.3% | 5.1% |
| 9 | France | 8,161 | 7,686 | +6.2% | 5.0% |
| 10 | Denmark | 8,098 | 7,399 | +9.4% | 4.9% |
Hotel Occupancy by Region
Regional hotel occupancy rates for August 2008:
| Region | Occupancy 2008 | Occupancy 2007 | Change |
|---|---|---|---|
| East | 83.3% | 73.6% | +9.7 pp |
| Reykjanes | 82.3% | 75.7% | +6.6 pp |
| Capital Region | 81.1% | 78.8% | +2.3 pp |
| Total | 78.4% | 75.7% | +2.7 pp |
| South | 75.7% | 74.3% | +1.4 pp |
| North | 72.6% | 72.0% | +0.6 pp |
| West & Westfjords | 64.8% | 61.9% | +2.9 pp |
Foreign Card Spending
Total foreign card turnover in August 2008 was 5,367.78 million ISK (5.37 billion ISK), compared to 4,179.42 million ISK in August 2007.
This represents a +28.4% year-over-year change.
Domestic Tourism
Icelandic residents recorded 25,885 overnight stays in hotels in August 2008, down 7.3% from 27,924 in 2007.
Data Sources
- Overnight Stays: Statistics Iceland (Hagstofa Íslands) — foreign and domestic guest nights in registered hotels
- Occupancy Rates: Statistics Iceland — room occupancy as % of available hotel capacity
- Card Spending: Central Bank of Iceland (Seðlabanki Íslands) — foreign debit/credit card turnover