Summary
May 2004 was part of Iceland's late spring, transitioning into high season as weather improves. Foreign guests recorded 64,303 overnight stays in hotels, compared to 62,476 in May 2003—a +2.9% change year-over-year.
National hotel occupancy stood at 49.0%, down 2.6 percentage points from 51.6% in 2003. Foreign card spending totaled 1.0 billion ISK (+3.5% YoY).
May 2004 in context
Foreign hotel nights for the year to date, January through May, reached 226,335, up 6.8% on the same period of 2003. Within 2004, May ranked 5th of the twelve months by foreign nights. Against the average for May over the five preceding years, this month came in ahead by 22.5%.
United Kingdom was the largest source market with 16.9% of foreign hotel nights, and the top three markets together accounted for 45.1%. Hotel occupancy of 49.0% means that share of available rooms was sold across the month; this is typical of Iceland's low season, when many rural hotels close and demand concentrates in Reykjavík. 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 May 2004, ranked by overnight stays:
| Rank | Market | Nights 2004 | Nights 2003 | Change | Share |
|---|---|---|---|---|---|
| 1 | United Kingdom | 10,873 | 11,137 | -2.4% | 16.9% |
| 2 | United States of America | 9,773 | 8,862 | +10.3% | 15.2% |
| 3 | Germany | 8,370 | 8,862 | -5.6% | 13.0% |
| 4 | Sweden | 6,837 | 5,843 | +17.0% | 10.6% |
| 5 | Denmark | 6,771 | 5,259 | +28.8% | 10.5% |
| 6 | Norway | 5,196 | 7,133 | -27.2% | 8.1% |
| 7 | Other European countries | 4,605 | 1,836 | +150.8% | 7.2% |
| 8 | Netherlands | 2,258 | 3,056 | -26.1% | 3.5% |
| 9 | France | 2,142 | 3,693 | -42.0% | 3.3% |
| 10 | Finland | 1,839 | 1,320 | +39.3% | 2.9% |
Hotel Occupancy by Region
Regional hotel occupancy rates for May 2004:
| Region | Occupancy 2004 | Occupancy 2003 | Change |
|---|---|---|---|
| Capital Region | 60.3% | 64.1% | -3.8 pp |
| East | 49.1% | 59.7% | -10.6 pp |
| Total | 49.0% | 51.6% | -2.6 pp |
| West & Westfjords | 41.7% | 45.6% | -3.9 pp |
| North | 31.5% | 33.2% | -1.7 pp |
| South | 30.7% | 29.3% | +1.4 pp |
Foreign Card Spending
Total foreign card turnover in May 2004 was 965.6 million ISK (0.97 billion ISK), compared to 932.8 million ISK in May 2003.
This represents a +3.5% year-over-year change.
Domestic Tourism
Icelandic residents recorded 18,225 overnight stays in hotels in May 2004, up 5.7% from 17,246 in 2003.
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