Summary
May 2008 was part of Iceland's late spring, transitioning into high season as weather improves. Foreign guests recorded 89,716 overnight stays in hotels, compared to 91,367 in May 2007—a -1.8% change year-over-year.
National hotel occupancy stood at 53.9%, down 1.1 percentage points from 55.0% in 2007. Foreign card spending totaled 2.3 billion ISK (+22.3% YoY).
May 2008 in context
Foreign hotel nights for the year to date, January through May, reached 302,061, up 0.3% on the same period of 2007. Within 2008, 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 22.3%.
United Kingdom was the largest source market with 19.2% of foreign hotel nights, and the top three markets together accounted for 43.0%. Hotel occupancy of 53.9% 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 2008, ranked by overnight stays:
| Rank | Market | Nights 2008 | Nights 2007 | Change | Share |
|---|---|---|---|---|---|
| 1 | United Kingdom | 17,221 | 18,900 | -8.9% | 19.2% |
| 2 | Germany | 11,063 | 10,456 | +5.8% | 12.3% |
| 3 | Sweden | 10,302 | 8,418 | +22.4% | 11.5% |
| 4 | United States of America | 10,096 | 12,807 | -21.2% | 11.3% |
| 5 | Norway | 7,375 | 7,904 | -6.7% | 8.2% |
| 6 | Denmark | 7,245 | 6,214 | +16.6% | 8.1% |
| 7 | France | 4,575 | 3,421 | +33.7% | 5.1% |
| 8 | Netherlands | 4,482 | 4,354 | +2.9% | 5.0% |
| 9 | Other European countries | 3,577 | 4,948 | -27.7% | 4.0% |
| 10 | Finland | 2,156 | 2,953 | -27.0% | 2.4% |
Hotel Occupancy by Region
Regional hotel occupancy rates for May 2008:
| Region | Occupancy 2008 | Occupancy 2007 | Change |
|---|---|---|---|
| Reykjanes | 69.2% | 61.7% | +7.5 pp |
| Capital Region | 64.4% | 66.2% | -1.8 pp |
| Total | 53.9% | 55.0% | -1.1 pp |
| West & Westfjords | 37.5% | 36.7% | +0.8 pp |
| East | 36.7% | 39.8% | -3.1 pp |
| North | 36.1% | 36.6% | -0.5 pp |
| South | 35.0% | 34.8% | +0.2 pp |
Foreign Card Spending
Total foreign card turnover in May 2008 was 2,271.35 million ISK (2.27 billion ISK), compared to 1,857.35 million ISK in May 2007.
This represents a +22.3% year-over-year change. Spending increased even as overnight stays declined, suggesting higher per-visitor expenditure.
Domestic Tourism
Icelandic residents recorded 28,183 overnight stays in hotels in May 2008, up 8.1% from 26,072 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