Summary
May 2018 was part of Iceland's late spring, transitioning into high season as weather improves. Foreign guests recorded 274,038 overnight stays in hotels, compared to 265,946 in May 2017—a +3.0% change year-over-year.
National hotel occupancy stood at 58.2%, down 4.0 percentage points from 62.2% in 2017. Foreign card spending totaled 21.2 billion ISK (-1.8% YoY).
May 2018 in context
Foreign hotel nights for the year to date, January through May, reached 1,430,281, up 1.8% on the same period of 2017. Within 2018, May ranked 8th of the twelve months by foreign nights. Against the average for May over the five preceding years, this month came in ahead by 40.4%.
United States of America was the largest source market with 34.4% of foreign hotel nights, and the top three markets together accounted for 56.1%. Hotel occupancy of 58.2% 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 2018, ranked by overnight stays:
| Rank | Market | Nights 2018 | Nights 2017 | Change | Share |
|---|---|---|---|---|---|
| 1 | United States of America | 94,205 | 85,500 | +10.2% | 34.4% |
| 2 | Germany | 30,995 | 34,510 | -10.2% | 11.3% |
| 3 | United Kingdom | 28,435 | 28,809 | -1.3% | 10.4% |
| 4 | France | 12,909 | 14,038 | -8.0% | 4.7% |
| 5 | China | 12,647 | 9,744 | +29.8% | 4.6% |
| 6 | Canada | 9,526 | 8,881 | +7.3% | 3.5% |
| 7 | Sweden | 8,918 | 11,013 | -19.0% | 3.3% |
| 8 | Netherlands | 8,622 | 7,769 | +11.0% | 3.1% |
| 9 | Norway | 7,350 | 8,599 | -14.5% | 2.7% |
| 10 | Denmark | 6,821 | 7,913 | -13.8% | 2.5% |
Hotel Occupancy by Region
Regional hotel occupancy rates for May 2018:
| Region | Occupancy 2018 | Occupancy 2017 | Change |
|---|---|---|---|
| Reykjanes | 74.2% | 64.0% | +10.2 pp |
| Capital Region | 63.9% | 70.6% | -6.7 pp |
| Total | 58.2% | 62.2% | -4.0 pp |
| South | 56.4% | 54.1% | +2.3 pp |
| West & Westfjords | 50.7% | 51.4% | -0.7 pp |
| North | 40.6% | 51.3% | -10.7 pp |
| East | 36.6% | 37.9% | -1.3 pp |
Foreign Card Spending
Total foreign card turnover in May 2018 was 21,238.18 million ISK (21.24 billion ISK), compared to 21,626.46 million ISK in May 2017.
This represents a -1.8% year-over-year change. Despite growth in overnight stays in hotels, spending declined—possibly reflecting lower per-visitor expenditure or shifts in spending patterns.
Domestic Tourism
Icelandic residents recorded 43,651 overnight stays in hotels in May 2018, up 13.4% from 38,506 in 2017.
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