Summary
November 2008 was part of Iceland's autumn/winter transition with increasing northern lights activity. Foreign guests recorded 54,120 overnight stays in hotels, compared to 48,749 in November 2007—a +11.0% change year-over-year.
National hotel occupancy stood at 36.5%, down 0.7 percentage points from 37.2% in 2007. Foreign card spending totaled 2.2 billion ISK (+62.9% YoY).
November 2008 in context
Foreign hotel nights for the year to date, January through November, reached 1,006,017, up 2.6% on the same period of 2007. Within 2008, November ranked 9th of the twelve months by foreign nights. Against the average for November over the five preceding years, this month came in ahead by 32.6%.
United Kingdom was the largest source market with 29.3% of foreign hotel nights, and the top three markets together accounted for 51.3%. Hotel occupancy of 36.5% 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 November 2008, ranked by overnight stays:
| Rank | Market | Nights 2008 | Nights 2007 | Change | Share |
|---|---|---|---|---|---|
| 1 | United Kingdom | 15,872 | 13,084 | +21.3% | 29.3% |
| 2 | United States of America | 7,223 | 6,667 | +8.3% | 13.3% |
| 3 | Norway | 4,695 | 4,540 | +3.4% | 8.7% |
| 4 | Sweden | 4,344 | 4,327 | +0.4% | 8.0% |
| 5 | Germany | 3,760 | 2,447 | +53.7% | 6.9% |
| 6 | Denmark | 3,736 | 4,345 | -14.0% | 6.9% |
| 7 | Other European countries | 2,776 | 2,315 | +19.9% | 5.1% |
| 8 | Netherlands | 2,758 | 1,359 | +102.9% | 5.1% |
| 9 | France | 1,629 | 2,167 | -24.8% | 3.0% |
| 10 | Japan | 1,249 | 1,066 | +17.2% | 2.3% |
Hotel Occupancy by Region
Regional hotel occupancy rates for November 2008:
| Region | Occupancy 2008 | Occupancy 2007 | Change |
|---|---|---|---|
| Reykjanes | 59.1% | 39.6% | +19.5 pp |
| Capital Region | 46.7% | 48.6% | -1.9 pp |
| Total | 36.5% | 37.2% | -0.7 pp |
| South | 18.4% | 15.4% | +3.0 pp |
| West & Westfjords | 15.6% | 20.8% | -5.2 pp |
| East | 14.2% | 21.2% | -7.0 pp |
| North | 13.8% | 16.5% | -2.7 pp |
Foreign Card Spending
Total foreign card turnover in November 2008 was 2,167.38 million ISK (2.17 billion ISK), compared to 1,330.31 million ISK in November 2007.
This represents a +62.9% year-over-year change.
Domestic Tourism
Icelandic residents recorded 23,340 overnight stays in hotels in November 2008, down 14.1% from 27,157 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