Summary
September 2024 was part of Iceland's early autumn shoulder season, with the first northern lights appearances. Foreign guests recorded 444,392 overnight stays in hotels, compared to 460,315 in September 2023—a -3.5% change year-over-year.
National hotel occupancy stood at 78.8%, down 2.9 percentage points from 81.7% in 2023. Foreign card spending totaled 37.7 billion ISK (+9.9% YoY).
September 2024 in context
Foreign hotel nights for the year to date, January through September, reached 3,415,523, down 4.7% on the same period of 2023. Within 2024, September ranked 3rd of the twelve months by foreign nights. Against the average for September over the five preceding years (excluding the pandemic years 2020 and 2021), this month came in ahead by 9.6%. Compared with September 2019, the last full year before the pandemic, foreign nights were up 12.0%.
United States of America was the largest source market with 40.4% of foreign hotel nights, and the top three markets together accounted for 55.0%. Hotel occupancy of 78.8% 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 September 2024, ranked by overnight stays:
| Rank | Market | Nights 2024 | Nights 2023 | Change | Share |
|---|---|---|---|---|---|
| 1 | United States of America | 179,704 | 178,462 | +0.7% | 40.4% |
| 2 | Germany | 37,876 | 43,628 | -13.2% | 8.5% |
| 3 | United Kingdom | 26,646 | 37,374 | -28.7% | 6.0% |
| 4 | China | 21,196 | 17,293 | +22.6% | 4.8% |
| 5 | Canada | 15,094 | 13,243 | +14.0% | 3.4% |
| 6 | Spain | 14,998 | 15,686 | -4.4% | 3.4% |
| 7 | France | 13,809 | 14,426 | -4.3% | 3.1% |
| 8 | Italy | 13,065 | 10,722 | +21.9% | 2.9% |
| 9 | Other Asian countries | 12,911 | 12,504 | +3.3% | 2.9% |
| 10 | Netherlands | 12,152 | 13,316 | -8.7% | 2.7% |
Hotel Occupancy by Region
Regional hotel occupancy rates for September 2024:
| Region | Occupancy 2024 | Occupancy 2023 | Change |
|---|---|---|---|
| South | 83.0% | 87.5% | -4.5 pp |
| Capital Region | 82.7% | 83.0% | -0.3 pp |
| Reykjanes | 80.8% | 84.7% | -3.9 pp |
| Total | 78.8% | 81.7% | -2.9 pp |
| North | 68.9% | 73.3% | -4.4 pp |
| East | 68.4% | 82.7% | -14.3 pp |
| West & Westfjords | 60.2% | 67.5% | -7.3 pp |
Foreign Card Spending
Total foreign card turnover in September 2024 was 37,672.13 million ISK (37.67 billion ISK), compared to 34,277.9 million ISK in September 2023.
This represents a +9.9% year-over-year change. Spending increased even as overnight stays declined, suggesting higher per-visitor expenditure.
Domestic Tourism
Icelandic residents recorded 68,477 overnight stays in hotels in September 2024, up 16.2% from 58,937 in 2023.
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