Travel and Tourism in Iceland to 2017
Synopsis
The report provides detailed market analysis, information and insights, inc...
2.3.4 Threats
2.4 Country Fact Sheet
2.5 Demographic Profile

3 Tourism Flows
3.1 Domestic Tourism
3.1.1 Performance Outlo...
10.2.7 Icelandair Group – Weaknesses
10.2.8 Icelandair Group – Opportunities
10.2.9 Icelandair Group – T...
12.4.2 Europcar Iceland – Main Services
12.4.3 Europcar Iceland – Key Competitors
12.4.4 Europcar Iceland &nda...
14.5.5 Room Nights Occupied
14.5.6 Average Revenue Per Available Room
14.5.7 Revenue Per Occupied Room
14.5.8 Total Revenu...
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Travel and tourism in iceland to 2017

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The Icelandic travel and tourism sector’s review-period (2008−2012) performance was adversely affected by the country’s slip into recession in 2008. However, despite the volcanic eruption at Eyjafjallajökull in 2010, international and domestic tourism activity increased overall. Domestic tourist volumes rose at a review-period CAGR of 1.89% while international arrivals increased at a CAGR of 7.60%. According to the World Travel and Tourism Council (WTTC), in 2012, the sector accounted for 19.5% of Icelandic GDP and 20.9% of total employment.

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Travel and tourism in iceland to 2017

  1. 1. Travel and Tourism in Iceland to 2017 Synopsis The report provides detailed market analysis, information and insights, including: Historic and forecast tourist volumes covering the entire Icelandic travel and tourism sector Detailed analysis of tourist spending patterns in Iceland for various categories in the travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transport, retail, travel intermediaries and others Detailed market classification across each category, with analysis using similar metrics Detailed analysis of the airline, hotel, car rental and travel intermediaries industries Executive summary The Icelandic travel and tourism sector’s review-period (2008−2012) performance was adversely affected by the country’s slip into recession in 2008. However, despite the volcanic eruption at Eyjafjallajökull in 2010, international and domestic tourism activity increased overall. Domestic tourist volumes rose at a review-period CAGR of 1.89% while international arrivals increased at a CAGR of 7.60%. According to the World Travel and Tourism Council (WTTC), in 2012, the sector accounted for 19.5% of Icelandic GDP and 20.9% of total employment. Scope This report provides an extensive analysis related to tourism demands and flows in Iceland: It details historical values for the Icelandic tourism sector for 2008–2012, along with forecast figures for 2013–2017 It provides comprehensive analysis of the travel and tourism demand factors, with values for both the 2008–2012 review period and the 2013–2017 forecast period The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Iceland It provides comprehensive analysis of trends inthe airline, hotel, car rental and travel intermediaries industry with values for both the 2008–2012 review period and the 2013–2017 forecast period Reasons to buy Take strategic business decisions using historic and forecast market data related to the Icelandic travel and tourism sector. Understand the demand-side dynamics within the Icelandic travel and tourism sector, along with key market trends and growth opportunities. Key highlights The Icelandic travel and tourism sector registered a downturn in 2008 as the country’s economy slipped into crisis and the country's three major privately owned commercial banks – Glitnir, Landsbanki and Kaupthing – collapsed. According to World Bank data, Iceland’s GDP shrank by 6.6% in 2009 and 4.1% in 2010. The dip in travel and tourism activity in the country was expected to decline further following the volcanic eruption at Eyjafjallajökull in 2010. However, the disaster turned into an opportunity as thousands of tourists flocked to Iceland to witness the volcanic activity. Media coverage of the eruption presented Iceland on an international platform. Furthermore, the devaluation of the króna due to the financial crisis also pushed down the price of goods and services in the country. These factors supported the growth of what became known as ‘volcano tourism’ by many Icelandic tour operators. Domestic tourism is dependent on income levels and propensity to travel. A high unemployment rate leads to a fall in residents’ inclination to spend. During the review period, domestic tourism was impacted by a high unemployment rate prevailing in the country in the wake of the financial crisis. However, the unemployment rate, which increased from 2.2% in June 2008 to 7.5% in June 2009, fell to 5.2% in June 2012. Iceland also recorded an increase in the number of visitors from emerging markets such as China and Russia. According to the Icelandic Tourist Board, between January and September 2013, the number of Chinese tourists through Keflavík International Airport increased at a rate of 24.4%, while the number of Russian visitors increased at a rate of 54.3%. In April 2013, a Free Trade Agreement (FTA) was signed between Iceland and China; it is expected to further strengthen trade and tourism ties between the two countries. Growth in the volume international departures from Iceland is expected over the forecast period. The expected growth can be attributed to the increasing air capacity and better connectivity to key destinations. For example, Iceland Air launched services to Anchorage in Alaska during the summer months (May–September) of 2013. The company also increased the frequency of its flights on key routes. Gatwick–Iceland was increased to four times a week and London–Iceland was increased to three times a week. Wow Air, launched in May 2012, was the second low-cost airline to be launched in Iceland after Iceland Express which began operating in 2002. In October 2012, Wow Air acquired Iceland Express to become Iceland’s only low-cost airline. In November 2013, the airline announced its plan to launch direct transatlantic routes to the US. The new service, which will be launched in spring 2014, will fly six times a week between Keflavik International Airport and Boston. The airline hopes to capture a larger share of Iceland’s tourism market, which increased by 20% in 2012, with the new services. The Icelandic hotel market faces the issue of seasonality in tourism activity, which impacts hotel occupancy rates and revenues. According to Statistics Iceland, in Greater Reykjavík, Iceland’s capital region and the major tourism hub, a 91.9% occupancy rate was recorded in June 2012, while an occupancy rate of 39.6% was recorded in January in the same year. In areas such as the Westfjords, occupancy rates dropped to as low as 7.2% in January 2012, while a 58.3% occupancy rate was recorded in June 2012. The increasing number of tourists and growth in car rental business led to the entry of new companies into the market. In August 2013, Red Car Rental, a part of Iceland’s leading travel network Kynnisferdir, was launched. In addition to offering a brand new fleet of cars, the company also offered a launch discount of 10% on pre-paid bookings to attract customers. Icelandic tour operators have benefitted from the shooting of films and television series’ in the country. For example, in 2013, Iceland Travel, a leading Icelandic tour operator, launched ‘Game of Thrones’-themed tours from the UK to Iceland. The tour, which takes travelers to the filming locations of the Game of Thrones television series, will be on offer between 1st October 2013 and 30th April 2014. table Of Contents 1 Executive Summary 2 Market Overview 2.1 The Domestic Economy 2.2 Travel And Tourism Trends And Issues 2.3 Tourism Swot 2.3.1 Strengths 2.3.2 Weaknesses 2.3.3 Opportunities Travel and Tourism in Iceland to 2017
  2. 2. 2.3.4 Threats 2.4 Country Fact Sheet 2.5 Demographic Profile 3 Tourism Flows 3.1 Domestic Tourism 3.1.1 Performance Outlook 3.1.2 Key Issues And Trends 3.2 Inbound Tourism 3.2.1 Performance Outlook 3.2.2 Key Issues And Trends 3.3 Outbound Tourism 3.3.1 Performance Outlook 3.3.2 Key Issues And Trends 3.4 Tourism Flows Forecast Highlights 4 Airlines 4.1 Performance Outlook 4.2 Key Issues And Trends 4.3 Airlines Forecast Highlights 5 Hotels 5.1 Performance Outlook 5.2 Key Issues And Trends 5.3 Hotels Forecast Highlights 6 Car Rental 6.1 Performance Outlook 6.2 Key Issues And Trends 6.3 Car Rental Forecast Highlights 7 Travel Intermediaries 7.1 Performance Outlook 7.2 Key Issues And Trends 7.3 Travel Intermediaries Forecast Highlights 8 Tourism Board Profile 8.1 Tourism Board Name 8.2 Tourist Board Description 8.3 Target Market 9 Airport Profiles 9.1 Icelandic Airports 9.1.1 Overview 9.1.2 Operator Profile 9.1.3 Routes 10 Company Profiles – Airlines 10.1 Company Profile: Air Atlanta Icelandic 10.1.1 Air Atlanta Icelandic – Company Overview 10.1.2 Air Atlanta Icelandic – Main Services 10.1.3 Air Atlanta Icelandic – Key Competitors 10.1.4 Air Atlanta Icelandic – Key Employees 10.2 Company Profile: Icelandair Group 10.2.1 Icelandair Group – Company Overview 10.2.2 Icelandair Group – Business Description 10.2.3 Icelandair Group – Main Services 10.2.4 Icelandair Group – History 10.2.5 Icelandair Group – Swot Analysis 10.2.6 Icelandair Group – Strengths Travel and Tourism in Iceland to 2017
  3. 3. 10.2.7 Icelandair Group – Weaknesses 10.2.8 Icelandair Group – Opportunities 10.2.9 Icelandair Group – Threats 10.2.10 Icelandair Group – Key Competitors 10.2.11 Icelandair Group – Key Employees 10.3 Company Profile: Air Iceland 10.3.1 Air Iceland – Company Overview 10.3.2 Air Iceland – Main Services 10.3.3 Air Iceland – Key Competitors 10.3.4 Air Iceland – Key Employees 10.4 Company Profile: Wow Air 10.4.1 Wow Air – Company Overview 10.4.2 Wow Air – Main Services 10.4.3 Wow Air – Key Competitors 10.4.4 Wow Air – Key Employees 10.5 Company Profile: Eagle Air Iceland 10.5.1 Eagle Air Iceland – Company Overview 10.5.2 Eagle Air Iceland – Main Services 10.5.3 Eagle Air Iceland – Key Competitors 10.5.4 Eagle Air Iceland – Key Employees 11 Company Profiles – Hotels 11.1 Company Profile: Grand Hotels Iceland 11.1.1 Grand Hotels Iceland – Company Overview 11.1.2 Grand Hotels Iceland – Main Services 11.1.3 Grand Hotels Iceland – Key Competitors 11.1.4 Grand Hotels Iceland – Key Employees 11.2 Company Profile: Hilton Reykjavík Nordica 11.2.1 Hilton Reykjavík Nordica – Company Overview 11.2.2 Hilton Reykjavík Nordica – Main Services 11.2.3 Hilton Reykjavík Nordica – Key Competitors 11.2.4 Hilton Reykjavík Nordica – Key Employees 11.3 Company Profile: Radisson Blu Hotels Iceland 11.3.1 Radisson Blu Hotels Iceland – Company Overview 11.3.2 Radisson Blu Hotels Iceland – Main Services 11.3.3 Radisson Blu Hotels Iceland – Key Competitors 11.3.4 Radisson Blu Hotels Iceland – Key Employees 11.4 Company Profile: Hotel Borg 11.4.1 Hotel Borg – Company Overview 11.4.2 Hotel Borg – Main Services 11.4.3 Hotel Borg – Key Competitors 11.4.4 Hotel Borg – Key Employees 11.5 Company Profile: Icelandair Hotel Reykjavík Natura 11.5.1 Icelandair Hotel Reykjavík Natura – Company Overview 11.5.2 Icelandair Hotel Reykjavík Natura – Main Services 11.5.3 Icelandair Hotel Reykjavík Natura – Key Competitors 11.5.4 Icelandair Hotel Reykjavík Natura – Key Employees 12 Company Profiles – Car Rental 12.1 Company Profile: Hertz Iceland 12.1.1 Hertz Iceland – Company Overview 12.1.2 Hertz Iceland – Main Services 12.1.3 Hertz Iceland – Key Competitors 12.1.4 Hertz Iceland – Key Employees 12.2 Company Profile: Budget Car Rental Iceland 12.2.1 Budget Car Rental Iceland – Company Overview 12.2.2 Budget Car Rental Iceland – Main Services 12.2.3 Budget Car Rental Iceland – Key Competitors 12.2.4 Budget Car Rental Iceland – Key Employees 12.3 Company Profile: Avis Car Rental Iceland 12.3.1 Avis Car Rental Iceland – Company Overview 12.3.2 Avis Car Rental Iceland – Main Services 12.3.3 Avis Car Rental Iceland – Key Competitors 12.3.4 Avis Car Rental Iceland – Key Employees 12.4 Company Profile: Europcar Iceland 12.4.1 Europcar Iceland – Company Overview Travel and Tourism in Iceland to 2017
  4. 4. 12.4.2 Europcar Iceland – Main Services 12.4.3 Europcar Iceland – Key Competitors 12.4.4 Europcar Iceland – Key Employees 12.5 Company Profile: Thrifty Car Rental Iceland 12.5.1 Thrifty Car Rental Iceland – Company Overview 12.5.2 Thrifty Car Rental Iceland – Main Services 12.5.3 Thrifty Car Rental Iceland – Key Competitors 12.5.4 Thrifty Car Rental Iceland – Key Employees 13 Company Profiles – Travel Intermediaries 13.1 Company Profile: Guðmundur Jónasson Travel 13.1.1 Guðmundur Jónasson Travel – Company Overview 13.1.2 Guðmundur Jónasson Travel – Main Services 13.1.3 Guðmundur Jónasson Travel – Key Competitors 13.1.4 Guðmundur Jónasson Travel – Key Employees 13.2 Company Profile: Atlantik - Iceland 13.2.1 Atlantik - Iceland – Company Overview 13.2.2 Atlantik - Iceland – Main Services 13.2.3 Atlantik - Iceland – Key Competitors 13.2.4 Atlantik - Iceland – Key Employees 13.3 Company Profile: Iceland Tours 13.3.1 Iceland Tours – Company Overview 13.3.2 Iceland Tours – Main Services 13.3.3 Iceland Tours – Key Competitors 13.3.4 Iceland Tours – Key Employees 13.4 Company Profile: North Sailing 13.4.1 North Sailing – Company Overview 13.4.2 North Sailing – Main Services 13.4.3 North Sailing – Key Competitors 13.4.4 North Sailing – Key Employees 13.5 Company Profile: Iceland Travel 13.5.1 Iceland Travel – Company Overview 13.5.2 Iceland Travel – Main Services 13.5.3 Iceland Travel – Key Competitors 13.5.4 Iceland Travel – Key Employees 14 Market Data Analysis 14.1 Domestic Tourism 14.1.1 Number Of Trips And Overnight Stays 14.1.2 Number Of Overnight Stays 14.1.3 Total Domestic Tourist Expenditure 14.1.4 Average Expenditure Per Domestic Tourist By Category 14.2 Inbound Tourism 14.2.1 International Arrivals By Region 14.2.2 International Arrivals By Purpose Of Visit 14.2.3 Total Inbound Tourism Expenditure By Category 14.2.4 Average International Tourist Expenditure By Category 14.3 Outbound Tourism Flows 14.3.1 International Departures By Region 14.3.2 International Departures By Purpose Of Visit 14.3.3 Number Of Overnight Stays 14.3.4 Total Outbound Tourism Expenditure By Category 14.3.5 Average Overseas Expenditure Per Resident By Category 14.4 Airlines 14.4.1 Seats Available 14.4.2 Number Of Seats Sold By Passenger Type 14.4.3 Load Factor 14.4.4 Passenger Kilometers Available 14.4.5 Revenue-generating Passenger Kilometers 14.4.6 Revenue Per Passenger 14.4.7 Total Airlines Revenue 14.5 Hotels 14.5.1 Hotel Establishments 14.5.2 Available Rooms 14.5.3 Room Occupancy Rate 14.5.4 Room Nights Available Travel and Tourism in Iceland to 2017
  5. 5. 14.5.5 Room Nights Occupied 14.5.6 Average Revenue Per Available Room 14.5.7 Revenue Per Occupied Room 14.5.8 Total Revenue Per Available Room 14.5.9 Total Hotel Revenue 14.5.10 Guests By Customer Type 14.6 Car Rentals 14.6.1 Market Value By Customer Type 14.6.2 Fleet Size 14.6.3 Rental Occasions 14.6.4 Rental Length 14.6.5 Average Rental Length 14.6.6 Utilization Rate 14.6.7 Average Revenue Per Day 14.7 Travel Intermediaries 14.7.1 Travel Intermediaries Market Value By Product Type 14.7.2 Travel Intermediaries Market Value By Channel 14.7.3 Travel Intermediaries Market Value By Destination 14.7.4 Travel Intermediaries Market Value By Customer Type 15 Appendix 15.1 What Is This Report About? 15.2 Definitions 15.3 Methodology 15.4 Contact Timetric 15.5 About Timetric 15.6 Timetric’s Services 15.7 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Travel and Tourism in Iceland to 2017

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