Flight search traffic for UK-Iceland routes has risen by 400% over the last month, according to the flight search engine, Skyscanner.
Those who have been affected by Iceland’s financial woes may not appreciate it, but since the Icelandic economy ran into trouble, it appears travellers are making the most of the meltdown, cashing in on the weakening króna to visit the Atlantic island which has traditionally been perceived as an expensive destination.
Data from Skyscanner has shown that searches for flights from the UK to Reykjavik have rocketed by 400% since Iceland began hitting the headlines in October, suggesting that Iceland’s tourist industry could benefit from its banking crisis.
Though prices for food, drink and accommodation have not changed in Iceland itself, the devaluation of the Icelandic króna means that you now get much more for your money.
Back in April 08, £1 would buy you just 143 krónur, but by early October, this had jumped up to a high of 223 krónur, effectively meaning that Iceland had just become 56% cheaper, almost overnight (currency data according to Exchange-Rates.org ).
Savvy travellers seem to have cashed in, buying in their krónur and taking advantage of cheap flights to Iceland that can be found for as little as £105 on Skyscanner, while exchange rates remain favourable to those earning British pounds.
Barry Smith, Co-founder and Director of Business Development of Skyscanner said:
“Iceland has always held an exotic allure for Brits, although the expense has put a lot of people off from visiting. But the change in value of the króna has meant that Iceland has suddenly become an affordable destination and people are jumping at the chance to pay a visit.”