Airwaves Brought About A Billion ISK To Iceland

Published November 26, 2012

It is estimated that foreign guests alone put about a billion ISK into the Icelandic economy during the Iceland Airwaves music festival, and there are still other data points that have not been factored in.
Airwaves has been enjoying increased success with each passing year. The Export Office of Icelandic Music (ÚTÓN) conducted a poll for foreign guests, asking them how much money they spent and where.
The number of foreign guests to Airwaves increased by 66% from last year, the data showed, from about 2,800 to 4,076. This actually marks the first time that foreign guests outnumbered Icelanders at Airwaves.
These guests spent a total of about 300 million ISK coming to Iceland, and another 800 million ISK in the capital area alone. Each guest spent about 29,000 ISK per day and stayed an average of 6.7 nights in Iceland.
In addition, the amount of money these guests spent outside the capital area has not even been factored in yet – about 70% said that they intended to go to at least the Blue Lagoon.
Tómas Young of ÚTÓN told Vísir that he was very pleased with the results, saying that foreign guests to Airwaves had a positive effect on many aspects of the economy, from cafés to bars to record stores.



News
“Major Deception” Occurred With Bank Sale, Investigation Finds

“Major Deception” Occurred With Bank Sale, Investigation Finds

by

The Parliamentary Investigation Commission (RNA) has concluded that the German bank Hauck & Aufhäuser was never an investor in The

News
Iceland’s Epic Euro Smiting Triggers Baby Boom

Iceland’s Epic Euro Smiting Triggers Baby Boom

by

It’s been nine months since Iceland’s smiting of England in the Euro Cup – often referred to as the island

News
Environment Minister Supports Shutting Plant Down

Environment Minister Supports Shutting Plant Down

by

Iceland’s Environment Minister, Björt Ólafsdóttir, believes shutting down the United Silicon plant in Reykjanesbær is an acceptable course of action.

News
Iceland To Abandon Currency Altogether

Iceland To Abandon Currency Altogether

by

Sources close to Grapevine within the Central Bank have confirmed that Iceland is going to abandon its age-old love-hate relationship

News
First Lambs Of Spring Arrive

First Lambs Of Spring Arrive

by

A collective welcome to the first lambs born in Iceland this spring. The two little floofy black ram lambs were

News
Silicon Plant Denies Pollution, No One Buying It

Silicon Plant Denies Pollution, No One Buying It

by

The Environment Agency of Iceland has rejected a statement from United Silicon suggesting that the high levels of arsenic in

Show Me More!