Icelanders Pessimistic About Economic Forecasts - The Reykjavik Grapevine

Icelanders Pessimistic About Economic Forecasts

Published May 27, 2009

The latest Gallup poll shows an increase in pessimism among Icelanders with regards to their economic future.
Using a scale by which anything under 100 indicates more pessimism than optimism, Gallup reports that pessimism reached its high point last January, when it was measured at 19.5 on the scale. This was followed by an upswing to 39 points in April, just before the elections. Today, those points have dropped to 29.9, indicating growing dissatisfaction and low expectations for the immediate future.
With regards to economic and employment matters specifically, a similar pattern emerges. The outlook of the average Icelander was at 30.8 points n January, swung up to 62.1 points in April, and has since dropped to 46.5.
These figures reflect much of the criticism that has been ongoing in Iceland towards the new government, which many critics say is not doing enough in fast enough time to help fix the economic situation. Many Icelanders are hoping that the summer – the high tourist season and traditionally a huge boost to the economy – will help spur things along, as the weakened crown attracts those tourists who might have previously considered Iceland prohibitively expensive as a travel destination.


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