Foreign visitors to this year’s Iceland Airwaves festival brought almost half a billion krónar to the local economy in just one weekend, according to a ÚTÓN/Icelandic Music Export report released this week.
The report, which was based on a survey of foreign visitors to the festival, finds that a total of 313 million ISK was spent in Reykjavik during the period, and that doesn’t include the cost of flights to the country or any additional expenses outside the city. Results show that each foreign visitor spent an average of 25.000 ISK per day in Reykjavik on accommodation, food and restaurants, nightlife, transport and shopping.
Iceland Music Export reports that the festival attracted some 4650 people this year, 48% of which were foreign tourists. Tourism around Iceland is also reported to have benefited from the festival, with popular attractions such as the Blue Lagoon, Gullfoss, Geysir all reporting increased numbers and businesses outside the capital such as car rental companies, restaurants, accommodation services also reporting increased sales.