The consumption of champagne is rising to pre-crash levels, a new study from Arion Bank reports.
In a study focusing on non-traditional indicators of quality of life, i.e the use of coupons or consumption of luxury goods, Arion Bank charts the rise and fall of sparkling wine consumption in Iceland over the last 12 years.
In the years between 2001-2013 sparkling wine consumption reached an all-time high in 2007 and dropped by 70% to an all-time low in 2010.
Icelanders are now turning back to champagne – or sparkling white for those who are particular about geography. Roughly 7,600 bottles of sparkling were purchased in 2013, and in the first four months of 2014 there was already a 17% increase on the amount of champagne purchased compared to the same period last year.
The report concludes that this move to consume champagne once more is an indicator of economic recovery in Iceland.