Iceland: The relationship between the growth of tourism and economic development

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  • Iceland: The relationship between the growth of tourism and economic development
    • Icelanders have one of the highest standards of living in the world
      • HIgh incomes
      • Excellent heathcare and education services
    • Successful ecotourism industry
      • Attracted by the dramatic volcanic scenery, rugged coastline, glaciers and wildlife (whale watching)
      • In 2006, 364000 tourists visited Iceland - more than the entire population
    • Between 1995 and 2005, tourism was one of the fastest growing sectors of the economy
      • Also an important earner of foreign currency
      • Tourism increased by 30%
    • Tourism supports 6900 jobs directly
    • Tourism accounts for 5% of Iceland's GDP
    • Niche market of tourists (wealthy Europeans and North Americans with an interest in he environment and wildlife)
      • No budget airlines fly to Reykjavik
    • The modest scale of tourism and the rugged landscapes mean that the ecological footprint of tourism is small and the industry is sustainable
    • Tourism is based around the capital in the southwest
      • Boosted economic development in the area
  • Niche market of tourists (wealthy Europeans and North Americans with an interest in he environment and wildlife)
    • No budget airlines fly to Reykjavik
  • Reykjavik has now got a reputation as a chic centre for nightlife
    • Large number of hotels nearby
    • Tourism is based around the capital in the southwest
      • Boosted economic development in the area
    • Close proximity to only international airport in Keflavik
      • 98% of foreign tourists enter the country here

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