Central Bank of Iceland Governor Mar Gudmundsson stated the bank is "prepared for the possibility of a deeper recession", adding: "The numbers we are getting on tourist arrivals seem to indicate that may happen" (Business Times, 21-Jun-2019). Icelandic Tourist Board reported a 23.6% year-on-year decrease in visitor arrivals to Iceland through Reykjavik Keflavik International Airport to 126,309 in May-2019.
Central Bank of Iceland prepared for 'possibility of deeper recession' due to tourism decline
24 June, 2019