Central Bank of Iceland prepared for 'possibility of deeper recession' due to tourism decline

24 June, 2019

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.