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

    Central Bank of Iceland Governor Mar Gudmundsson stated it 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 with 126,309 visitor arrivals to Iceland through Reykjavik Keflavik International Airport in May-2019.