Iceland: Introduction: Overview

Update: 2008 Economic Crisis

Iceland has been hard-hit by the current economic crisis, which has effectively bankrupted the country (in early October, the government took over the last of three major banks). However, one area that may actually pick up due to the crisis is tourism, as a rapidly declining currency has made Iceland more affordable to visit than ever before. What the country needs the most right now is an economic boost, so chances are the locals will welcome travelers with open arms.