Tourism Is Making Iceland’s Fortune as Warnings Grow
Iceland’s tourism industry has been enjoying an unprecedented boom, growing steadily since the start of the decade, and accounted for a record 8.4 percent of the country’s gross domestic product last year. It’s now the biggest export and the second-largest industry after wholesale and retail trade, according to Statistics Iceland. It may not last, however. The central bank cited easing growth in tourism among the reasons for cutting interest rates on Wednesday.