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Impacts of tourism deregulation and national security

Just what the maester ordered The Icelandic economy and Game of Thrones: Just what the maester ordered Iceland is known for its natural picturesque beauty, active volcanos, the northern lights and of course its friendly people.

The Icelandic economy and Game of Thrones: Just what the maester ordered

In fact, the country was recently named the friendliest country in the world by the World Economic Forum. Brought on by the deregulation of banks inyears of asset inflation and bad loans resulted in a national debt 10 times that of its GDP.

The banks eventually defaulted resulting in the largest single banking collapse in world history.

  • Spain also benefited greatly from the Europe-wide deregulation of package-tour air charters;
  • Tourism is nothing new in Spain; the country pioneered mass tourism and package tours;
  • Indeed, fears over tourism have surfaced.

With the economy teetering on the edge after the disaster, the government took emergency measures to get the economy back on its feet and stabilize the Icelandic krona. Nearly 10 years later Iceland has been called a European success story as its economy is now looking like a world beater.

The country is on track to be the fastest growing economy among OECD member countries in Game of Thrones is, at the very least, partly responsible for the major uptick in tourism growth in recent years. Iceland received a record 1.

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Inthe economy grew a very impressive 7. However, with all the good news comes some bad news. However, various rate cuts, the lifting of capital controls and foreign exchange purchases have done little to erode the appeal of the currency and curb the gains.

strategic and international studies

Indeed, fears over tourism have surfaced. Moreover, the IMF commented recently that although the economy is doing well, risks of overheating are a clear concern, while the Central Bank governor stated that the pace of economic growth has become slightly worrisome. Tourism is projected to come in at 2.

  1. The Canary Islands off the coast of Africa, for example, received
  2. With the economy teetering on the edge after the disaster, the government took emergency measures to get the economy back on its feet and stabilize the Icelandic krona.
  3. Benidorm, a sleepy village of fishermen and farmers on the Mediterranean coast in the s, became the archetypal resort for mass tourism and package tours.

That is about seven times the population of the tiny country and it has put a strain on public services and infrastructure. There have been reports of tourists needing to be saved from dangerous excursions as they visit remote parts of the country, and others needing to relieve themselves in the streets as public rest rooms are in short supply.

  • Just what the maester ordered Iceland is known for its natural picturesque beauty, active volcanos, the northern lights and of course its friendly people;
  • For those that are worried about an overheating economy and the strong krona, this should help to curb the tourism going forward by making it pricier for foreign visitors which should lead to lower prices by reducing demand;
  • Moreover, the IMF commented recently that although the economy is doing well, risks of overheating are a clear concern, while the Central Bank governor stated that the pace of economic growth has become slightly worrisome;
  • The challenge is to attract more tourists away from the beaches.

The Icelandic healthcare system has also been put under pressure, as it cannot cope with the amount of people in the country. Despite these issues, it would be hard to overstate the importance of tourism to the Icelandic economy and the role it played in pulling the economy out of the doldrums. Tourism was just what the maester ordered for the ailing economy when it needed it most.

For those that are worried about an overheating economy and the strong krona, this should help to curb the tourism going forward by making it pricier for foreign visitors which should lead to lower prices by reducing demand.

  1. Game of Thrones is, at the very least, partly responsible for the major uptick in tourism growth in recent years. Most important, however, is that it does not appear that winter will be coming for the Icelandic economy any time soon.
  2. These three museums receive more than 6. The Icelandic healthcare system has also been put under pressure, as it cannot cope with the amount of people in the country.
  3. Brought on by the deregulation of banks in , years of asset inflation and bad loans resulted in a national debt 10 times that of its GDP. One area that can be developed more is cultural tourism, which is not seasonal.
  4. Apart from a drop between and , the number of tourists has continued to rise; in it reached

Most important, however, is that it does not appear that winter will be coming for the Icelandic economy any time soon.