Iceland facing declining tourist numbers following overtourism

The closing down in March of Wow Air is sending ripples through Iceland, whose spectacular recovery from financial collapse a decade ago was built considerably on attracting foreign visitors, majorly due to its location for the filming the popular television series – Game of Thrones.Last year, Iceland was named the world’s second-worst country with regard to ‘overtourism’, based on the number of visitors for every local.But the latest numbers look dismal. Visitor numbers plunged 24 per cent in May compared to the same period last year and the significant summer season is looking unstable. The central bank last month pulled the emergency lever to moderate the blow and delivered a half a point rate cut, while the government has pledged to boost stimulus, if needed.