Tourism Development and Housing After Iceland’s 2008 Crash

Már Wolfgang Mixa*, Kristín Loftsdóttir

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review


In late 2008, the global economic crisis hit Iceland particularly hard, causing the nation’s banking system to collapse. This dire situation exacerbated the sense of precariousness among Icelanders in general. While the nation suffered broadly due to the crash, the effects were unequally distributed. Many faced the loss of their livelihoods and homes, in some cases with irrevocable consequences. These feelings were reinforced due to the simultaneous surge in real estate prices and the massive growth of tourism after the crisis. Despite the impressive subsequent economic recovery and significant hikes in wages, many people still cannot afford a home over a decade later.

Original languageEnglish
Title of host publicationGeographies of Tourism and Global Change
PublisherSpringer Nature
Number of pages21
Publication statusPublished - 2021

Publication series

NameGeographies of Tourism and Global Change
ISSN (Print)2366-5610
ISSN (Electronic)2366-5629

Bibliographical note

Publisher Copyright:
© 2021, Springer Nature Switzerland AG.

Other keywords

  • Airbnb
  • Economic crash
  • Housing index
  • Rental market
  • Tourism


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