Iceland's Kronur Down, Tourist Dollars Up

Your money’s better there than ever

The world economic crisis has cut its path of woe everywhere. However, some countries have been effected more than others. Take Iceland as an example. Their recent economic meltdown, reports AFP, has sent their currency into a free fall. Payday cash advance loans and debt consolidation may not be able to put Humpty Dumpty back together again, but there is perhaps a silver lining to their dark cloud.

As the currency value of the kronur has decreased, the exchange rate for foreign monies has become more favorable to foreigners. This means that tourists who once considered Iceland to be prohibitively expensive to visit are now coming to visit the North Atlantic island homeland of Bjork.

How good is the exchange rate now?

“Last year you got 60 kronur for one dollar, today you get 105 kronur,” says Will Delaney, a 22-year-old student from Canada.

According to Iceland’s tourism board, the nation drew a total of 502,000 tourists in 2008, which is significant for a country of just 320,000. The current state of the economy, while staggeringly difficult for residents, is a boon to tourism numbers. For the entire year, the kronur’s value declined by 44 percent in 2008. ... click here to read the rest of the article titled "Iceland's Kronur Down, Tourist Dollars Up"