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Iceland's Blue Lagoon

While in Iceland on vacation last month, I specifically looked for signs of prosperity after the “kreppa” , the Icelandic term for the 2008 and 2009 financial crisis that took hold of the country late last year and has not let go. But my anxiety was not relieved until the second day of my vacation when I visited my favorite Reykjavik bakery, Bernhöftsbakarí, which was celebrating its 175^th anniversary. As I congratulated the clerk, she proudly boasted to me in her Polish-accented English, “This bakery is the oldest business in Iceland!”

Later, as I sat in the corner reading the English publication, the Reykjavik Grapevine, I noticed a few more immigrants wander in: a security guard from Ghana picking up breakfast, an American jeweler buying coffee, and a middle Eastern gentleman perusing Icelandic delicacies.

I, as one of many avid Icelandic fans, took this as a fortuitous sign. As well, driving into the city, I noticed other signs of economic life in Iceland: rush hour, lines outside of the 3 Frakkar restaurant that still included a number of Icelanders looking for a good place to have a meal, and caravans of camping vans dotting the country roads with Icelanders taking their summer holidays, even though, similar to many Americans, most vacationers are choosing spots much closer to home.

And tourists abound in Iceland at the moment.  The Icelandic Krona (ISK) has dropped 50%. For Icelanders, that has been catastrophic.  For tourists, what was once unthinkably expensive, is now mildly affordable.  A night at a 3 star hotel that would have cost upwards of  $250 a night two years ago now costs $120.  Having visited the not-to-be-missed Kolaportið Flea Market, I will say items have not dropped off into the cheap category.  A half a loaf of “geyser bread” , the delectable daily-made bread served with fresh trout, will cost you upwards of 700 ISK or $5.  Still compared to New York prices, there are deals to be had.   

 For more information on visiting Iceland, go to www.icelandnaturally.org, or www.icelandair.com.