From 2008 to 2011, Iceland went through a severe financial crisis — the International Monetary Fund called the country’s banking collapse the biggest in history relative to the size of the economy. The country had to nationalize its major banks, accept relief from the IMF, and desperately try to stabilize the country’s currency, the krona. But now, Bloomberg reports that the krona is back in fighting shape, and is valued over both the euro and the dollar. Why the improvement? Game of Thrones, of course.
Well, tourism. People travel to Iceland for many reasons — to see the Northern lights, to visit James Bond filming locations like the Jökulsárlón glacial lake, or to enjoy the country’s smog-free air. They’re also taking in a number of Game of Thrones filming locations, such as the lava fields of Dimmuborgir, where Mance Rayder had his camp in season 3, or Grjótagjá, the cave where Jon Snow and Ygritte consummated their attraction.
Put all this together and it’s a recipe for financial success. A record 1.8 million people visited Iceland last year, 40% more than the year before. “The surge in tourism has outpaced the growing deficit on goods trade,” said Jon Bjarki Bentsson, a Reykjavik-based economist. (We’re guessing that’s econ-speak for “Yes! Yes! Yes!”) It’s going so well that Iceland is even considering raising taxes on tourism-related activities, so you may want to visit Jon and Ygritte’s love shack while it’s still affordable.
This isn’t the first time Game of Thrones has given an economic boost to a country where it films. It’s done wonders for the economy of Northern Ireland, for example. And the show returned to Iceland to film scenes for season 7, so hopefully it’ll continue to do its part in getting the economy back in shape.