How much do tourists spend in Iceland, and how much of it goes to restaurants?

A good tourist year usually helps restaurants too. How much depends on how much tourists spend, and on what. This guide looks at the public figures: what foreign cards spend in Iceland each month, how much of tourist spending ends up in restaurants, and where foreign guests sleep.

The figures are as of October 2026. Our guide to planning for the seasons covers the monthly airport counts and the seasons in each region.

Foreign card spending by month

Seðlabanki Íslands publishes the turnover of foreign payment cards in Iceland every month. A card counts as foreign when it was issued abroad. Where the cardholder lives does not change that.² In 2025, foreign cards spent 360,7 billion kr. in Iceland, against 351,9 billion kr. in 2024.¹

The curve is steep. In August 2025, foreign cards spent 51,0 billion kr., which is 2,8 times as much as in December 2025.¹ July and August together were more than a quarter of the year.

2025 started stronger than 2024, and every month from January to August was above the year before, except March. From September 2025 the picture changed. Every month from September 2025 to April 2026 was below the same month a year earlier. From January to April 2026, foreign cards spent 86,6 billion kr., against 89,2 billion kr. in the same months of 2025.¹ As of early October 2026, April 2026 was the latest month that we found on Seðlabanki’s website.

These figures are in current krónur. Prices rose in the same period, so the same turnover buys a little less each year.

About 11,5 % of tourist spending goes to restaurants

Hagstofa Íslands estimates what foreign visitors spend in Iceland in each industry. The figures include day visitors from cruise ships. In 2025, foreign visitors spent 540,9 billion kr. in Iceland. Of that, 62,2 billion kr. went to restaurants and other food and drink service.³

The figures for 2025 are preliminary.³

Since 2023, tourists have spent more in Iceland each year, but a little less in restaurants. Spending on accommodation went the other way: from 123,5 billion kr. in 2023 to 146,7 billion kr. in 2025.³ Prices in restaurants rose in the same years, so the drop in the number of meals is likely larger than the drop in krónur.⁷

The same number of visitors, more nights

In 2025, 2.267.638 foreign passengers went through Keflavík airport, almost the same as the 2.261.391 in 2024.⁵ But foreign guests stayed more nights in hotels and guesthouses: 6.034.147 nights in 2025, which is 9,1 % more than in 2024.⁶

In 2026 the numbers are a little lower. From January to August, foreign passengers through Keflavík were 1,0 % fewer than in the same months of 2025.⁵ Foreign nights in hotels and guesthouses were 0,7 % fewer.⁶ The mix also changed:⁵

British guests come mostly in the cooler months, and American guests mostly in summer. Our seasons guide shows the months for each group.

Restaurant turnover since 2024

Hagstofa also publishes the turnover that restaurants and bars report on their VAT returns, for every two months. This covers all guests, both tourists and locals. The figures are without VAT and in million kr.⁴

Summer 2025 was strong: July and August were 8,4 % above 2024.⁴ In the first half of 2026, turnover was about flat. Restaurant prices rose 4,3 % from June 2025 to June 2026.⁷ Flat turnover at higher prices most likely means a few fewer meals sold.

Where foreign guests stay

Foreign guests spent 44,6 % of their hotel and guesthouse nights in the capital area in 2025, and 28,8 % in the South. But the smaller regions grew fastest from 2024 to 2025.⁶

A large percentage in a small region can come from a few new hotels or a new guesthouse. The Westfjords grew 55,9 %, from about 57.000 to about 90.000 foreign nights.⁶ That is still a small number next to the capital area, but for a restaurant in Ísafjörður it is a real change. The figures count nights, not spending. We did not find a free source that shows card spending by region.

How to use this in your restaurant

• Check the monthly card figures. Seðlabanki’s monthly release shows quickly if foreign spending is above or below last year. Put it next to your own sales for the same month.
• Count your own foreign guests. Your card terminal provider may be able to tell you what share of your card payments came from cards issued abroad. Ask them.
• Plan for flat volumes. In 2026 the national figures point to about the same number of tourists as in 2025, with prices still rising. Plan staff and stock on last year’s covers, not on last year’s krónur.
• Look at your region. If you are outside the capital area, the regional nights tell you more than the national totals.

In Resto, the back office shows your sales by day and by hour for any period, so you can compare this year with last year week by week.

About the numbers

• Foreign card turnover counts cards issued abroad. It includes foreign residents who use a card from home, and it does not include tourists who pay with cash or with an Icelandic card.²
• Card turnover is not the same as tourist spending. Hagstofa’s estimate of tourist spending is the better measure for the share that goes to restaurants, but it comes only once a year.³
• Rannsóknasetur verslunarinnar (RSV) paused its card turnover data by industry in the summer of 2024, after data from one large card acquirer stopped coming in.⁸ We did not find another free monthly source for restaurant card turnover.
• All figures are in current krónur and can be revised.