Tourism's recovery potential is shown by Iceland
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Similar to Dubai around the turn of the year, Iceland is currently demonstrating the pent-up demand for tourism
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Visitors to Iceland in May were up 14x yoy but still merely 16% of the prior 10-year average for May
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Pre-Covid, tourism was a 12.5% direct contribution to GDP in Iceland; this is over 5% in many emerging markets
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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