Icelandair soars above European crisis

As Icelandair’s 757 touches down, passengers who may not have come here five years ago head off to explore the Iceland’s famous landscape. In 2008, Icelandair capitalised on the plunging Króna.

As Icelandair’s 757 touches down, passengers who may not have come here five years ago head off to explore the Iceland’s famous landscape. In 2008, Icelandair capitalised on the plunging Króna.

On a crisp, cold, sunny winter’s day, I meet President Grimsson at his official residence just outside Rejkjavik. With minimal security, I’m led into the President’s library where we being talking about his controversial handling of the banking collapse three years ago.

There’s something cool about saying, “I’ll be in Iceland this weekend.” It’s a few years on from the nation’s trail-blazing financial crisis, and its unique, democratic approach, calling two referenda which led to the collapse of Iceland’s three main banks. Iceland finally became affordable for the rest of the world with a devalued Krona. Icelandair wasted no time shifting marketing budgets abroad, and tourists have been weekending in Reykjavik ever since.

Nothing anyone tells you can prepare you for the breathtaking beauty of the Blue Lagoon. My taxi driver must have heard the deep intake of breath, and exclamation, “Wow” a million times. On the approach, one is treated to the gorgeous bright blue water sparkling against a white lining, before the contrasting black volcanic rock.

Iceland’s design community is considered to be in its infancy compared to its sophisticated Scandinavian neighbours. It only established a design academy ten years ago, but an unlikely event has helped propel it. In a classic case of unintended consequences, Iceland’s financial crisis created an appetite for locally produced and designed goods. Reykjavik’s annual event, Design March, showcases Iceland’s home-grown designers.

David Varley is executive chef for the Michael Mina restaurant group. He’s flown more than 4000 miles to Reykjavik, and beat out 13 other chefs to make it to the finals of Iceland’s international food competition.
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