The collapse of the Icelandic banking system is devastating to residents of the country, and scary for the rest of us in a "canary in the coalmine"-sorta way. But that doesn't mean we can't benefit from it all. Icelandair is now offering round trip flights to the country -- which the media keeps describing as 'one giant hedge fund' -- for just $400. That's cheaper than flying to Miami or LA, and you can't enjoy delicacies like rotten shark meat in those places. The Icelandair website spells it out:
With the dramatic increase in the value of the US Dollar against the Icelandic Krona, Iceland is now a top bargain destination, giving consumers nearly twice the spending power compared to last year.
In August 2008, USA today picked Iceland as on of 5 top destinations for Fall '08 travel. Since then the Dollar has become even stronger against the Krona, increasing in value by at least 25%.
Actually, it's not just USA Today. The NYT travel section has had a longstanding love affair with the Nordic island, as well.
