Iceland

The downfall of WOW Air is really going to harm Iceland

The downfall of WOW Air is really going to harm Iceland

Iceland-based WOW Air went suddenly bankrupt at the end of March, leaving thousands of passengers stranded throughout the world. But now we’re seeing how much the airline’s shutdown has impacted Iceland’s economy. The central bank in Iceland has announced that the previously predicted 1.8 percent increase in the economy will now be a 0.4 percent decrease, stating that the “deterioration in the outlook is due primarily to a contraction in tourism,” alongside a decrease in marine product exports.

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