Thorir Gardarsson, chairman of Gray Line, one of the island’s biggest bus companies, also blames recent talks on the possible hiking of tourism taxes as a reason why "travel agencies have cut back on Iceland trips."
Not everybody’s worried.
"I have been in this business for 40 years and I am very optimistic and don’t see any signs of a collapse," said Thrainn Larusson, owner of Hotel Hallormsstadur. "The industry is simply reshaping a bit."
This article was provided by Bloomberg News.