THE TERMS USED IN PRESENTATION
Sustainable travel – The World Commission on Environment and Development defines it simply as «meeting the needs of the present without compromising the ability of future generations to meet their own needs».*
Ecotourism - tourism that is designed to contribute to the protection of the environment or at least minimize damage to it, often involving travel to areas of natural interest in developing countries or participation in environmental projects.**
ISK - Icelandic Króna (currency code)***
Keflavik - Keflavik International Airport - Iceland's Main International Airport.****
Eyjafjallajökull - Glacier volcano, subglacial volcano, southern Iceland, lying within the country’s East Volcanic Zone. Its name is derived from an Icelandic phrase meaning «the island’s mountain glacier,»*****
Financial crisis - A financial crisis is a situation in which the value of financial institutions or assets drops rapidly.*
Economic efficiency implies an economic state in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.**
Environmental protection is policies and procedures aimed at conserving the natural resources, preserving the current state of natural environment and, where possible, reversing its degradation.***
The Icelandic Tourist Board is an independent authority under the Ministry of Industries and Innovation. Its activities are regulated through the Tourism Administration Act , with the overall authority in the hands of the Minister of Industry.
MMR is the international market research projects in Iceland.*****
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