Harpa delivers both direct and indirect income to the country, according to a recent report by the Institute of Economic Studies (IES) at the University of Iceland.
The IES calculates that the income from Harpa is between 1,0 1,4 billion ISK per year, and can become up to 3 billion ISK a year if the introduction of the building goes well and attracts large conferences.
With the arrival of Harpa the facilities for holding large conferences in Iceland are significantly improved, but also musical events in the building has drawn hundreds of tourists to Iceland, an effect that has been noted by the tourist industry. One can assume that direct and indirect additional foreign exchange earnings due to the arrival of Harpa are between 1,0 1,4 billion ISK a year, after considering the domino effect. This number could rise significantly if more people come to Iceland specifically because of Harpa. The income from 12.000 foreigners coming to a conference in Harpa can be between 2,1-3,0 billion ISK a year. This is stated in a new report by the IES, which is the first part in a multifaceted research.