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Iceland's Keflavik Airport to Undergo $1 Billion Renovation
Emily McNutt
Contributor
Jan. 15, 2018
•
3 min read
Iceland's Keflavik Airport to Undergo $1 Billion Renovation
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In case you haven't heard, tourism in Iceland has been booming in recent years. In fact, according to Bloomberg, traffic at Reykjavik's Keflavik Airport (KEF) has grown more than five-fold over the past nine years. This year, the airport will see a predicted 10 million passengers pass through its terminals. But since the boom in tourism KEF has remained relatively unchanged — until now.
During the next seven to eight years, the airport expects to invest about $1 billion to help it accommodate more airlines, as the airport is the main gateway to the country — and the rest of Europe — for many travelers. It then hopes to see the investment and ability to accommodate more airlines as being able to offer more nonstop routes to the US and throughout Europe. As part of this investment, the potential to physically grow the airport is there, as it's surrounded by open lava fields. The airport was originally built by the US military during World War II.
In order to complete the proposed $1 billion in renovations, it'll require monetary assistance from foreign investors. The airport renovation would be a move that falls into the growing infrastructure push throughout the country. The newly appointed government expects investments to increase by 21% during the next five years — part of which would include KEF. The city of Reykjavik almost doubled its investments in 2017.
With the expansion of low-cost carrier WOW Air by connecting smaller US cities to Iceland, as well as Icelandair continuing its US expansion, there are more options than ever. Most recently, Icelandair announced that it was adding three US cities to its route network, including giving Kansas City (MCI) its first-ever nonstop transatlantic route. Plus, several legacy US carriers now offer — or are planning to offer — nonstop flights from the US to KEF. Its position also gives KEF the benefit of acting as a great stopover option for Europe-bound travelers.
As the tourism boom in Iceland continues, the ability for the country to be able to accommodate the influx of tourists becomes even more vital. Given that Keflavik Airport (KEF) is a major gateway to the country and Europe as a whole, this investment is needed to ensure that the airport can handle even more tourists flocking to the country.
Featured image by ullstein bild via Getty Images
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Best for dining at restaurants
TPG Editor‘s Rating
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Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
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$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
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- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.