Iceland’s Whaling Industry Successfully Transforms into Ecotourism

The Icelandic government has forced traditional whaling companies to transform their business by increasing taxes and fines. Over the past five years, whaling costs have risen by 60%, and companies are turning to whale watching tourism. Whale-watching tourism generates more than $120 million in annual revenue, more than double that of the whaling industry. Whale populations in Icelandic waters have recovered by 30%, leading to the development of the Northern Lights and ecological research industry.