Once a certain portion of the population has been vaccinated the rebuilding phase can start. That point in time is later this year.
The main effort will be set on restarting the important tourism industry. The government will probably start a new international marketing campaign. The airlines are probably ready and once tourists start visiting us everything else will follow.
However, it will take a few years until the same number of tourists will visit Iceland as were before the pandemic.
The government has spent large amounts of money to help companies stay a float during the pandemic and most of them will survive. That will help rebuild the important tourism infrastructure.
Every hurdle brings new opportunities. We now have the opportunity to rebuild the tourism industry in a sustainable manner with focus on quality rather than quantity. Will that happen? At this moment chances are we will rebuild for quantity not quality.
At least we are seeing increased probability that things will soon return to normalcy. Soon the pearls of Iceland will again be shared with the world and when that happens we will be ready.