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The Icelandic Tourist Board is an independent authority under the Ministry of Culture and Business Affairs. Its activities are regulated through the Act on the Icelandic Tourist Board and the Act on Package Travel and Linked Travel Arrangements.

The Icelandic Tourist Board shall monitor and promote the development of tourism as an important and sustainable pillar of the Icelandic economy, having regard to the carrying capacity of Icelandic nature and society, as well as facilitate coordination, analyses and research in the tourism sector in accordance with government policy.