Why now? Sorry, Icelanders, but for tourists, frozen accounts, financial meltdown and a 50% fall in the value of the krona mean one thing: "Kerching!" A weekend in the capital is suddenly affordable. Tour operators say meals are £10-£20 cheaper, drinks £4 instead of £6, and the wacky design shops are full of bargains.

Getting there Iceland Express (01279 665220, icelandexpress.com) from Stansted, from £138 return.

Where to stay Askot (askot.is) is a simple B&B in a quiet but central part of town, rooms from £38.

Where to eat Fish Market (00354 578 8877, fiskmarkadurinn.is) has a hot young chef who does Asian fish in a hip bamboo-lined dining room. And don't leave without tasting a bowl of steamy, creamy lobster soup from the harbourside Sea Baron (+553 1500, saegreifinn.is).