The Traveling Professor has run several small group tours to Iceland. Here is why people are traveling there:
Spectacular Natural Beauty: Where else can you see gigantic waterfalls, active volcanoes, black sand beaches, geysers, whales and other wildlife, and glaciers all in one place? And in the winter, the Northern Lights are unbelievable.
It's Not That Far: Only a 5-hour flight from the Northeast.
Airfares are Reasonable: Icleandair is my favorite airline. Why? Fares are proportionately lower than the legacy carriers (AA, Delta, United) to Europe. They also don't have those ridiculous change fees or baggage fees. In other words, they make it a more pleasant experience to fly - at a lower price. If looking for a real bargain airfare, try WOW airlines at a base fare of $99 each way.
It's Really Not That Cold: I track the temperatures on a regular basis. Reykjavik is not much colder than New York City.
It Has a "Frontier" Feeling: It is different in Iceland. 300,000 people live in all of Iceland. The city is vibrantly new and the average age of the population in under 30. They are fiercely independent people who claim THEY discovered America. It's a fun city with a pioneering culinary culture.