We’ve all heard Iceland being mentioned in the news lately, but it’s usually in relation to the economy. What those stories don’t tell you is that because the economy in Iceland is tanking, it’s actually a great time to visit. Just think – you’ll be getting a bargain vacation in a gorgeous country, and you’ll be helping out the local economy at the same time. Perhaps they should hand out “I Saved Iceland” T-shirts at the airport to incoming tourists. But I digress…

This deal from IcelandAir is excellent – for $400 per person, you can snag yourself a round-trip ticket in coach from either New York City or Boston to Reykjavik. If you want to splurge a little, you can get a seat in “Economy Plus” (which I gather is Icelandair’s version of business class) for $800 per person round-trip.

To take advantage of this deal, you’ll need to book no later than October 21, 2008, and your travel dates will need to be between November 1, 2008 and March 31, 2009. You’ll also need to include a Saturday night stay in your itinerary, and can stay no longer than one month. Be sure to read all the rules and such before you book, and don’t forget to make room in your suitcase for a wool scarf and down coat.