I was in Reykjavik for New Year last year. They take it pretty seriously in Iceland.

It starts off with 10 different bonfires being lit around the city then at midnight around 500 tonnes of fireworks going off!

There is some sort of law that states anyone can buy and let off fireworks over new year so literally every where you look for two hours they are going off everywhere.

If you can take the cold, there's also the fantastic scenery to take in.