The Icelandic fairytale came to an end last night when they crashed out of the tournament at the hands of host nation France but Hallgrimsson believes that once they recover from that disappointment of that 5-2 defeat they will go on to appreciate what they have accomplished.
"I think that it will sink in in a few days when they start to read the papers and see what has been written. You lose all the media thing when you're in the tournament and you don't see the TV, especially the Icelandic TV, so I think it will sink in really quickly after the tournament," he said.
"It will change their lives, you wait and see.
"Icelanders are really proud of this achievement and you can see that in the numbers, both the numbers that came here and also those who came together in Reykjavik and everywhere to watch the games. So I think it has brought the nation closer to each other and that's fantastic when you are a part of something that does that."