Country and Nature
Iceland is a modern European economy with strong economic foundations in fisheries, natural renewable energy sources and human capital that will allow Iceland to overcome the economic difficulties it is going through, like so many other countries around the world.
Iceland's population is around 313.000 of which the vast majority or around 2/3 lives in the capital, Reykjavik, and surrounding areas.
Iceland is a republic, has a written constitution and a parliamentary form of government. The president is elected by direct popular vote for a term of four years, with no term limit. Most executive power rests with the Government, which is elected separately from the presidential elections every four years.
Iceland was the last European country to be settled, mostly by Norsemen in the 9th and 10th centuries. They came mainly from Norway and elsewhere in Scandinavia, and from the Norse settlements in the British Isles, from where a Celtic element was also introduced. The language and culture of Iceland were predominantly Scandinavian from the outset, but there are traces of Celtic influence in some of the ancient poetry, in some personal names and in the apperance of present-day Icelanders.
In environmental terms, Iceland is unique. Iceland is a large country (103,000 km², about the same surface area as Ireland or the State of Virginia), but is sparsely populated, with only 3 persons per km² living mostly along the coast. The interior of the country contains stunning contrasts. It is largely an arctic desert, punctuated with mountains, glaciers, volcanoes and waterfalls. Most of the vegetation and agricultural areas are in the lowlands close to the coastline.
Basic Facts
Geography:
Location: European island in the North Atlantic (3 hours' flight from London, 5 ½ hours from New York).
Capital: Reykjavik (population 120.000 approx.)
Total area: 103,000 km² (39,756 square.miles); vegetation: 23.1%, lakes: 2.7%, glaciers: 11.6%, wasteland: 62.6%.
Sea area within fishing limits: 758,000 km².
Coastline: 4,970 km.
People
Population 2008: 313.000 (2.9 per sq. km).
Ethnic groups: Homogenous mixture of descendants of the original Nordic and Celtic settlers.
Religion: State Lutheran Church 84%.
Government
Type: Republic since 17 June 1944. Independent since 1 December 1918.
President (since 1996): Mr. Olafur Ragnar Grímsson.
Prime Minister (since 2009): Mrs. Jóhanna Sigurðardóttir. The cabinet is responsible to the legislature (Althingi).
Economy
Currency: Icelandic krona (ISK) (Rate of exchange - See Central Bank exchange rates).
Gross domestic product (GDP) per capita 2007: USD 54,000
Labour force: 180.000 (2008).
Unemployment: 4% (2008, 4th quarter).
Employment by industry (approx): Agriculture: 3%. Fishing: 3% Industry: 20%. Services: 70%
Nature
In environmental terms, Iceland is unique. Iceland is a large country (103,000 km², about the same surface area as Ireland or the State of Virginia), but is sparsely populated, with only 3 persons per km² living mostly along the coast. The interior of the country contains stunning contrasts. It is largely an arctic desert, punctuated with mountains, glaciers, volcanoes and waterfalls. Most of the vegetation and agricultural areas are in the lowlands close to the coastline.
Iceland has very mild, coastal weather. The average summer temperature in Reykjavik, the capital, is 11.8°C/53°F in July, with average highs of 24.3°C/76°F. Iceland has a pure, pollution-free environment. Industry is operated almost exclusively with clean hydroelectric and geothermal power. For more on nature in Iceland, click on the items on the right.
Economy and Industry
Iceland achieved an impressive economic record the last decade, with one of the highest consistent growth rates in the world and low inflation and unemployment. At the end of 2008, however, Iceland was in the headlines of the international press for unenviable reasons. In the wake of the global financial crisis, Iceland's three largest private banks experienced major liquidity problems and were, within the space of a few days, taken into government administration.
The collapse of the banking sector, which was very large relative to Iceland’s economy, together with rapid depreciation of the Icelandic krona, brought about an unprecedented economic and financial crisis.
However, the foundations of the Icelandic economy remain strong and Iceland is moving towards economic recovery with multilateral assistance from the International Monetary Fund playing a key role. Iceland’s clean energy, its marine resources, strong infrastructure and well-educated workforce, provide a firm basis to overcome the current economic difficulties and implement necessary reforms.
Government & Politics
Iceland is a republic, has a written constitution and a parliamentary form of government. The president is elected by direct popular vote for a term of four years, with no term limit. Most executive power rests with the Government, which is elected separately from the presidential elections every four years.
Althingi is a legislative body of 63 members elected for a term of four years by popular vote. Anyone who is eligible to vote, with the exception of the President and the judges of the Supreme Court, can stand for parliament. After every election, the President gives one of the parliamentary leaders of the political parties the authority to form a cabinet, usually beginning with the leader of the largest party. If he is not successful, the President will ask another political party leader to form a government. A cabinet of ministers stays in power until the next general election or a new government is formed. The ministers sit in Althingi, but if they have not been elected, they do not have the right to vote in parliament. Judicial power lies with the Supreme Court and the district courts.
History & Culture
Iceland was the last European country to be settled, mostly by Norsemen in the 9th and 10th centuries. They came mainly from Norway and elsewhere in Scandinavia, and from the Norse settlements in the British Isles, from where a Celtic element was also introduced. The language and culture of Iceland were predominantly Scandinavian from the outset, but there are traces of Celtic influence in some of the ancient poetry, in some personal names and in the apperance of present-day Icelanders.
All branches of the arts flourish in Iceland, especially painting, which started in earnest at the turn of the century. Literature has always been the mainstay of Icelandic culture; other aspects of the national heritage that used to be important in past centuries include manuscript illumination, woodcarving and folk music. There are many theatre companies in Iceland, including a National Theatre. In Reykjavík there is a symphony orchestra, an opera house and ballet company. International performers make regular visits, especially to the Reykjavík Arts Festival.
People & Society
Iceland is the most sparsely populated country in Europe with an average about three inhabitants per square km. Almost four-fifths of the country are uninhabited and mostly uninhabitable, the population being concentrated in a narrow coastal belt, valleys and the southwest corner of the country.
Iceland's population is around 313.000, 2/3 of them live in the capital, Reykjavik, and surrounding areas.
Iceland is a progressive modern European society with a high standard of living and a high level of technology and education.
Travel Leisure
The island of contrasts, where heaven and earth meet, and where the Sagas of the Vikings were written, a land of glaciers, erupting volcanoes and the magnificent midnight sun. In Iceland you will find everything you need to make your vacation, conference or incentive successful and memorable. Hotels, conference facilities, support services and modern comforts are as good as anywhere in the rest of Western Europe. There is a multitude of bars and fine restaurants in Reykjavík.
What makes Iceland stand out as a venue is its unique natural beauty and absence of pollution. Dramatic volcano and glacier scenery-and conversely, action packed incentives are there waiting to be enjoyed by visitors. Reykjavík, the capital city is next door to nature. Iceland is only about a 3-hour flight from most European cities and 5 hours from the North American Eastern seaboard. From Reykjavík you can fly to many towns and tourist attractions around the country, such as Akureyri, the capital of the north, with its beautiful surrounding scenery, or the Westman Islands.
Leisure
Icelanders work hard - they average one of the longest working days in Europe - but they also play hard. Weekends in downtown Reykjavík are a special experience. You will find many opportunities to enjoy fine food and entertainment.
One of the advantages of living in Iceland is the endless and ubiquitous flow of geothermal water streaming from the earth. This hot water is used for open-air swimming pools all around the country, which serve as health spas and as pleasant places to meet people. Horse riding is an extremely popular leisure pursuit. There is a wealth of opportunities for healthy and adventurous pursuits - like river rafting, whale watching, salmon and trout fishing, sea angling, glacier trips and unforgettable 4 x 4 expeditions over the highlands.
