Iceland marks the crossing of the Arctic Ocean and North Atlantic with its capital (Reykjavik) being the most northern capital in the world. Iceland is also the most sparsely populated country in Europe and is still volcanically and geologically active.
Iceland has a free market economy which means the need for resources is based on the supply and demand for them. Their GDP is estimated at around $14.6 billion (2012) with 40% of its exports being fishing related. Iceland used to be one of the poorest countries in Western Europe, but it has come a long way since then and was rated the 14th most developed country, in 2012, by the United Nations Human Development Index. The country has a Nordic Social Wellbeing System which provides health care and education for the population. Iceland also provides 85% of its energy supply from renewable energy.
Tourism has only recently been noticeably contributing to Iceland’s GDP with 672,000 tourists visiting in 2012. 45% of these tourists tend to visit in the countries summer months, with most of them coming from Central/ Southern Europe. Some of the most popular destinations include visiting their volcanic hot spots, whale watching, hot springs and national parks.
Although there are limited serviced apartments throughout Iceland, they provide those visiting the country on business with an ideal accommodation option. By providing more space and flexibility, all at affordable rates, a serviced apartment offers the perfect alternative to an overcrowded hotel, especially for long term stays.
Currency: Icelandic Króna (ISK)
Dominant religion: Lutheran faith
Time zone: (UTC+0)
Main Exports: Fish and fish products
Internet domain: .is
International dial code: +354