Market Research In Iceland

Iceland Profile:

  • Iceland is a Nordic island country of Europe located in the North Atlantic Ocean and is divided into 8 regions, 6 constituencies and 74 municipalities.
  • Iceland maintains a Nordic social welfare system that provides universal health care and tertiary education for its citizens.
  • Iceland ranks high in economic, political, and social stability and equality. In 2016, it was ranked as the 9th most developed country in the world by the United Nations’ Human Development Index, and ranks first on the Global Peace Index.
  • Iceland is a member of the UN, NATO, EFTA, Council of Europe and OECD, maintains diplomatic and commercial relations with practically all nations, but its ties with the Nordic countries, Germany, the United States, Canada and the other NATO nations.
  • Most macroeconomic indicators and employment have rebounded to pre-crisis levels, driven primarily by the unprecedented growth in tourism averaging over 20% annually, following the well-publicized volcanic eruption in 2010.

Iceland Economy:

  • Iceland has a market economy with relatively low taxes, compared to other OECD countries.
  • Iceland’s economy combines a capitalist structure and free-market principles with an extensive welfare system.
  • The economy depends heavily on the fishing industry, which provides 40% of merchandise export earnings, more than 12% of GDP, and employs nearly 5% of the workforce.
  • Since 2010, tourism has become the main pillar of Icelandic economic growth, with the number of tourists reaching 4.5 times the Icelandic population in 2016.
  • Iceland’s economy has been diversifying into manufacturing and service industries in the last decade, particularly within the fields of tourism, software production, and biotechnology

Iceland Facts:

  • Population: 339,747
  • Capital: Reykjavik
  • Largest city: Reykjavik
  • Area: 103,000 sq km
  • Major language: Icelandic, English, Nordic languages, German
  • Major religion: Evangelical Lutheran Church of Iceland 69.9%, Roman Catholic 3.8%, Reykjavik Free Church 2.9%, Hafnarfjorour Free Church 2%, Asatru Association 1.1%, The Independent Congregation 1%, other religions 4%
  • Life expectancy: 80.9 years (Male), 85.4 years (Female)
  • Monetary unit: 1 Icelandic Krona(ISK) = 100 aurar
  • Main exports: Fish and fish products (42%), aluminum (38%), agricultural products, medicinal and medical products, Ferro-silicon (2015)
  • GNI per Capita: $52,490

Our Market Research Services in Iceland:

We Employ A Wide Range of Research Techniques in Iceland:

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