Iceland is unique country, with unique characteristics that separate it from the rest. Its society and economy reflect that. First of all, Iceland has a mixed economy with high levels of free trade and government intervention. In addition, it is one of the few countries located in Europe that is not part of the European Union. Hence, Iceland has its
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It is known that the Icelandic stock market suffered a great deal in the crisis of 2008. After having reached its peak of 3495, the OMX Iceland All-Shares Index collapsed to its bottom at 167 on April 8, 2009, a fall of 95.2% from top to bottom. Since then, the market has steadily recovered and the index currently stands at
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The architecture and construction style of Iceland is very particular and unique. While it draws from Scandinavian influences, it was influenced by the lack of native trees on the island. Stone and later concrete became popular building materials. In addition, grass- and turf-covered houses are not uncommon to see. Currently, The Iceland Construction Authority is in charge of planning, controlling
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The healthcare system of Iceland stands out from the rest not only because of its quality but also its far reach. The country has universal healthcare and is mostly paid for by taxes (85%) and to a lesser extent by service fees (15%). There is almost no private health insurance in Iceland and no private hospitals. This system, that might
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The banking sector of Iceland has been widely studied throughout the last decades. Unlike the rest of the world, after the last financial crisis of 2008, Icelandic banks were not bailed out by the state or any other public entity. In that time, banks were 10 times the GDP of Iceland and 20 times the state budget. They were just
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Remote working has never been more important and broader across the globe. Due to Covid-19, the need for professional freelancers and top talent in Iceland was made a trend. Iceland stands-out internationally as a leader provider of educated workforce. The workforce in Reykjavik Capital Area is well educated with 41% of the inhabitants achieving a university degree. In addition, Iceland
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In Swapp Agency, we understand that in B2B, our customers seek to save time and money in their production process. Many companies don’t consider B2B actions and fail at expanding their business abroad. Iceland is a very particular market where expertise is crucial for foreign or local investment success. The country is very open, however, companies must understand how locals
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The economy of Iceland has grown more than 33% in the last 10 years. Consumer spending and retail in Iceland have kept the same or even faster pace. Foreign ownership of business is welcome in Iceland, with few exceptions regarding fishery and energy production. It is very easy to establish a business in Iceland, which was listed as a top
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Iceland is one of the few countries located in Europe that is not part of the European Union. Moreover, Iceland it has its own central bank and currency, the Icelandic Króna. This uniqueness brings Iceland the advantages and disadvantages of having its own monetary policy. For example, while the country is capable of devaluing the Icelandic currency to gain competitivity,
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Iceland – A Bitcoin Miner’s Dream Although Iceland is an incredibly beautiful country, it has also faced ugly times. In 2008 it was completely shatter by a financial crisis that almost completely crippled the economy. Despite the devastating effects of the crisis, efforts by the government narrowly avoided bankruptcy. Nearly every resident was affected by this situation and in the
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