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About Iceland

Overview

Defined by its remarkable arctic landscape, the sparsely populated Iceland grabs the attention of travellers across the globe. This Nordic island nation is home to only 338,000 people, and their high quality of living and prospering economy attracts worldwide investment. Therefore, there is a modern-day demand for Icelandic serviced apartments.


About Iceland

Despite being the second-largest island in Europe and the 18th largest in the world, almost 80% of the land is desolate. The mountainous and alpine landscape is mostly responsible for this. Over 11% of the country is covered by glaciers, including the largest in Europe, Vatnajökull. This arctic desert landmass grows every year and epitomises natural geologic activity. The country is crammed with mountains, hot springs and volcanoes. This glacial desert island encourages over two million people, including corporates, to visit Iceland each year.

Popular belief suggests that the uninhabited island of Iceland was discovered by Norwegian Vikings in the late 9th century. With the territory open to anyone wanting to occupy it, the country has a history brimming with foreign and religious influence. Occupation and invasion came from nations across the globe. It was not until 1944 that Iceland was an officially independent state. The population voted massively in favour of separation from the Danish rule. The national day is now on June 17th, the birthday of Jón Sigurdsson, who was the leader of the nineteenth-century Icelandic independence movement.

ICELAND ECONOMY

International trade characterises the Icelandic economy. Its exports of marine products, fishing related goods and wooden items are immensely important for their trade with partners like the US, Japan and EU countries. Despite withdrawing from the European Union in 2015, the country still enjoys free trade and services with the EU. Ever since an economic collapse in 2008, Iceland’s economy has surged. The tourism industry has sky-rocketed with visitors paying attention to the country’s ranking as the 11th freest economy according to the 2018 world index. With the GDP rising back to 70,000 per capita, corporate investors and owners are recognising the potential of conducting business in Iceland.

Although you’ll probably find that the Icelandic people do not carry lots of money, it’s still worth knowing the official currency is the Icelandic Króna (ISK). The people make most of their payments with debit or credit cards, but if you still want to bring some currency with you, visit the Central Bank of Iceland website, for the official exchange rates.

LIVING IN ICELAND

Before visiting Iceland be aware that the country has no rail-based transport services available. Driving across Iceland though enables travellers to experience all the country’s wonders independently and at their own pace. Icelanders drive on the right and have a good awareness of the local hazards and rough conditions. We recommend driving along the Icelandic Ring Road. The road is 832 miles long and stretches all along the scenic coastline. The road is perhaps the safest and best-maintained in the country and incorporates a great range of Icelandic natural wonders. It is obviously very important to be aware of hazardous road conditions further into the country’s interior. Off-roading driving has become illegal in Iceland.

Icelandic weather can be dangerous for new visitors, changing dramatically without warning. To minimalise the chances of succumbing to potentially hazardous terrain and weather conditions, come prepared. Wear appropriate clothing, bring maps and avoid venturing across potentially dangerous land. There is no shame in planning early and asking the locals for their advice. The law consists of nothing too irregular, but respecting Icelander’s social norms and etiquette should ensure you encounter no problems.

If you are staying in Iceland for less than 90 days whilst on business, and are a resident of EU countries, the US, or Australia you do not require a visa to enter the country. There are hundreds of more countries who are exempt too, so visit the Icelandic immigration website for more information.

THINGS TO DO IN ICELAND

A considerable amount of Iceland’s tourist attractions incorporate the unique terrain and landscape. The Golden Circle is the perfect attraction for those looking to embrace the country’s astonishing scenery. It is a hotspot for tours, and the first stop is the southwest national park, Þingvellir. Marking the summit of the Mid-Atlantic Ridge, the park also includes Iceland's largest natural lake and plentiful geological significance.

Skaftafell exemplifies Iceland’s nature too, on a surreal and outlandish level. The Svartifoss waterfall surrounded by glacial rivers, amazing cliffs and black desert sands makes for a truly humbling experience. Staying in a serviced apartment could bring you closer to Iceland’s famous spas as well. Iceland’s proud geothermal resource provides energy for over 80% of Iceland’s buildings. This power can be felt for yourself if you soak in the popular Blue Lagoon. Allegedly having natural healing powers, the geothermal spa is the perfect way to release any harmful stress.

On the whole, Iceland's stunning scenery and growing business potential have not gone unnoticed by business travellers. With that in mind, serviced apartments are expanding in Iceland in order to home the many corporates looking to seize the opportunity of living and working in Iceland.

Transport

Keflavík International Airport (KEF)

Iceland’s largest airport is the focal point for the country’s worldwide transportation. The airport will undergo expansion soon though to accommodate for the increasing number of passengers.

The airport is approximately a forty-five minute drive from the capital, and continuous day and night bus services grant you access to your serviced accommodation in a range of locations.

Reykjavík bus system

Despite the shrinking network of bus services in Iceland, Reykjavik has a practical, helpful bus network. They are ideal for city travel and stop-offs at main attractions.

We advise investing in a Reykjavik City Card, granting you unlimited travel for one to three days and easy admission to Iceland’s main attractions.