Iceland is an island in the Atlantic Ocean, located near the Arctic Circle. An island of 103.000 km2 it is about the same size as Hungary and Portugal
, or Kentucky and Virginia. There has been considerable growth in foreign card turnover in Iceland in recent years.
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Iceland is one of the wealthiest and most developed nations in the world.
In 1994, it became a part of the European Economic Area, which further diversified the economy into sectors such as finance, biotechnology, and manufacturing.
Iceland became an independent democracy on June 17, 1944 and has a written constitution and a parliamentary form of government. The people of Iceland celebrate the 17th of June as their Independence Day.
In 2007 Iceland together with Norway ranked first on the United Nations ́ Human
Develpment Index. Iceland is also number one in Europe when comparing the competitiveness of countries according to IMD ́s World Competitiveness Yearbook and the world ́s sixth in terms of gross domestic product (GDP) per capita. Icelanders have the second highest life expectancy in the world.
Religion of Iceland:
Freedom of religion is guaranteed in Iceland by the Constitution. 85% of population belongs to Congregational community.
Icelandic is the official language and English as a secondary language.
Economy of Iceland:
Krona is used as a currency in Iceland. one of the highest consistent growth rates in the world and low inflation and unemployment. Iceland’s average tariff rate is 1.1 percent. The government restricts imports of meat and dairy products and caps investment levels in a few sectors of the economy, including energy and aviation. Iceland has restructured and recapitalized its banking system. Iceland has a mixed economy with high levels of free trade and government intervention. However, government consumption is less than in other Nordic countries. In the 1990s Iceland undertook extensive free market reforms, which initially produced strong economic growth. Iceland has a mixed economy with high levels of free trade and government intervention. However, government consumption is less than in other Nordic countries. In the 1990s Iceland undertook extensive free market reforms, which initially produced strong economic growth.
The current national road system connects most of the cities and is largely in the coastal areas. It consists of about 12,691 kilometers. There are no railroads in Iceland. Airplanes and ships conduct travel between Reykjavík and Iceland’s smaller cities. Additionally, there are daily international flights from Iceland to Europe and North America. There are 12 airports with paved run-ways.
Tourism of Iceland:
Tourism’s share of foreign exchange earnings has grown from 18.8% to 27.9 % between 20 10–2014. There has been considerable growth in foreign card turnover in Iceland in recent years. In 2012, card turnover was more than 74 billion; this had risen to more than 112 billion in 2014.
Let us know some bizarre facts about Iceland:
- Beer is illegal in Iceland.
- Iceland is one of the Nordic countries and part of Scandinavia (Denmark, Finland, Iceland, Norway, and Sweden).
- Reykjavík is the capital city of the Republic of Iceland.
- Hvannadalshnukur (2,119m) is the highest point in Iceland.
- Being located very close to the Arctic Circle, Iceland experiences long winter nights and long summer days, with almost 24 hours of darkness/twilight in December and nearly 24 hours of daylight in June.
- 60% of the Icelandic population lives in Reykjavík.
- first democratically elected female and openly gay Prime Ministers.
- There aren’t any McDonald’s Restaurants anywhere in Iceland.
- Icelanders watch more movies than any other nation.
- Handball is a national sport game of Iceland.
- Soccer is Iceland’s favourite team game.
- Hekla is Iceland’s most active volcano; Hekla is also a common female name in Iceland.
- Iceland is home to the very first parliament grounds in Europe.
- Glaciers are responsible for carving out everything in Iceland that hasn’t been shaped by magma and earthquakes.
- There are no mountains in Iceland — just valleys. If you look closely, most of the mountains here are relatively flat on top.
- In 1956 boxing was banned here. In 2002 amateur boxing was allowed under strict conditions, but professional boxing is forbidden until this day.
- Geothermal fields cover up to 20% of the country’s electricity needs.
- In 2010 Iceland banned strip clubs.
- Iceland does not have army, navy or air force, only the coast guard. If an Icelander wants to serve in the military, they can join the Norwegian army according to an agreement between the two countries.
- The majority of Icelanders are descendants of Gaelic (Celtic) and Germanic settlers.
- It is an interesting fact about Iceland that they are the NATO member with the smallest population.
- Iceland is the world’s 18th largest island, and Europe’s second largest island after Great Britain.
- Half of Iceland’s exports are from the fishing industry, making it one of the major sectors of the local economy.
- Whale watching has also become an important part of the economy. With over 1.1 million visitors to the island a year, this has become one of the favorite tourist attractions.
- The Icelandic police don’t carry guns. Crime in Iceland is very low and violent crime is practically nonexistent.
Thanks for reading Iceland is an island in the Atlantic Ocean which located near the Arctic Circle. An island of 103.000 km2 it is about the same size as Hungary and PortugalIceland is an island in the Atlantic Ocean, located near the Arctic Circle. An island of 103.000 km2 it is about the same size as Hungary and Portugal.