Central Bank of Iceland
Federation of Icelandic Industries
Ministry of Industries and Innovation
IT in numbers
Information & Communications Technology
The Icelandic environment
Iceland is a small and highly integrated society, where consumers are quick to adapt new technologies. The progressive and peaceful population lives in harmony with the forces of nature. Geothermal energy and glacial rivers provide efficient green energy, and at the same time, nature and landscape provide a continuous creative inspiration.
Born global in the middle of the North Atlantic
Icelandic companies are born global, due to the small domestic market. The population is small, which requires flexibility and willingness to adopt new technologies. The level of education is high, with people seeking education on both sides of the Atlantic and the nation has proved to have talent for innovation. Characterised by their surroundings, the Icelandic people are flexible, energetic and hard working, with a relaxed and informal attitude towards life, and open and welcoming towards newcomers.
Strong infrastructure for ICT
Iceland has developed a large-scale infrastructure that is well-suited to meet the new technological requirements of enterprises. This infrastructure has undoubtedly served as a major support for fast growth in the ICT industry, and the fast adoption of technological solutions throughout society. Iceland is a highly competitive location for the operation of Data Centers and has specialized in storage and disaster recovery for foreign companies, offering a unique low-cost location for large International Data Centres, low corporate tax and highly skilled IT labour.
Icelanders have a solution-focused mindset. The nation has a world-class IT infrastructure and possesses some of the world’s highest IDI performance according to the ICT Development Index, where Iceland ranks #3 in Europe and #4 Worldwide. This is the reason Iceland is one of the best test markets in the world. Iceland offers excellent research and development facilities where industries, educational & research institutes work in close collaboration with the business environment.
For further information please contact Andri Marteinsson, andri[at]promoteiceland.is or Björn H Reynisson, bjorn[at]promoteiceland.is