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 FASCINATING ICELAND
THAT'S ICELAND!
Even though Iceland is a rather small country being just the size of former East Germany (103 000 sqm), it has a fully established political system and a well run economy. Its living standard is higher than the Federal Republic of Germany. Between 1995-2003 the GDP in Iceland has increased annually by 2.5%.
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THE ICELANDERS
Icelanders are very busy people, they work hard, on average 41,8 hours per week. They are mainly employed in the service sector even though the largest source of tax income is produced by the fishing industry. As automatization in this part of the Icelandic economy has reached a very high level, you can find only a few jobs. The unemployment rate is about 4%.
Even though Icelanders are very hard-working people, they do not forget to celebrate and of course not to drink. Fortunately it can be stipulated that even though the consumption of beer has increased in recent years the use of liquor has dropped. Icelanders mainly consume meat produced in the country itself such as mutton, beef, pork and poultry with all their related products as well as Icelandic fish. The production of vegetables concentrates on tomatoes, cucumbers, potatoes and wheat. All other food is imported. In Europe Icelanders have the highest life expectancy, at the same time they are the youngest European people with a percentage of 23% of the population under 15 years of age. In comparison, Germany has a percentage of 15%. Iceland is one of the few countries in Western Europe with an increasing number of inhabitants. From 1950 (143 000 inhabitants) to 1995 (268 000 inhabitants) up to 2005 (291 000 inhabitants). For 2030 the number of inhabitants is estimated at 342 000.
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ECONOMY OF ICELAND
Besides the most traditional sector of the Icelandic economy, fishery, other parts such as tourism and internet technology have been growing fast in recent years. The amount of tourists coming to Iceland every year has been increasing constantly. In the year 2000 it exceeded the number of inhabitants for the first time. Most of the people that come to Iceland are Germans followed by British and US Americans. Besides the more traditional way of touring the island by car or bus, cruise ship tourism has become a growing sector. Due to the fact that Iceland depends heavily on their fish industry it does not belong to the EU. It belongs still to several other political unities. It freed itself from isolation which had lasted for centuries; another factor is the development of modern flight-connections between Iceland and Europe.
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POLITICAL SYSTEM OF ICELAND
In Iceland you can find 5 political parties and a few smaller splinter parties which are all represented in the Althing, the Icelandic parliament, with its 63 delegates. Olafur Ragnar Grimsson was elected on 26.06.2004 as the new president of Iceland.
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GEOLOGY
Iceland was created by several volcanic eruptions out of a hot spot 20 mio years ago which occurred on the Middle Atlantic Ridge. Therefore, the oldest parts of the island are located at the west and east coast of the country whereas the younger part runs through the middle of Iceland, the so called active volcanic zone. All over the country there are hot springs which nowadays are canalised to supply hot water to Icelandic homes. There are still active volcanoes which break out on average every 5 years. In 1971 the last large eruption took place on the Westman Islands. Still today you can find new and still warm lava.
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HISTORY
In the 9th century AC. the country was settled by Vikings and Irish celts. There is a long cultural tradition which is mainly reflected in the field of literature for example in the Icelandic Sagas but also by several contemporary authors. Furthermore you can find impressive cultural achievements by Icelandic painters, musicians and actors.
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THE LANGUAGE OF ICELAND
The Icelandic language originates from Old Norwegian, the language of the Vikings. Icelanders are mainly protestants but there are still a few of them who are pagans.
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TIMEZONE
In Iceland you will find Greenwich Mean Time. In the months of summer you have to set your watch back 2 hours, in winter time you just set it 1 hour back.
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OPENING HOURS
The shops in Iceland are open Monday to Friday from 9 a.m. to 6 p.m., on Saturdays from 9 a.m. to 4 p.m. On Sundays you will find the tourist shops and a few supermarkets open. Banks are open Monday to Friday from 9 a.m. to 4 p.m.
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CURRENCY
The Icelandic currency is the Icelandic Krona. You can find the current exchange rate at  www.oanda.com
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TRAVEL DOCUMENTS
For European citizens an ID card is sufficient when travelling to Iceland. Due to the Schengen treaty there is no passport control at the airport. For citizens of other nationalities a visa is required which you may acquire at the Icelandic consulate or embassy.
CONTACT
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