Iceland gives a totally unique expat experience

Even for prospective expats less than obsessed with the World Cup and football in general, Iceland is an interesting choice.

Iceland first hit the world’s media during the 2008 financial crash, during which its economy was devastated, its three biggest banks collapsed, investors fled in panic and thousands of businesses were bankrupted. Ten years later, it’s the poster child for success, It’s thriving as never before and its GDP is increasing by leaps and bounds, making it the perfect place for expat entrepreneurs with investment capital.

Icelanders’ sheer grit is one good reason for the island's swift climb out of the depths of a world crisis, as it’s evident in many other aspects of the country and its infrastructure. Iceland is now a world leader in green energy, with all its power needs met by geothermal and hydro-energy projects. Another green solution is applied to its fishing industry, eradicating the waste product throwaway usual in the sector by turning it into commercially viable by-products. With its geographic situation halfway between Europe and the USA, it’s perfect as a trans-Atlantic hub, with 20 airlines serving crucial business routes.

Most importantly, it’s the ideal location for data centres due to its cooler climate and vast, high-bandwidth trans-Atlantic undersea connections, more of which are now under construction. Iceland is also a world leader in life sciences, including cancer research and human genetics research. Seven first-class universities attract many hundreds of students from all over the world to their English language degree courses. Most importantly for expats looking for a peaceful lifestyle, Iceland holds that honour – maybe because of its gender equality and excellent education.

Expat professionals with experience of working in the country say Icelandic companies are more streamlined than in many other business destinations. The hierarchical structures common to European and USA companies are rarely encountered, and working styles make for far more direct and concise meetings. Informality is such that meetings often take place over a drink, coffee or a dinner. For those who can’t stand the cold, the Gulf Stream is your friend as it ensures temperatures similar to those in the northern regions of the UK.