PESTLE Insights: Macroeconomic Outlook Report - Iceland
Macroeconomic Outlook Report of Iceland identifies the potentials of Iceland as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
Greater Reykjavik area generates 59% of the Iceland’s GDP. Green energy and advanced infrastructure along with lucrative government incentives create a favorable environment for the investors in Iceland. Financial and insurance services and information and communication sector exhibit a rising trend in the FDI inflows. It takes 3.5 days with five procedures to start a business in Iceland as compared to the OECD high income average of 8.3 days with 4.8 procedures as of 2017.
Iceland is the fastest growing smallest economy among all OECD nations. The country’s economic prosperity has been attributed to its comparative advantage in its marine and energy resources. Apart from that, the services sector has been the engine of economic growth. The country’s real GDP grew by 7.2% over the previous year in 2016.
Iceland’s performance in the GlobalData Country Risk Index 2017 exhibits its potential as a key investment destination for new business as well as expansion of existing business. The country exhibits low risk in terms of all risk parameters except technology and infrastructure when compared with other Nordic nations.
Reasons to buy
Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.