In the midst of the economic turmoil affecting the globe it is important to not only look at the short term but to look further down the road. Even though the credit crunch has affect Iceland more severely than most western countries the long term economic outlook in Iceland is very positive. The untapped renewable energy sources, the highly advanced, comprehensive infrastructure and a young population with a high education level supports positive outlook for the future.

The Global Competitiveness Report 2008 – 2009 rates Iceland as the 20th most competitive economy in the world. Iceland jumps 3 places from the previous year overtaking both Ireland and Malaysia.