Location of Iceland

Iceland is a Nordic island country in the North Atlantic Ocean. It has a population of 356,991 and an area of 103,000 km2 (40,000 sq mi), making it the most sparsely populated country in Europe.[1] The capital and largest city is Reykjavík. Reykjavík and the surrounding areas in the southwest of the country are home to over two-thirds of the population. Iceland is volcanically and geologically active.

Iceland has a market economy with relatively low taxes compared to other OECD countries.[2] It maintains a Nordic social welfare system that provides universal health care and tertiary education for its citizens.[3] Iceland ranks high in economic, political and social stability and equality. In 2013, it was ranked as the 13th most-developed country in the world by the United Nations' Human Development Index.[4] Iceland runs almost completely on renewable energy. Affected by the ongoing worldwide financial crisis, the nation's entire banking system systemically failed in October 2008, leading to a severe depression, substantial political unrest, the Icesave dispute, and the institution of capital controls. Many bankers were jailed,[5] and the economy has made a significant recovery, in large part due to a surge in tourism.[6][7][8]

As of 2011, there are approximately 32,500 companies registered in Iceland of which 14,500 (45%) are active.[9]

Notable firms

This list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmark taxonomy. Organizations which have ceased operations are included and noted as defunct.

  Active firms
  State-owned firms
  Defunct firms

Name Registered name Industry Sector Headquarters Founded Notes
365 365 - miðlar ehf Consumer services Media Reykjavík 1986 Broadcaster
Advania Advania ehf Technology Software Reykjavík 2012 Information technology
Air Iceland Flugfélag Íslands ehf Consumer services Travel & leisure Reykjavík 1997 Airline; merged with Icelandair
Arctic Trucks Arctic Trucks Ísland ehf Industrials Commercial vehicles & trucks Reykjavík 1990 Exploration and commercial vehicles
ÁTVR Áfengis- og tóbaksverslun ríkisins Consumer services Retail Reykjavík 1998 Alcohol/tobacco state monopoly
Bónus Bónus Consumer services Retail Reykjavík 1989 No-frills supermarket
Carbon Recycling International (CRI) Carbon Recycling International Oil & gas Alternative energy Reykjavík 2006 Renewable methanol
CCP Games CCP hf Technology Software Reykjavík 1997 Video game developer
Dagsbrún Dagsbrún ehf Conglomerates Reykjavík 2003 Telecommunications, media, security
deCODE genetics Íslensk erfðagreining ehf Health care Biotechnology Reykjavík 1996 Gene research
Egill Skallagrímsson Brewery Ölgerðin Egils Skallagrímsson Consumer goods Food & beverage Reykjavík 1913 Brewery
Eimskipafélag Íslands Eimskipafélag Íslands hf Industrials Marine transportation Reykjavík 1914 Nasdaq Iceland: HFEIM, The Icelandic Steamship Company
FRISK Software International Friðrik Skúlason ehf Technology Software Reykjavík 1993 Antivirus software
Hagar Hagar ehf Consumer goods Food & beverage Reykjavík 2003[10] Food holding, includes Hagkaup and Bónus
Hagkaup Hagkaup Consumer services Retail Reykjavík 1959 Hypermarket chain
HB Grandi HB Grandi hf Consumer goods Food & beverage Reykjavík 2004[11] Fishing
Icelandair Icelandair ehf Consumer services Travel & leisure Reykjavík 1937 Airline
Icelandair Group Icelandair Group hf Consumer services Travel & leisure Reykjavík 1937 Travel and tourism group
Íslandsbanki Íslandsbanki hf Financials Banks Reykjavík 2008 State-owned bank
Íslandspóstur Íslandspóstur hf Industrials Industrial transportation Reykjavík 1776 Postal services/shipping
Landsbanki Landsbanki Financials Banks Reykjavík 1885 Defunct 2008
Landsbankinn NBI hf Financials Banks Reykjavík 2008 State-owned bank
Mannvit Engineering Mannvit hf Industrials Industrial engineering Reykjavík 1963 Engineering and consulting
Marel Marel hf Industrials Industrial machinery Garðabær 1983 Nasdaq Iceland: MARL
Marorka Marorka ehf Technology Software Reykjavík 2002 Energy management software and research
MP Bank MP Banki hf Financials Banks Reykjavík 2003 Investment/commercial bank
Nói Síríus Nói-Siríus hf Consumer goods Food & beverage Reykjavík 1920 Chocolates
Nyherji Nýherji hf Technology Computer services Reykjavík 1992 Computer services, software consulting
Ossur Össur hf Health care Medical Equipment Reykjavík 1971 Nasdaq Iceland: OSSR
Promens Promens hf Industrials General industrials Kópavogur 1984 Packaging, plastics
RÚV Ríkisútvarpið ohf Consumer services Media Reykjavík 1930 The Icelandic National Broadcasting Service
Síminn Síminn hf Telecommunications Fixed line telecommunications Reykjavík 1906 Also provide mobile telecom
Sláturfélag Suðurlands Sláturfélag Suðurlands svf Consumer goods Food & beverage Reykjavík 1907 Food producer co-op
Teris Teris Technology Software Kópavogur 1989 Financial software
Solid Clouds Solid Clouds hf Technology Software Reykjavík 2013 Video game developer
Tulipop Tulipop ehf. Consumer goods Retail Reykjavík 2010 Lifestyle brand
Vodafone Iceland Fjarskipti hf Telecommunications Mobile Telecommunications Reykjavík 2003 Vodafone (UK) branded firm
WOW air Wow Air ehf. Consumer services Travel & leisure Reykjavík 2011 Low-cost airline, defunct 2019

See also

References

  1. ^ "Statistics Iceland". Government. The National Statistical Institute of Iceland. 14 September 2008. Retrieved 14 September 2008.
  2. ^ "OECD Tax Database". Oecd.org. Archived from the original on 25 January 2010. Retrieved 26 January 2010.
  3. ^ Ólafsson, Stefán (12 May 2004). "The Icelandic Welfare State and the Conditions of Children". borg.hi.is. Archived from the original on 18 August 2005. Retrieved 22 April 2010.
  4. ^ "2015 Human Development Report" (PDF). United Nations Development Programme. 2015. Retrieved 14 December 2015.
  5. ^ Worstall, Tim. "If Iceland Can Jail Bankers For The Crash Then Why Can't America?". forbes.com.
  6. ^ Greenstein, Tracey (20 February 2013). "Iceland's Stabilized Economy Is A Surprising Success Story". Forbes. Retrieved 11 April 2014.
  7. ^ Mingels, Guido (10 January 2014). "Out of the Abyss: Looking for Lessons in Iceland's Recovery". Der Spiegel. Retrieved 11 April 2014.
  8. ^ Bowers, Simon (6 November 2013). "Iceland rises from the ashes of banking collapse". The Guardian. Retrieved 11 April 2014.
  9. ^ "Áttundi hver Íslendingur situr í stjórn fyrirtækis" [One of every eight Icelanders is a member of a board of directors] (in Icelandic). 11 May 2011. Retrieved 11 May 2011. Viðskiptaráð tekur fram að samkvæmt fyrirtækjaskrá eru starfrækt 32.500 fyrirtæki en af þeim áætlar Creditinfo að um 14.500 séu virk.
  10. ^ HAGA.IS Company Profile & Executives - Hagar Hf. - Wall Street Journal
  11. ^ GRND.IS Company Profile & Executives - HB Grandi hf. - Wall Street Journal
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