Why Reykjavik Capital Area

Competitive Edge

Reykavik Capital Area is a young, vibrant area inhabited by an educated, highly skilled population, with an excellent infrastructure and a high quality of life.  Iceland is the only country in Western Europe that still has large resources of competitively priced renewable energy. ON Power has a definite competitive edge in a world of ever rising energy prices due to the low production cost of electricity in geothermal power plants

Iceland moves up one place to 28th position 2017-18, the result of an improving macroeconomic situation and an easing of financial concerns. Despite its significant difficulties in these areas in recent years, Iceland continues to benefit from a number of clear competitiveness strengths in moving toward a more sustainable economic situation. These include the country’s top-notch education system at all levels, its 10th and 13th ranks in the health and primary education and higher education and training pillars, respectively, coupled with a relatively innovative business sector (27th) that is highly adept at adopting new technologies for productivity enhancements (8th). business activity is further supported by an efficient labor market (14th) and well-developed infrastructure (23rd).

WEF Competitiveness report 2017-2018

Reykjavik ranked second in the performance of its health system and tied with Helsinki for first as the city with least crime. Furthermore, Reykjavik is the only city in which the high score – in this case, a perfect score – in political environment is a badge of honor because in Reykjavik, the political system was sorely challenged and proved its resilience. More to the point, it proved its democratic accountability, giving voice to its citizens at a critical time. The system, in other words, was testedand passed with flying colors. Finally, Reykjavik City ranks a strong second in its total tax rate, just 4.3% above that of first-place Copenhagen, and also comes second in ease of starting a business.