Iceland’s economy has experienced a period of rapid growth, according to a report from Icelandic business outlet Viðskiptablaðið. While this expansion has benefited the country as a whole, its effects on individuals in Iceland appear more limited.
Viðskiptablaðið reported that the rapid economic growth has generated new opportunities for the business community and for investors. These opportunities have not, however, translated into significant gains for ordinary Icelanders, at least as measured by gross domestic product (GDP) per capita, which has remained almost unchanged.
GDP per capita stagnant despite economic growth
According to Viðskiptablaðið, while the overall economy has grown, GDP per capita in Iceland has been nearly stagnant. This suggests that the fruits of the economic expansion are not being evenly distributed or are being offset by other factors such as population changes or inflation. The report does not specify which underlying factors are contributing to the stagnation in per capita income.
Sources
- Viðskiptablaðið (first reported) in Icelandic
