Iceland is part of the European inner market and enjoys freedom of movement for labour and services. Iceland has high quality of life, it is a modern, growing economy, politically stable and internationally competitive. The nation is young, educated, multilingual and enjoys high living standards with a thriving cultural scene. The labour market is highly flexible with people willing to adopt new technologies.
From New York, the flying distance to Iceland and San Francisco is about the same. There are daily flights to Iceland from major gateways in Europe (2.5–3.5 hrs) and North America (5–7 hrs).
A number of carriers offer air cargo services. Shipping is easy with regular liner sailings to and from major ports in Europe and the USA. Shipping takes 3-4 days to Europe and 7-8 days to North America. Nationals of the other European Economic Area states do not require entry visas. Furthermore, agreements with about 100 states, including all OECD countries, permit all residents with a valid passport to enter without visas. Treaties on double taxation relief, effective domestic transport and one of the most advanced health care systems in the world adds to the level of comfort and security.
According to the Global Competiveness Report 2014-2015, published by World Economic Forum, Iceland‘s main strengths include Technological Readiness and Higher Education and Training. A 2012 Reykjavik University Report; Mapping of Human Resources for Data Centers. confirmed that the data center industry can find the skills and education necessary in Iceland, both in engineering and the IT industry. There is significant engineering experience in Iceland regarding large and complex projects, e.g. due to the energy infrastructure. The number of graduates in ICT and engineering is growing and the Universities in Iceland are open for direct cooperation with the data center industry to meet future demand for skills.
The strength of the Icelandic ICT sector lies in: first class telecommunication infrastructure, entrepreneurial labour, small-scale teams, high quality education and exceptional adaptability. Icelandic ICT companies have specialist know-how and long practical experience in creating solutions for food processing and fisheries, financial institutions and multimedia, Internet applications, electronic commerce, real-time telecommunications systems for aviation and transport, medical software, and general office and database systems.
Iceland keeps the position as the world’s most peaceful country according to the Global Peace Index for 2014, published by the Institute for Economics and Peace. The index includes the level of safety and security in society. Iceland is also blessed by the absence of many common natural hazards such as thunderstorms, tornadoes, wildfires, heat waves and tsunamis. Seismic activity and volcanic eruptions are closely monitored and but the hazard is limited as most most activities and key infrastructure is far away from the geologically most active areas. This is confirmed in a 2012 report by VERKIS, Engineering and Consulting Firm, detailing the natural hazard assessment for selected data center locations in Iceland.