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ASSET FINANCIALS
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Why Iceland?

Around one year ago I had to choose my destination for my semester abroad. This was an easy decision for me; I wanted to study at Reykjavik University. I cannot tell how many times exactly I am asked why of all destinations I would choose for Iceland. People could not understand why I wanted to go to such a cold and maybe even grizzled country. To all those people I would like to say that when I did my first road trip on the countryside I almost started to believe in the myths and elves Iceland is known for. It is such an amazing, breathtaking and diverse nature with all the waterfalls, volcanoes, black beaches, icebergs, hot springs, geysers, northern lights, the famous horses and all beautiful landscapes.

Next to exploring the country I am enrolled in five interesting courses. Reykjavik University has its main focus on entrepreneurship and cooperation with the active business community. Those are my fields of interest, so this university suits me well. The teachers at Reykjavik University are all business people; they use their experiences in their lecture, which makes the study very practical and applicable. It is highly motivating to get teaching from such passionate professionals. They do not focus on theory, but they want to challenge you and make you find out things yourself. In my opinion this is the best way to learn and develop skills you need in further life.

So Iceland is a unique country with great nature but it also has an interesting economic history. For me, as a student in Business Economics, the development of Iceland’s financial sector is very fascinating. The financial sector has grown to ten times Icelandic GDP, just when the worldwide financial crisis started in 2008. Because of the sheer size of the financial sector in Iceland, this financial crisis could have bankrupted the country. The Icelandic economy has shown they are not like most Western countries.

Current developments in Iceland are mainly in the growing tourism. The tourism industry has had an incredibly positive effect on Iceland and is an incredibly positive part of their society and economy. The travel industry is bringing in a lot of money and creates jobs across the country. It is clear why Iceland is becoming more popular; it has so much beautiful things to offer. Besides the fact that the countryside of Iceland is so peaceful, the capital city Reykjavik is too. Reykjavik itself is the biggest city in the country with around 200.000 citizens. This may not sound as that are many but when you think about the total inhabitants of Iceland being only around 330.000, it is. Reykjavik is not a busy or noisy city, it is lively but it has a very relaxed atmosphere. There are the cute colored houses, the alternative bars and there are no large retail stores. Only boutiques and small shops are located in the heart of the city. This in combination with the eccentric and original bars, coffee shops and restaurants makes it a one-off city.

In my opinion, Iceland including Reykjavik should stay the way they are now. I hope they will not change because of the growing tourism. The country should maintain her special value, which is what makes Iceland so unique. I hope they will put the beauty of their country ahead of earning as much as possible. Of course tourism is good for the economy but Iceland itself should not suffer from it, because in my opinion it is one of the most outstanding places in the world.

I am curious about how Iceland will look in some years from now, but at this moment I am enjoying the way it still is right now. Iceland is inspiring and makes you believe in magic sometimes because of all the uncommon phenomena. I am very happy with my choice to study a semester at Reykjavik University and discover Iceland as an exchange student. So, why I chose for Iceland? I cannot name one reason why not 😉

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