Investment opportunities in Vestmannaeyjar

The Westman Islands have for centuries played a large role in Iceland´s economic history having long been one of its fishing industry´s largest centres. Key factors in surviving on such a small, formerly remote island are hard work, initiative, dynamism and shrewdness that remain the dominant characteristics of the inhabitants. The Westman Islands are in fact a tiny economy, a microcosm of the island republic of Iceland.

The culture and society that have evolved in the islands are marked by struggle with a hard, sometimes hostile, and difficult environment. Unity and cooperation are crucial and much valued still, manifesting themselves now in the vigorous building of local public and private enterprises. Plenty of hard-working and resourceful workers ensure that nothing seems too big or difficult when it comes to organising and carrying out all kinds of events. This is a legacy of former times, the work ethic and mentality needed during the fishing season when practically the entire population worked as one to save or utilise the islands´ resources. There is no shortage of housing, whether for homes or business. Most modern services are available: banks, hospital, primary health care, schools, shops etc. In short, excellent facilities for almost any kind of business or service.

The environment is highly suitable for family life and children grow up surrounded by bird and marine life. These are ideal surroundings whether for family life or the recruitment of employees. There are many opportunities for investors in the Westman islands as their resources are many and varied: human as well as natural, birdlife, fish processing, fishing and diverse support services. The islands have much to offer even in a highly competitive market.

Where to find opportunities and gain:

• Total utilisation of seafood material
• Tourism
• Computer and techology services
• Education and vocational training

Two of the largest companys in the Icelandic fishing industry are situated in the islands. Rich fishing grounds are not far off and fresh raw material therefore easily available.

Unique, magnificent surroundings are one source of endless opportunities in attracting tourists eager to experience such an increasingly rare phenomenon. The islands´ history, cultural life and lively interest and participation in sports of all kinds create possibilities for cultural and health related tourism.

The main information highway between North-America and Europe lies through the Westman Islands, the Cantat 3 sea cable. This favours diverse computer and information service. The possibilites for education in the Westman Islands are similar to those elsewhere in the country: pre-schools, primary schools, a comprehensive/vocational school, and distance learning at a university level. Teaching and research at university level is possible via the internet and audio/video links. The Westman Islands can make available most of what is needed to gain a competitive head start. Investment in Westman Islands resources is a wise investment. The Westman Islands´ Innovation Institute “Nýsköpunarstofa” is able and willing to assist investors in finding suitable business and investment opportunities. Do not let a unique opportunity pass you by, allow us to assist you – contact us at: nyskopun@vestmannaeyjar.is