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Welcome
to our Hotel Network!
Your non stop hotel reservation guide for Hotels in
Iceland. We
searched multiple suppliers for the best Room Rate available. Often
GDS (Global Distribution System) suppliers have different room rates, due
to the fact that they individually buy blocks of rooms from hotel chains.
Check
first our Last Minute &
Hot Deals where we put a Monthly update of all known LAST MINUTES! of
all Hotel Reservation Suppliers. This to get & let you informed about
all known Discounted deals in Europe!
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Settled by Norwegian and Celtic (Scottish and Irish) immigrants during the
late 9th and 10th centuries A.D., Iceland boasts the world's oldest
functioning legislative assembly, the Althing, established in 930.
Independent for over 300 years, Iceland was subsequently ruled by Norway and
Denmark. Fallout from the Askja volcano of 1875 devastated the Icelandic
economy and caused widespread famine. Over the next quarter century, 20% of
the island's population emigrated, mostly to Canada and the US. Limited home
rule from Denmark was granted in 1874 and complete independence attained in
1944. Literacy, longevity, income, and social cohesion are first-rate by
world standards.
Iceland's Scandinavian-type economy is basically capitalistic, yet with
an extensive welfare system, low unemployment, and remarkably even
distribution of income. In the absence of other natural resources (except
for abundant hydrothermal and geothermal power), the economy depends heavily
on the fishing industry, providing 70% of export earnings and employing 12%
of the work force. The economy remains sensitive to declining fish stocks as
well as to drops in world prices for its main exports: fish and fish
products, aluminum, and ferrosilicon. The center-right government plans to
continue its policies of reducing the budget and current account deficits,
limiting foreign borrowing, containing inflation, revising agricultural and
fishing policies, diversifying the economy, and privatizing state-owned
industries. The government remains opposed to EU membership, primarily
because of Icelanders' concern about losing control over their fishing
resources. Iceland's economy has been diversifying into manufacturing and
service industries in the last decade, and new developments in software
production, biotechnology, and financial services are taking place. The
tourism sector is also expanding, with the recent trends in ecotourism and
whale watching. Growth has been remarkably steady over the past five years
at 4%-5%.
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