The Similarities Between Iceland And The US

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Iceland, known as the land of fire and ice, provides a competitive Government incentive making is one of the most favorable destinations for local business and those that would like to expand business internationally. With its economic advancements, social stability, and technological innovations, Iceland is at the top of the list in the country that business owns should invest in. Why should one invest? Iceland has high quality of life; it is a modern, growing economy, politically stable and internationally competitive (http://www.invest.is/why-iceland). With a flexible labor market, new investors have the ability to work with locals and their willingness to adapt to changes and learn the new ways of technology. As of 2015, Iceland’s populations …show more content…

However based on culture, the two countries will differ. One of the known perceptions of the local Icelanders is that they lack the desire to communicate and would rather be more withdrawn. There is some truth to that. With the low numbers in foreigners, Iceland has a lower percentage of racially mixed populations and more than half of the population is made up of Icelanders. In the United States, diversity is seen all over. People relocate to North American for the opportunity to experience the “American Dream”. Business owners, investors, employees and consumers are located in the U.S. and at the same time will conduct business internationally. One of the differences that is seen in Iceland versus the United States in regards to cultural differences is their general education policy. With the four levels of education, ranging from pre-school to higher secondary stage with compulsory, at the age of 16, students that have completed the compulsory education have the opportunity to leave school. Like some school in the U.S., locals take on the responsibility of covering the cost for lower education. Unlike the United States, the states will fund higher education because Icelandic education system is founded on the principle of equality; everyone should have equal opportunities to get an education (Passport …show more content…

Natives to Iceland’s farming society are often found to be more open, but hard working, spending over 47 hours a week for men and 37 for women. Icelanders spend a lot of time at work, working on average of 1697 hours out of the year to maintain the high cost of living. The work-life balance in Iceland can be a challenge. On a positive note, business is enjoyable. Personal relationships are formed easily, and business partners are invited to business dinners, which are seen as a form of entertainment (Passport to Trade, 2014). One of Iceland’s Governments tasks is to encourage cultural exchange between Iceland and the United Stated. Working closely with cultural institutions, Iceland has had the opportunity to promote cultural events in the U.S.(Invest in Iceland,

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