Iceland’s Business Marketing Ecosystem

By Madison Taylor
December 15, 2021
image of a waterfall and distant people walking towards it, night sky light by green streaks

The island nation of Iceland is one of the most beautiful places in the world, and that beauty is a big business opportunity for this Nordic treasure. In fact, Iceland’s dramatic and breathtaking landscape, complete with geysers, hot springs, and volcanoes, has become the core of its business marketing ecosystem.

And this is only the beginning of all that Iceland has to offer. Welcome to Iceland’s business ecosystem.

Defined by Creativity and Innovation

Not only are businesses from Iceland proud of their home and what it has to offer, but they have been exceptionally innovative in marketing both. From companies like Marel to the Icelandair Group, Iceland businesses have found a perfect marriage in marketing both their country and services to the globe. Take Icelandair for example: The airline doesn’t typically directly market its flights, or why you should fly Icelandair. Instead, the airline markets the beauty of Iceland and what it means to visit the country. Marel, as a leader in the food processing and services industry, is another example of Iceland-based businesses finding success through innovation and sustainability.

Business Iceland, a public-private partnership established to improve the competitiveness of Icelandic companies in foreign markets, even works with the Ministry of Industries and Innovation in joint efforts to promote Iceland. Inspired by Iceland, the official destination brand for Iceland, is one example of these collaborative efforts and the success of Iceland’s business marketing ecosystem.

Companies doing business in Iceland are recognized as being environmentally responsible. Those businesses are also part of Iceland’s unique business network that helps to define its business ecosystem. These are companies that have invested in finding innovative solutions for doing business. Eyrir Invest, for example, is a leading investment agency aimed at helping companies grow and succeed through investments in opportunities throughout Iceland. Additionally, these companies are often small businesses and startups that drive creativity and find the support they need to succeed in Iceland through this unique ecosystem.

A Unique Business Marketing Ecosystem

While it isn’t uncommon for tourist’s hotspot locations and large cities to market their events, activities, and even landmarks, few market their state, city, or land the way Iceland does. Those efforts aren’t only unique, they are also backed, promoted, and led by the Icelandic government.

The Business Iceland Act has created a unique business marketing ecosystem that works by coordinating and joining the businesses and Iceland itself. This goal of creating a mutually beneficial ecosystem has resulted in sustainability and affordability that has become a trademark for Iceland businesses.

These are just a few lessons businesses across the globe can learn from Iceland. From the business ecosystem to the support of the government, Iceland is the land of opportunity for many companies and entrepreneurs.

The Iceland Investment

In addition to offering Iceland businesses the benefits of being supported by a business ecosystem built on the Business Iceland Act, the system has also created a range of opportunities for small and startup businesses. This environment of combining Iceland’s core beliefs of sustainability and innovative green energy solutions with its unique business marketing ecosystem has proven to be a win-win for everyone.

For this robust and economically viable Nordic island nation, these measures and those beliefs have led to business growth and success. That success is experienced not only in the health and strength of Iceland but also by those who visit the country or work with Iceland companies. Iceland Trade Invest is another agency that offers support and opportunities for small businesses while promoting everything Iceland.

Small businesses and startup companies are also encouraged to consider Iceland because of the many benefits of its business marketing ecosystem. These benefits impact industries across Iceland — from food and clothing to energy and green solutions.

Staying True and Staying the Course

The efforts of Iceland to hold to its core beliefs and values can’t be overstated, and it is the commitment to those values that has also been the impetus for its success. The primary business sectors in Iceland include the tourism and energy solutions industries. While the vast resources of Iceland could have made it easy to adopt less environmentally friendly solutions, Iceland decided to invest in innovation and creative solutions.

Iceland is also one of the most beautiful locations on the planet. That makes it a highly popular tourist destination. Here, as before, Iceland opted to not sell out for over-commercialization. Instead, Iceland decided to use Iceland itself as its marketing medium. The result has been a land left largely untouched by commercialization and development, one that remains as beautiful as the brochures that draw its visitors.

Imagine being able to drink water straight from the ground, without needing to have it treated or filtered. Imagine buying items from a business that you can feel good about because it helps promote and support green efforts and sustainability. Now, imagine working with and doing business with companies like this in Iceland. Yes, many places promote their sights and hotspots, but Iceland promotes Iceland, and those efforts are led by the government.

Sustainability and Affordability

Businesses in Iceland have devout respect and appreciation for the beauty and resources offered by Iceland. That respect and determination to maintain sustainability are what has kept Iceland as beautiful today as it was 10 years, two decades, or 100 years ago. That sustainability has also revealed other benefits for businesses, customers, and the people of Iceland.

One of the most prevalent benefits of any sustainability act is the ideal of it resulting in affordability too. For Iceland, that ideal is also a reality. The efforts of Iceland to act responsibly, invest in sustainability, and embrace a business ecosystem that supports these things, have, in fact, led to greater affordability. For Iceland businesses, that looks like more affordable operation costs, including expenses in areas like materials and marketing.

Consumers and the citizens of Iceland also experience the benefits of that affordability, making Iceland a great place for not only new businesses but also for people to call home. Although for many Icelanders, it is both.