Quick Answer: What Is The Average Salary In Iceland?

What is the average annual income in Iceland?

In Iceland, the average household net-adjusted disposable income per capita is slightly lower than the OECD average of USD 33 604 a year.

In terms of employment, 86% of people aged 15 to 64 in Iceland have a paid job, above the OECD employment average of 68%, and the highest rate in the OECD..

Why is Iceland so expensive to live?

Iceland is One of the Most Expensive Countries in the World to Live in. … The equipment needed to run a farm has to be imported, making Icelandic farms costly. Other factors, such as a growing tourism industry that circulates around the city centre, has made rent prices for locals out of proportion.

How much does a house in Iceland cost?

In 2019, the prices of a single-flat home in Iceland increased by 2.37%, while a multi-flat came in at just under 3.47%. Currently, the average residential property in the capital is between 40 million ISK (US$ 382,500) to 50 million ISK (US$ 478,130).

What are the main jobs in Iceland?

The country’s major industries include:aluminium smelting.fish processing.geothermal power.hydropower.medical/pharmaceutical products.tourism.

What is a good salary in Iceland?

Currently, average wages in the country are of roughly 410,000 ISK net per month. Notice that the average salary in Iceland figures are net, while the minimum wage mentioned above is gross. The average salary of 410,000 ISK per month (approximately 3300 USD) puts Iceland’s figures among the highest salaries in Europe.

Is Iceland rich or poor?

The economy of Iceland is small and subject to high volatility. In 2011, gross domestic product was US$12bn, but by 2018 it had increased to a nominal GDP of US$27bn. With a population of 350,000, this is $55,000 per capita, based on purchasing power parity (PPP) estimates.

Is there poverty in Iceland?

Iceland is a small country in Northern Europe home to about 332,000 people. … The total poverty rate ratio in Iceland is 0.065. Many of the other Nordic countries, such as Norway and Finland, also post very impressive poverty rates. Iceland’s unemployment rate, another key economic indicator, is also very low.

Is healthcare in Iceland free?

Healthcare in Iceland is not completely free. Healthcare costs are covered by the state (through the Icelandic Health Insurance fund) and through patient contributions. Patient contributions are capped each month. Once you’ve spent a certain amount, your state healthcare is free for the rest of the month.

How much is the rent in Iceland?

The average rent for a one-bedroom apartment in Reykjavík is ISK 130,000 (USD 990, EUR 920) per month.

Are there homeless in Iceland?

Unfortunately, Statistics Iceland has not released statistics on homelessness across Iceland since 2011, when they conducted a census which found there were 761 homeless inhabitants of the country. … According to data from the report, there are over 360 homeless in Reykjavík, Iceland’s capital and largest city.

Why are dogs illegal in Iceland?

In 1924, the city of Reykjavik banned keeping dogs as pets. The city’s residents aren’t all cat people—rather, the measure was meant to prevent echinococcosis, a type of tapeworm that can be passed from dogs to humans.

Is alcohol illegal in Iceland?

A century ago, Iceland banned all alcoholic drinks. Within a decade, red wine had been legalised, followed by spirits in the 1930s. But full-strength beer remained off-limits until 1 March 1989.

What is the minimum wage in Iceland?

335,000 per monthMinimum wages for full-time work will be: 01 April 2019 ISK 317,000 per month. 01 April 2020 ISK 335,000 per month. 01 January 2021 ISK 351,000 per month.

Are salaries high in Iceland?

The salary range for people working in Iceland is typically from 351,338.00 ISK (minimum salary) to 1,091,950.00 ISK (highest average, actual maximum salary is higher). This is the total monthly salary including bonuses. Salaries vary drastically among different job categories.

What is the highest paying job in Iceland?

Highest Paying Jobs in Energy1Operations Manager(1,430,000 ISK)2Geophysicist(1,140,000 ISK)3Engineering Geologist(1,120,000 ISK)4Exploration Manager(1,090,000 ISK)5Energy Dispatch Director(1,080,000 ISK)6Geothermal Production Manager(1,050,000 ISK)7Mining Project Manager(1,040,000 ISK)More items…