Economy
Borgartún is the financial centre of Reykjavík, hosting a large number of companies and three investment banks.
Reykjavík has been at the centre of Iceland's economic growth and subsequent economic contraction over the last decade, a period referred to in foreign media as the "Nordic Tiger" years, or "Iceland's Boom Years". The economic boom led to a sharp increase in construction, with large redevelopment projects such as Harpa concert hall and conference centre and others.
In 2009, Reykjavík was listed as the richest city in the world in 2007 by The Economist Group.
Read more about this topic: Reykjavík
Famous quotes containing the word economy:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)