Reykjavik, Iceland, is among the top cities with a free business environment. According to our city rankings, this is a good place to live with high ratings in safety, healthcare and environmental quality.
Reykjavik is one of the top ten city matches for 0.5% of Teleport users.
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Housing| Large apartment | $2600.00 |
|---|---|
| Medium apartment | $2100.00 |
| Rent index [score] | 0.29 |
| Small apartment | $1600.00 |
Cost of Living| 5km taxi ride | $19.00 |
|---|---|
| A Cappuccino | $5.20 |
| A beer | $3.90 |
| A kilogram of Apples | $3.50 |
| Bread | $1.80 |
| Inflation [score] | 0.10 |
| Lunch | $26.00 |
| Monthly fitness club membership | $87.00 |
| Monthly public transport | $120.00 |
| Movie ticket | $16.00 |
| Price of a meal at a restaurant | $127.52 |
Startups| Average monthly increase in number of startups | 1 |
|---|---|
| Average monthly increase in number of startups [score] | 0.20 |
| Coworking spaces [score] | 0.30 |
| Coworking spaces on WorkFrom.co | 12 |
| Meetups [score] | 0.11 |
| Meetups groups | 9 |
| Meetups members | 990 |
| Number of investors | 4 |
| Number of startup events in the last 12 months | 22 |
| Startup climate scene [score] | 0.28 |
| Startup events | 3 |
| Startup events [score] | 0.19 |
| Startups [score] | 0.43 |
| Total number of startups | 93 |
Venture Capital| Funding accelerator names | StartupReykjavik |
|---|---|
| Number of funding accelerators | 1 |
| Venture capital [score] | 0.29 |
Travel Connectivity| Airport hub | 36 |
|---|---|
| Airport hub [score] | 0.23 |
Commute| Traffic handling [score] | 0.87 |
|---|
Business Freedom| Business freedom | 90.10 |
|---|---|
| Business freedom [score] | 0.97 |
| Freedom from corruption | 79.00 |
| Freedom from corruption [score] | 0.86 |
| Lack of labor restrictions | 61.60 |
| Lack of labor restrictions [score] | 0.48 |
| Time to open a business | 3.50 |
| Time to open a business [score] | 0.98 |
Safety| Crime rate [score] | 0.90 |
|---|---|
| Gun-related deaths per 100,000 residents per year | 0 |
| Guns per 100 residents | 30 |
| Lack of gun related deaths [score] | 1.00 |
| Lack of guns [score] | 0.84 |
| Lack of guns and gun-related deaths [score] | 0.92 |
Healthcare| Healthcare expenditure [score] | 0.83 |
|---|---|
| Healthcare quality [score] | 0.79 |
| Life expectancy (years) | 82.65 |
| Life expectancy [score] | 0.96 |
Education| Best university in ranking | University of Iceland |
|---|---|
| Best university ranking | 225 |
| Country mean scores in PISA math test | 496.44 |
| Country mean scores in PISA reading test | 482.52 |
| Country mean scores in PISA science test | 478.15 |
| PISA math ranking (high school) | 23 |
| PISA ranking | 28 |
| PISA ranking (high school) [score] | 0.68 |
| PISA reading (high school) | 24 |
| PISA science (high school) | 28 |
| Percent of happy students | 0.87 |
| Percent of low performers in PISA math test | 0.21 |
| Percent of low performers in PISA reading test | 0.21 |
| Percent of low performers in PISA science test | 0.24 |
| Percent of top performers in PISA math test | 0.11 |
| Percent of top performers in PISA reading test | 0.06 |
| Percent of top performers in PISA science test | 0.05 |
| University quality [score] | 0.13 |
Environmental Quality| Air quality [score] | 0.98 |
|---|---|
| Cleanliness [score] | 0.74 |
| Drinking water quality [score] | 1.00 |
| Urban greenery [score] | 0.73 |
Economy| Currency exchange rate per US dollar for urban area | 104.66 |
|---|---|
| Currency for urban area | ISK |
| GDP growth rate | 0.02 |
| GDP growth rate [score] | 0.36 |
| GDP per capita | $43637.27 |
| GDP per capita [score] | 0.70 |
Taxation| Effective company profit tax rate on payouts as dividends [score] | 0.79 |
|---|---|
| Income tax level [score] | 0.10 |
| Profit tax (% of profit) | 0.30 |
| Time overhead to file company taxes | 140 |
| VAT (Sales Tax) | 0.24 |
Internet Access| Download speed (Mbps) | 56.85 |
|---|---|
| Internet access (download) [score] | 0.67 |
| Internet access (upload) [score] | 0.68 |
| Upload speed (Mbps) | 19.69 |
Leisure & Culture| Art galleries | 83 |
|---|---|
| Art galleries [score] | 0.51 |
| Cinemas | 35 |
| Cinemas [score] | 0.41 |
| Comedy clubs | 36 |
| Comedy clubs [score] | 0.64 |
| Concert venues | 80 |
| Concerts [score] | 0.63 |
| Historical sites | 25 |
| Historical sites [score] | 0.53 |
| Museums | 39 |
| Museums [score] | 0.48 |
| Performing art venues | 65 |
| Performing arts [score] | 0.46 |
| Sport venues | 55 |
| Sports [score] | 0.53 |
| Zoos | 9 |
| Zoos [score] | 0.58 |
Tolerance| LGBT Equality Index | 92.79 |
|---|---|
| LGBT Equality Index [score] | 0.95 |
| LGBT adoption rights | ✔ Legal |
| LGBT age of consent | ✔ Equal |
| LGBT blood donation regulations | ✖ Banned (indefinite deferral) |
| LGBT conversion therapy regulations | ✖ Not banned |
| LGBT discrimination legality | ✔ Illegal |
| LGBT employment discrimination legality | ✔ Sexual orientation and gender identity |
| LGBT gender changing rights | ✔ Legal, but requires surgery |
| LGBT homosexuality rights | ✔ Legal |
| LGBT housing discrimination legality | ✔ Sexual orientation and gender identity |
| LGBT marriage rights | ✔ Legal |
| Tolerance towards minorities [score] | 0.96 |
Outdoors| Elevation (hills or mountains) [score] | 0.22 |
|---|---|
| Median peak in meters | 477.00 |
| Presence of hills in city | 1.00 |
| Presence of mountains in city | 1.00 |
| Seaside access | 1.00 |
| Urban area elevation (meters) | 61.00 |
| Water access [score] | 0.74 |
Costs of living in Reykjavík are in the most expensive 10 percent of all 248 Teleport cities. Average living expenses are significantly higher compared to other cities, especially in the housing market. Moving to Reykjavík will very likely increase your daily costs of living. Sign up for free to get access to our cost of living index and use our international cost of living calculator to do cost comparison by city.
 Monthly fitness club membership | $87 |
|---|---|
 Movie ticket | $16 |
 Broadband internet connection | $58 |
 Monthly public transport | $120 |
 Lunch | $26 |
Software Engineer salaries in Reykjavik are very high. For this job type, Reykjavik ranks 22nd for salaries among 265 cities. Get access to our salary comparison calculator by signing up. Compare salaries city by city with our free salary wizard and convert your own salary to a local salary in Reykjavik.
The overall crime rate puts Reykjavik in position 26 of 266 Teleport Cities in a ranking for the safest cities.
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13.6Reykjavík ( RAYK-yə-vik, -veek; Icelandic: [ˈreiːcaˌviːk] ( listen)) is the capital and largest city of Iceland. It is located in southwestern Iceland, on the southern shore of Faxa Bay. Its latitude is 64°08' N, making it the world's northernmost capital of a sovereign state. With a population of around 123,300 (and over 216,940 in the Capital Region), it is the heart of Iceland's cultural, economic and governmental activity, and is a popular tourist destination.
Reykjavík is believed to be the location of the first permanent settlement in Iceland, which, according to Ingólfur Arnarson, was established in AD 874. Until the 19th century, there was no urban development in the city location. The city was founded in 1786 as an official trading town and grew steadily over the following decades, as it transformed into a regional and later national centre of commerce, population, and governmental activities. It is among the cleanest, greenest, and safest cities in the world.
Read moreEvery city comes with a country. How is this one doing in terms of giving back to the global community? Our friends at The Good Country Index measure what each country on earth contributes to the common good of humanity, and what it takes away, relative to its size.
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