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Iceland has changed a number of provisions in its work visa program for citizens outside the Schengen area, so that Americans and other foreigners can enter and stay in the country for six months, provided they have earnings of nearly $ 90,000 a year, Bloomberg reports.
“I think the basic idea is to attract well-paid professionals from Silicon Valley or San Francisco to come and spend their money here“says Asta Gudrun Helgadottir, a former member of the Icelandic parliament.
Although holders of a work visa are technically not tourists, the hope of the authorities is similar they rent empty houses on the Airbnbs platform, fill restaurant tables, and take weekend trips to explore the island. Especially when it comes to rich people.
Iceland is not the first country to want to attract those who work remotely with the visa waiver. Bermuda, Barbados, the Cayman Islands and Estonia have also tried this strategy attracting foreign revenue at a time when tourism is hit by the pandemic.
Iceland’s offer is unique in that it is strictly for the rich
For example, Bermuda only charges a $ 263 fee for those who want to change their quarantined life for a vacation island adventure. Instead, Iceland requires proof that the applicant has a salary of at least one million crowns ($ 7,360) per month or approximately $ 88,000 per year, and applicants must also meet the additional health insurance requirements.
The Icelandic Ministry of Justice, which manages the visas, has released limited information on the new program. However, locals believe the goal is to stimulate investment without creating congestion and, above all, without putting pressure on the national health system, which can be easily burdened given that the country has a population of around 357,000.
There is also hope that proof of income will prevent temporary residents from competing with Icelanders for local jobs.
In 2018, after a decade of rapid tourism growth, Iceland recorded 2.3 million visitors and international tourists surpassed the local population by seven to one. No one expected that for most of 2020 the only flights departing from Iceland would carry fish for export.
The transition from one extreme to the other has led to decrease in the number of visitors by 79%, even after the resumption of travel within the Schengen area during the summer, writes Agerpres.
But, like Venice, Thailand and Amsterdam, three traditionally overcrowded tourist destinations, there have been benefits in this time of crisis. Iceland will try to keep them.
Publisher: Georgiana Marina
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