Iceland review - 2004, Síða 74

“One difficulty with Reykjavík is that the market is small,” says Ári Skúlason,
managing director of Reykjavík Resources, an inward investment agency devot-
ed to strengthening the city’s connection to the outside world.
But can that be true? After all, Reykjavík is a thriving capital, one of Europe’s
hotspots.
To understand what Skúlason means, look at Laugardalur, a lush valley in
Reykjavík that has long been blessed with hot springs. Today, the valley houses
the nation’s national sport’s stadiums. Laugardalur is also home to Reykjavík’s
most popular pool, and two burgeoning health centres offering rehabilitation
and physical therapy. Then there’s Laugar, a luxurious fitness centre with a gym,
an indoor pool and a full spa. The valley has energy, heat, medicine and athlet-
ics; it’s quickly becoming a centre for health services.
Herein lies the dilemma. With such a small population (177,000 for the capital
area), the market for these services is well under capacity.
Leaning back in a black leather chair, Skúlason explains that to solve the prob-
lem of an undersized market, you must bring the market to Iceland.
On the one hand, this means marketing the Laugardalur valley abroad so
tourists visiting Iceland are fully aware of the health services to be found in the
area. However, an inward investment company must do more than motivate
tourists. It must look for additional ways to bring in the market.
Here’s an idea. Why not market Reykjavík as a healing city? Reykjavík Resources
SPOTLIGHT
ON THE CAPITAL
Reykjavík Resources
051 IR204-suppl-72.ps 7.6.2004 10:01 Page 72