From Iceland — Foreigners Give More Than They Take

Foreigners Give More Than They Take

Published June 9, 2011

A new study based on data from Statistics Iceland shows that foreigners pay more into the country than they cost its citizens.
The study, conducted by the Icelandic Regional Development Institute and led by Sigríður Elín Þórðardóttir, points out among other things that between 2001 and 2010, some 7,000 Icelandic citizens left the country. At the same time, 17,000 people immigrated into the country. Sigríður told RÚV that this shows that foreigners help maintain the growth of the country.
Furthermore, foreign nationals living in Iceland paid about 10 billion ISK in taxes and other fees in the year 2009 alone. “It can be said then that foreigners support the Icelandic economy and pay more into the state and municipalities than they cost, because the majority of those who move here are of working age,” she said.
Adding to this is the fact that data shows a direct correlation between the number of people moving into Iceland and economic growth – the more people move here, the more the economy grows.
The entire report can be read here (Icelandic).

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