Iceland established itself as an economic miracle in the first decade of the new millennium. With interest rates above 10%, depositing your money in the small volcanic nation seemed like a surefire route to wealth and happiness. Some thought it was too good to be true – and it was. In 2008, Iceland crashed spectacularly and became one of the biggest victims of the global financial crisis.
Instead of accepting the IMF’s prescription of drastic cuts, Icelanders went to the streets and deposed their government in the ‘pots and pans revolution.’ Bankers were jailed and people came together to find their own way out of the crisis. Iceland’s creative community benefitted enormously. It became affordable to pay rent again, find collaborators and get projects off the ground.
Huck’s Insider’s Guide to Reykjavík profiles the leading figures behind Iceland’s creative resurgence, including artist Sara Riel, cartoonist, playwright and stand-up Hugleikur Dagsson, Eygló Margrét Lárusdóttir, owner of progressive fashion boutique Kiosk, and Hilmar Grétarsson, publisher of Iceland Grapevine.
Tourists have flocked to enjoy this cultural renaissance and helped to support homegrown artists and businesses, but many locals now feel they’ve become victims of their own success. There are fears the tourist boom and explosion of hotel building is destroying the character of Reykjavík’s artsy 101 district.
Icelanders may worry about being inside another bubble, but while the rest of Europe struggling to lift itself out of recession, Reykjavík is buzzing with culture, creativity and life.
Read the full story on Reykjavík’s creative community in Huck 49 – The Survival Issue.
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