The PR Opportunity In Iceland
Until the present time, the Icelandic PR style has been more of a "shoot-from-the-hip" approach, but as the exposure of Icelandic companies to international markets has increased so dramatically over the past years the demand for more cultivated PR has risen.
The business of public relations is a relatively new business in Iceland. As such,
it can be claimed that it is a rather immature business compared to public
relations as a business sector in other developed countries. Therefore, it is our
view at GCI Iceland that the Icelandic PR market possesses vast possibilities for
PR firms that apply the methodological approach. Until the present time, the
Icelandic PR style has been more of a “shoot-from-the-hip” approach, but as the
exposure of Icelandic companies to international markets has increased so
dramatically over the past years the demand for more cultivated PR has risen.
In a way the economic situation in Iceland today is not so un-similar to that of
Europe at the end of World War II. When Iceland became part of the EEA in
January 1st, 1994, several economic restrictions and trade barriers were lifted,
and the Icelandic economy started developing in a more “normal” fashion. When
World War II ended, Iceland was one of the poorest and least developed
economies in Europe. Since then, a lot has happened and today Iceland is one of
the richest economies worldwide in per capita terms. We are in spite of this a
very young economy and the symptoms of adolescence are evident; in recent
years the economy has been booming so rapidly that all measures to contain the
growth have made close to no impact. Foreign analysts have warned about this
development, but it is easier said than done to turn about the growth process.
Granted, the economy has suffered from growing pains but the overall trend is
still upwards, and Icelandic companies are starting to make an impact on
international markets. This is especially true for the financial, retail and high-tech
markets.
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