According to Central Bank of Iceland, the financial sector shrunk to 6-7% of GDP, down from 9% before 2008. (Page 15)
cb.is
Their tourist number quadrupled in ten years to 1.3 million. That "services" includes all the restaurants and hotels, which aren't included in "tourism". Which accounts for 5% of GDP in direct contributions alone. The concentration and prices of those restaurants is absurd. Go on a vacation in Iceland, they will rape your wallet. Fucking fifty bucks for a burger and fries.
I would also assume it's because they have cheap energy (geothermal), because energy costs a shit ton of money.
Lmao
This but unironically.
This is still them benefitting from imperialism. I doubt workers from the third world, or, hell, the first world are taking trips to Iceland. Porkies, fat on imperial loot, come to Iceland to further engorge themselves.
The service sector doesn't actually produce wealth, the wealth has to be coming from somewhere else, and it sure isn't from their frozen rock.
Flipping burgers and shuffling paper around doesn't produce wealth. Sorry. In a purely material sense, it's doing nothing. Hence your wealth must be coming from somewhere else if your own producive capacities are either insufficient or aren't being utilized because you have everyone flipping burgers and shuffling paper.
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