Iceland Business Etiquette

Business etiquette in Iceland is similar to that used throughout Western Europe.

Iceland's $19.5 billion economy relies heavily on foreign trade, with exports of goods and services accounting for more than one third of its gross domestic product. Because of this, many international business people frequent the Icelandic capital, Reykjavik. Understanding simple etiquette can make a business trip more productive and enjoyable.

Meeting and Greeting

Shake hands firmly, making good eye contact, with each person at the start and end of the meeting. Exchange business cards. Wear formal business attire.

Communication

Icelanders generally are direct in their speech. Expect this and do not take it offensively if none is intended. Although Danish is the most common second language for Icelanders, many also speak English.

Naming Conventions

Understand Icelandic names, because this is important for both business and social occasions. Most people have a patronymic, formed from their father's first name with the ending "sson" or "sdottir," depending on gender. For example, an Icelandic man and woman might be named Einar Jonsson (Jon's son) or Eyrun Jonsdottir (Jon's daughter), respectively. When addressing Icelanders formally, use either their first name or their whole name, but never use their last preceded only by a social title such as Fru (Mrs.) or Herra (Mr.). For example, address Einar Jonsson properly as "Einar" or "Herra Einar Jonsson" but not "Herra Jonsson." Icelanders generally refer to one another by their first names, and they will not feel that you are being too familiar if you follow that practice.

Scheduling

Icelanders use the 24-hour clock in order to avoid misunderstandings. Normal business hours are Monday to Friday, 0900 to 1700, although many firms close an hour earlier in the summer. Make appointments for May through September well in advance because many Icelandic business people travel abroad during these months. Icelandic businesses often close for a three-week break during July, the holiday month. Icelanders value punctuality. Notify the host if you must be late.

The Icelandic Personality

Because Iceland is a small country, access to key people is often easy and informal. Generally, Icelanders can be quite reserved during business hours, although they tend to loosen up on Friday and Saturday nights. Often they invite visitors to their homes, and the thoughtful guest will bring a gift for the host. Although Icelanders have operated domestic wineries for more than 1,000 years, they always appreciate a bottle of foreign wine.

References

• Kwintissential: Doing Business in Iceland; Business Etiquette
• World Travel Guide: Iceland Economy and Business