GEOGRAPHY TÓRSHAVN: COSY COMPETITIVE CAPITAL With an unprecedented pace of development taking place in services, not least the hospitality business, the Faroe Islands capital Tórshavn is on track to become blocks and non-detached houses, many motional campaigns from the tourism of which have been completed in the last industry but spreading organically in a highly popular destination for international conferences and events. decade or so. Also, across the islands, tandem with increased focus on the idea quite a few commercial buildings and of experiencing unspoiled natural envi- City of Tórshavn N UNMISTAKABLE trend has been even so abroad; and this is something I find industrial structures have been added ronments in off-locations, coupled with Tórshavnar Býráð widely noted of late: people who travel, both inspiring and motivating.” while, especially in the capital, cultural the need to address security concerns in Vaglið, PO Box 32 Afor business or pleasure, want to experience Much of the Faroese capital has under- and sports venues have been, or are being, many places around the world. FO-110 Tórshavn something fresh and different, something gone what could be described as a process renewed, renovated or extended. According to the Mayor, this is a www.torshavn.fo that is peaceful and secure at the same time— of transformation—a process set to produce “We’re currently increasing our ho- context that makes Tórshavn perfectly [email protected] and among these people, more and more are even more tangible outcomes within the next tel capacity significantly,” Ms. Olsen positioned as a viable alternative to other Tel.: +298 302010 discovering how and why the Faroe Islands couple of years. This includes a series of new noted, with a reference to the ongoing capitals in Northern Europe. second one, to be constructed once the Fax: +298 302011 is fast becoming a very real contender in this buildings, many of which have been designed expansion of several Tórshavn hotels and “Part of our vision has to do with former has been completed, will connect Mayor: Annika Olsen highly competitive space. in a modern and original style. Some of these the upcoming construction of new ones, the ambition to become a preferred con- the island of Streymoy, which includes Chief Executive: Bjørgfríð Ludvig “This town has so much to offer,” said are schools scheduled for completion within two of which will be able to accommo- ference destination,” she said. “We’re Tórshavn, with the island of Sandoy. Tórshavn is the main economic, Annika Olsen, Mayor of Tórshavn since a year or two; coming on the heels, a batch date some 400 guests. convinced that Tórshavn already has a In education, meanwhile, the Uni- political and cultural center 2017. “As the capital of the Faroe Islands, of new hotels and extensions of existing Abroad, awareness of the existence competitive edge that can be developed versity of the Faroe Islands (Fróðskapar- of the Faroe Islands. Tórshavn plays a leading part in a wide range ones; likewise underway, a non-traditional of the Faroe Islands appears to be grow- further, which is precisely what we’re setur Føroya) has become part of a grow- of areas, first of all at the domestic level but style of residential housing with apartment ing, supported not merely through pro- looking at. The fact that we’re very small ing network of universities. Tórshavn has been the capital of the Faroe Islands since 850 MARIA OLSEN and very compact and at the same time “We encourage international col- A.D. and is the country’s largest surprisingly cosmopolitan should not be laboration in academia as well as stu- population center. Tórshavn underestimated; people realize that this dent exchange programs and it’s a prior- became an independent combination represents quite a few ad- ity to help strengthen the international municipality in 1866. vantages. Tórshavn is something unique position of the University of the Faroe The area covered by the in many ways, and people I meet from all Islands,” Ms. Olsen said. “We’re proud Municipality today is 173 square over the world, both here in the Faroes that people studying in Tórshavn can kilometers, which makes it and abroad, tell me they’re absolutely enjoy an incredible environment, sur- the largest municipality in the fascinated as soon as they learn of it. So rounded by nature and the sea, with Faroe Islands. Its population of approximately 20,500 amounts on these terms we can compete with the easy access to online resources through to more than 40 percent of the likes of Copenhagen and Berlin because world-leading internet connectivity, a total population of the country. we have something very different to of- rich supply of leisure and cultural events, The Municipality of fer.” a good number of cafes, sports activities, Tórshavn encompasses the and more.” ‘A RICH SUPPLY’ communities of Tórshavn, Argir, On another note, the Tórsvøllur Hoyvík, Hvítanes, Kaldbak, As part of the effort to facilitate and stadium is being expanded for upgrade Kaldbaksbotnur, Kirkjubøur, promote MICE (Meetings, Incentives, from a ‘Category Three’ to ‘Category Velbastaður, Kollafjørður, Conferences, Exhibitions) tourism, Ms. Four’ venue, further boosting the Faro- Oyrareingir, Signabøur, Sund, Olsen regularly attends such events to ese presence in international football. Norðradalur, Syðradalur and the neighboring islands of offer a welcome speech. “We see more Nólsoy, Hestur and Koltur. and more conferences, courses and simi- lar events,” she said. “For example, we recently had an international medical conference that gathered 400 profes- sionals from all over the world.” Mayor Annika Olsen; Apart from increasing hotel capac- The Nordic House in the Faroe ity, public infrastructure is being upgrad- Islands, a leading conference ed in a rather spectacular manner across venue in Tórshavn (opposite, top). the Faroe Islands, with two giant under- Partial view of Tórshavn’s water tunnels in progress. One of them, Cathedral with the West linking Tórshavn to two communities Harbour marina in the on the neighboring island of Eysturoy, foreground (opposite, bottom). is scheduled for completion by 2020. A 18 • 2018 Faroe Business Report Faroe Business Report 2018 • 19.