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Reykjavík is the capital and largest city of Iceland. It has a latitude of 64°08' N, making it the world's northernmost capital of a sovereign state, and is a popular tourist destination. It is located in southwestern Iceland, on the southern shore of Faxa Bay. With a population of around 120,000 (and over 200,000 in the Capital Region), it is the heart of Iceland's cultural, economic and governmental activity.

Reykjavík is believed to be the location of the first permanent settlement in Iceland, which, according to Ingólfur Arnarson, was established in AD 874. Until the 19th century, there was no urban development in the city location. The city was founded in 1786 as an official trading town and grew steadily over the next decades, as it transformed into a regional and later national center of commerce, population, and governmental activities. It is among the cleanest, greenest, and safest cities in the world.

Geography[]

Reykjavík is located in southwest Iceland. The Reykjavík area coastline is characterized by peninsulas, coves, straits, and islands.

During the Ice Age (up to 10,000 years ago) a large glacier covered parts of the city area, reaching as far out as Álftanes. Other parts of the city area were covered by sea water. In the warm periods and at the end of the Ice Age, some hills like Öskjuhlíð were islands. The former sea level is indicated by sediments (with clams) reaching (at Öskjuhlíð, for example) as far as 141 feet (42.98 meters) above the current sea level. The hills of Öskjuhlíð and Skólavörðuholt appear to be the remains of former shield volcanoes which were active during the warm periods of the Ice Age.

After the Ice Age the land rose as the heavy load of the glaciers fell away, and began to look as it does today.

The capital city area continued to be shaped by earthquakes and volcanic eruptions, like the one 4,500 years ago in the mountain range Bláfjöll, when the lava coming down the Elliðaá valley reached the sea at the bay of Elliðavogur.

The largest river to run through Reykjavík is the Elliðaá River, which is non-navigable. It is one of the best salmon fishing rivers in the country. Mount Esja, at 2,999 feet (914.1 meters), is the highest mountain in the vicinity of Reykjavík.

The city of Reykjavík is mostly located on the Seltjarnarnes peninsula, but the suburbs reach far out to the south and east. Reykjavík is a spread-out city: most of its urban area consists of low-density suburbs, and houses are usually widely spaced. The outer residential neighbourhoods are also widely spaced from each other; in between them are the main traffic arteries and a lot of empty space.

Climate[]

Reykjavík has a subpolar oceanic climate (Köppen Cfc). Despite its northern latitude, temperatures very rarely drop below −15 °C (5 °F) in the winter. This is because the Icelandic coastal weather in winter is moderated by the North Atlantic Current, itself an extension of the Gulf Stream (see also Extratropical cyclone). The city's coastal location does make it prone to wind, however, and gales are common in winter. Summers are cool, with temperatures fluctuating between 10 and 15 °C (50 and 59 °F), rarely exceeding 20 °C (68 °F). Reykjavík averages 147 days with measurable precipitation every year. Droughts are uncommon although they occur in some summers. In the summer of 2007, no rain was measured for one month. Summer tends to be the sunniest season, although May receives the most sunshine of any individual month. Overall, the city receives around 1,300 annual hours of sunshine, which is comparable with other places in Northern and North-Eastern Europe. The highest ever recorded temperature in Reykjavík was 25.7 °C (78 °F), recorded on July 30, 2008, while the lowest ever recorded temperature was −19.7 °C (−3 °F), recorded on January 30, 1971.

Economy[]

Borgartún is the financial center of Reykjavík, hosting a large number of companies and three investment banks.

Reykjavík has been at the center of Iceland's economic growth and subsequent economic contraction over the last decade, a period referred to in foreign media as the "Nordic Tiger" years, or "Iceland's Boom Years". The economic boom led to a sharp increase in construction, with large redevelopment projects such as Harpa concert hall and conference center and others.

In 2009, Reykjavík was listed as the richest city in the world in 2007 by The Economist Group.

Sister/Twin Cities[]

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