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Retail Giants Are Now Flocking to Iceland

  • H&M to follow Costco in opening stores amid economic boom
  • Consumers rejoyce as local retailers are forced to cut prices
Pedestrians walk along a snow covered street in the shopping district of central Reykjavik, Iceland.
Photographer: Arnaldur Halldorsson/Bloomberg
Updated on

A common complaint heard on the streets of Reykjavik -- apart from the weather -- is about prices. A standard burger will set you back as much as $20, while branded sneakers cost double what they sell for in the U.S.

That’s about to change.