What is 0.3% Of Iceland Worth?


Polar explorer (among other things) Huang Nubo – China’s 16th richest person – has offered $100 million to buy 300 square kilometres of Iceland’s wilderness for an hotel, golf course and tourist resort.

That’s 0.3% of the total surface area of Iceland. As Mark Frauenfelder of BoingBoing usefully points out, the tattoo on Bjork’s arm there represents 0.3% of the total surface area of Bjork.

Opponents have questioned why such a large amount of land – equal to about 0.3 per cent of Iceland’s total area – is needed to build a hotel. They warned that the project could provide cover for China’s geopolitical interests in the Atlantic island nation and Nato member.

While home to just 320,000 people, Iceland occupies a strategically important location between Europe and North America and has been touted as a potential hub for Asian cargo should climate change open Arctic waters to shipping.

Chinese tycoon seeks to buy tract of Iceland (Financial Times)