Economic Development Director salary in Iceland

Average Yearly Salary of Economic Development Director in Iceland is approximately 13,699,046 ISK (95,249 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Economic Development Director do?

An Economic Development Director is responsible for promoting and stimulating economic growth within a specific region or community. They work closely with government agencies, businesses, and community organizations to attract new businesses, retain existing ones, and create job opportunities. The role involves conducting market research, analyzing data, and identifying potential industries for development. Economic Development Directors also develop and implement strategies to improve infrastructure, support small businesses, and enhance the overall business climate. They collaborate with stakeholders to secure funding, grants, and incentives for economic development projects. Additionally, they may represent the region at conferences, trade shows, and meetings to promote investment opportunities.

Skills: Economic Development, Business Growth, Job Creation, Community Development, Market Research, Infrastructure Improvement.
Job industry: Government

How much does Economic Development Director make?

Difference in salary year over year or average salary increase is approximately 4 %


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Salary comparison to National average

Is Economic Development Director a well paid job?

Yes, our data shows that Economic Development Director is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Economic Development Director?

High salary for Economic Development Director would be somewhere between 15,068,951 ISK and 19,863,617 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Economic Development Director in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 13,699,046 ISK
Estimated Monthly Salary: 1,141,587 ISK
Estimated Weekly Salary: 263,443 ISK per week
Estimated Hourly Salary: 6,586 ISK per hour
By working as Economic Development Director a person can save up to 5,209 USD per month or 62,503 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Economic Development Director

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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