Plans by Chinese investors CSST International to contribute up to ISK 7 billion (USD 59 million, EUR 44 million) to the development of a health village in Flúðir, South Iceland, have fallen through. Financing projects in health tourism that have come up in the past few years has proven difficult.
The Flúðir project was launched in 2008, assuming a village of 200 apartments, service buildings, pools and a rehabilitation center where more than 100 people were to be employed. The plans were downscaled after the banks collapsed, ruv.is reports.
The project is still on and its representative, Árni Gunnarsson, is seeking other investors. However, funding is hard to find.
That is also the experience of other pioneers in health tourism in Iceland, such as Primacare, planning a private hospital in Mosfellsbær where foreigners can have joint replacements.
Managing director of Primacare Gunnar Ármannsson remains optimistic about the participation of foreign investors.
Nordic Health Pro was planning a private hospital in Reykjanesbær, hoping to fly in patients from abroad, but the project has also yet to be executed.