3 ms·
You paid 20 euros, Danish taxpayers paid the rest. The 50k people in the Faroes are subsidized to the tune of 100m a year, which comes out to over $2k/person/y
by jpatokal 8y ago
You paid 20 euros, Danish taxpayers paid the rest. The 50k people in the Faroes are subsidized to the tune of 100m a year, which comes out to over $2k/person/year.
Update: Math fixed. That's actually less than I thought...
- jholman 8y agoMight wanna check your arithmetic. I'm honestly baffled that it's so low. I think it's safe to assume that the reason that Denmark does so is to assert territorial control over sub-oceanic resources that are hypothesized to exist. It's probably a sound investment.
- walrus01 8y agoFishing rights EEZ
- neffy 8y agoThere's a lot of hidden subsidies in things like teachers and doctors coming over from Denmark for a few years, and I suspect they don't include the cost of the naval support either.
- Sammi 8y agoI don't think one can overestimate the geo-political value that Denmark earns from having the Faroe Islands and Greenland under the Danish crown. Surely one does not need to be jaded to think that there is a reason other than altruism that makes Danish politicians vote in favor of paying this subsidy each year.
- sakarisson 8y agoThe Danish subsidy is 86 million euros. It's approximately 3% of the annual Faroese GDP. Of course it has a positive effect, but I think you (and most Danes) are severely over-estimating the impact of that subsidy.
- Luc 8y agoI don't think it makes sense to compare the subsidy to GDP. Compared to the government budget it is likely a large multiple of those 3%.