Economy of the Faroe Islands Economy of the Faroe Islands The economy of the Faroe Islands was the 166th largest in the world in 2014, having a nominal gross domestic product (GDP) of $2.613 billion per annum. High dependence on fishing means the economy remains extremely vulnerable. The Faroese hope to broaden their economic base by building new fish-processing plants. Petroleum found close to the Faroese area gives hope for deposits in the immediate area, which may lay the basis to sustained economic prosperity. Also important are the annual subsidy from Denmark, which amounts to about 3% of the GDP. The Faroes have one of
Tour of Faroe Islands The winner of stage 1, 2 and 3 of the 2015 tour was Torkil Veyhe, the winner of stage 4 was Dávur Magnussen, who also won the mountain jersey for stage 4 which was in Suðuroy. Torkil Veyhe won the 2015 Tour of Faroe Islands, it took him 12 hours 51 minutes to race the 460 km route, Guðmundur Joensen was runner-up and Bjarke Vodder Nielsen took bronze. Dávur Magnussen won the mountain-jersey. Tour of Faroe Islands The Tour of Faroe Islands () is a road cycling race held in the Faroe Islands. The race consists of a men's, women's