Friends,
I live, and do most of my work, in Iceland. A few facts:
There are just over 60 golf courses in the country. The population has just reached 300 thousand. Most of us live in Reykjavik, or thereabouts, ca. 200 thousand. Iceland has the most golf holes per capita in Europe, along with Sweden, according to a new report from KPMG.
Most of the courses are nine-holers, scattered around the coast. Most of them have been built, or laid out rather, by enthusiasts in each town, with very little money to spend. Thankfully, I'd say, because many of these are quirky and beautiful little courses where native vegetation or natural landforms play a big role, often in a rather unusual way.
There are twelve 18 hole courses in the country. Interesting choices near Reykjavik (18 holers only) would be Reykjavik Old (Grafarholt) in the city, Keilir GC on the way to/from the airport. In more remote locations, I'd say you should check out the Arctic Open at Akureyri GC (the most northerly 18 hole course in the world according to the R&A, I am re-designing and consulting there) and The Volcano Open in Vestmannaeyjar.
Although the oldest golf club, Reykjavik GC, was established in 1934, the oldest existing course was built around 1960.
This is the basic stuff. I will try to follow up with more info if requested.
Also, I remember that I promised to post some photos from Geysir Golf Club, a nine hole design of mine that was opened in July. I will include the following link as a shameless plug:
http://golficeland.hexia.net/faces/images/list.do?type=2&face=golficeland&instance=hex