Iceland was the last European country to be settled, mainly by Norsemen and Celts in the 9th and 10th centuries. Iceland is the most sparsely populated country in Europe with about 3 persons per km2. Almost 78% of the country is uninhabited, the population concentrated on the coast and in the southwest corner of the island. Despite its challenging natural conditions, Iceland's standard of living is one of the highest in the world.