Famous for their peaceful community, unique culture with old ballads and chain-dance, hospitality and cosmopolitanism - despite, or due to their isolated islands in the North Atlantic: Faroese people. Faroe Islands is ranked among the highest in the world based on GDP per capita. From 1998 to 2015 the Faroese GDP has more doubled from 7.4 billion DDK to 16.7 billion DDK. The Faroese economy has performed comparatively well over the last years in a time dominated by the global financial crisis. Best places to stay on the Faroe Islands. One of the best places to stay on the Faroe Islands is the capital, Torshavn. The reason is quite simple – most hotels and accommodations are located in Torshavn. Also, pretty much any place that can be reached by car is less than 1,5hrs drive from Torshavn.