Iceland's economic meltdown of 2008 made the country synonymous with the global recession at the time. However, with a cautious recovery now under way – thanks in no small part to a tourism boom – there is a determination in the country to ensure that this growth is better balanced, and it is looking to foreign investment to achieve this.

A diaspora has long been an invaluable source of income to those in developing countries. But channelling this capital into public projects that will benefit the country in the long term is a difficult task, and one which only a few are experiencing notable success in.

Within the space of two years, Cyprus has gone from being one of Europe's crisis countries to now having many causes for optimism, with its banks back in international favour and the island's tourism market showing a marked uptick.

Ragnheiður Elín Árnadóttir, Iceland's minister of industry and commerce, tells Courtney Fingar about how the country is fighting back after its very public financial crash, and looks ahead to its capital controls being lifted.

Far from the Kremlin's corridors of power, Russia's second-tier cities are striving to transform themselves. fDi looks at how the Russian cities of Tomsk, Rostov-on-Don and Tula are trying to attract investors amid geopolitical uncertainty in the region.

Investors are looking beyond Romanian capital Bucharest to cities such as Timisoara, Cluj Napoca, Brasov and Constanta, and finding growing economies, skills and business capacity. 

The discovery of oil off the coast of Marica has transformed the Brazilian city. Keen to ensure this economic good fortune lasts, the city's officials have sought investment in other areas – including tourism and infrastructure – as part of a long-term plan.