The raw demographics

Canada:
Area 9,984,670 km^2 / 33,212,696 = 0.301 km^2 / person.
Water 891,163 km^2 / 33,212,696 = 0.027 km^2 / person.
Coastline 202,080 km / 33,212,696 = 0.006 km / person.

Iceland:
Area 103,000 km^2 / 301,931 = 0.341 km^2 / person.
Water 2,750 km^2 / 301,931 = 0.01 km^2 / person.
Coastline 4,970 km / 301,931 = 0.016 km / person.

European Union:
Area 4,324,782 km^2 / 491,018,683 = 0.009 km^2 / person
Coastline 65,992.9 km / 491,018,683 = 0.0001 km / person

Now tell me that Iceland isn't like Canada.

Given the size of Canada and how much of Canada is too far north to be readily habitable, while all of Iceland is habitable, the above numbers might astonish some Canadians. Icelanders hold more territory per person than Canadians, have slightly less water, and considerably more readily accessible productive coastline. European Union statistics have long deterred Iceland from joining the European Union. Canada's statistics by comparison should be much more attractive to Icelanders than the European Union's.

https://www.cia.gov/library/publications/the-world-factbook/print/ic.html
https://www.cia.gov/library/publications/the-world-factbook/print/ca.html
https://www.cia.gov/library/publications/the-world-factbook/geos/ee.html