Borrowed Skoda and £58,000 is all it takes to be president of Iceland

The favourite to win Iceland´s presidential election in 10 days time is distinct from the majority of presidential candidates in most countries. When we think of both Donald Trump and Hillary Clinton in the United States for example, we think of certain ideas of wealth, class and experience.

Gudni Johannesson is an Oxford-educated historian who is currently on the campaign trail in the sparsely populated northern European nation - in his used Skoda Favorit. With a budget of only around £58,000, Johannesson has shown that rejecting populism and relying on small donations can be a winning formula.

With just 10 days to go until Icelanders vote for their next president, latest surveys put support for the historian at more than 55 percent, well ahead of former premier David Oddsson and Audur Capital co-founder Halla Tomasdottir, the businesswoman who was behind the BJORK private equity fund with the pop artist.

Latest surveys put support for the historian at more than 55 percent

Because of the fact that Iceland has very strict limits on how much candidates can spend during election campaigns, having a big budget is not necessarily a crucial element of a winning vote. Iceland has a population of 334,000 (around the size of Leicester), so the majority of campaigning is done on a door-to-door basis.

Johannesson has distanced himself from party politics, particularly after Iceland suffered a particularly grave financial crisis following the global downturn in 2008. The majority of the Icelandic people have a severe distrust of the establishment since those problems, and this candidate has focused his campaign on bringing power back to the people.

Johannesson has distanced himself from party politics, particularly after Iceland suffered a particularly grave financial crisis following the global downturn in 2008

"We need an article in the constitution that gives voters the chance to demand a referendum on particular subjects," he said in a recent interview.

Some, including rival candidate Oddsson, have criticised his attitude towards the "Cod Wars", Iceland's long-running fallout surrounding fishing territories with the United Kingdom.

Despite that, there is a sense that Iceland is entering a new age of political and economic prosperity. They exited their IMF support package early after a strict repayment schedule, and in autumn the general election will take place with the Pirate Party competing with the Independence party for top spot.

Although the position of President of Iceland only operates a ceremonial role, June 25th will be a time of change nonetheless as outgoing head of state Ragnar Grimsson leaves office after 20 years - possibly with the non-partisan Johannesson in his place.