Scandinavia is a large region of Northern Europe that is mainly made up of the Scandinavian Peninsula. As such, it includes the countries of Norway and Sweden. In addition, Denmark, Finland and Iceland are also included in Scandinavia.Geographically, the Scandinavian Peninsula is the largest peninsula in Europe and it extends from above the Arctic Circle at 66.5Â°N latitude south to the North and Baltic Seas.inland is a Northern European country that is located between Sweden and Russia and northern border with Norway. It covers a total land area of 130,558 square miles (338,145 sq km) and has 776 miles (1,250 km) of coastline. Finland has coasts along Baltic Sea, the Gulf of Bothnia and the Gulf of Finland.