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Is Iceland expensive? Your ultimate guide to prices in Iceland in 2017

posted by Liza 28th February 2016 4 Comments
Is Iceland expensive? Your ultimate guide to prices in Iceland in 2016
In this post, I’ll try to shed some light on the mystery of how much money is needed for a trip to Iceland. Is Iceland expensive? What are the typical prices in Iceland? Well, of course, it depends on your budget and your personal preferences: while one can survive with 100£ for 3 days in Iceland, another needs, at least, 1000£. Nonetheless, let’s look at the basic prices for different activities in Iceland.
In case you don’t want to calculate anything yourself, just download our brand new free iOS App, Tripsget, and it will tell you how much you will need based on your own preferences. Check this post about Tripsget Trip Cost Calculator to learn more about the app.
Airport TransfeR

Airport transfer and transport prices in Iceland:

There are only two options of getting to Reykjavik from the Airport.
FlyBus shuttle.
One way ticket to Reykjavik Bus station will cost you 2200 ISK (12.2£, 15.5€ or 17$)
If you buy a return ticket to the station, you’ll save 400 ISK and pay 4000 ISK in total. (22.2£, 28€ or 31$)
In case, you want the bus to bring you directly to your hotel, you’ll have to pay 2800 ISK (15.5£, 20€ or 21.5$) for a one-way ticket or 5000 ISK (27.8£, 35€ or 38.5$) for a return one.
Check the prices online:
A taxi to Reykjavik will cost you around 14000 ISK (78£, 99€ or 108$), maybe even a bit more.
Local transport:
You don’t need public transport in Reykjavik. However, if you want to take a bus, there are some.
A one-way ticket would cost 400 ISK (2.2£, 2.8€ or 3$).


Accommodation prices in Iceland:

Unlike many other countries, the main expenses in Iceland are not the accommodation expenses. Nonetheless, the accommodation prices aren’t low at all.
Here are the prices for different types of accommodation In Iceland per night (on weekend, because it’s better to bring more money than less 🙂
-1 bed in a dorm room:
From 11 to 25£(14 – 32€, 15-35$) depending on the amount of beds in a room and location of the hostel.
-Budget hotel
A very cheap room for 2 people will cost you around 35-50£ ( 44-63€, 49-70$)
-Mid-range hotel
A room in a 3* or 4* hotel you can find for 70-200£ (89-250€, 97-280$) also depending on location and room quality.
-5-star hotel 
If you’re in for some luxury in Iceland, then prepare to pay at least 250£ (320€ or 346$) for a night. There are very few 5* hotels in Reykjavik ( shows only 1).
AirBnb is also always an option. There you can find an apartment for 2 starting from 23£ (30€ or 33$).

Food prices in Iceland

There’s no McDonalds in Iceland so the cheapest international chain to eat is Subway. However, one sub will cost you 600 ISK (3.3£, 4.2€ or 4.62$) and that for the sub of the day!
Another budget option would be buying food in the supermarket. For 1500 ISK (8.4£, 10.5€ or 11.5$) you can buy some bread, spread, cheese, ham, chocolate, water and crackers.
Eating in local bistro and doners is a bit more expensive, you can buy a meal for 1200-2000 ISK (6.7 – 11.4£, 8.4-14€,  9.2-15,4$).
If you want to go to a cafe or a restaurant, prepare to spend a bit more, around 2200 ISK (12.2£, 15.5€ or 17$) for a dish (meat, or fish) during the lunch and 2000-5000 ISK (6.7 – 27.8£, 8.4-35€,  9.2-38.5$) for dinner (just for a dish) 😃
If you want to buy a 2-course meal in Blue Lagoon, prepare to spend at least 6200 ISK (34.4£, 43€ or 47.8$) per person.
Food is especially expensive during excursions. If you take a golden circle tour, you’ll eventually stop in one of the cafes and there only one soup can cost around 1200 ISK (6.7 £, 8.4€, 9.2$)

Nightlife prices in Iceland

Iceland isn’t the best party place in the world. However, Reykjavik is home so some pretty unique and amazing bars and pubs. Though, a beer would cost around 900-1000 ISK (5-5.5£, 6.3-7€, 7-7.7$) per pint and a cocktails starting from 1900 ISK (10.5£, 13.4€ or 14.6$)
Entertainment &Sightseeing

Entertainment & Sightseeing in Iceland 

In Reykjavik, there are some great museums. The ticket prices are as following:
National Museum of Iceland: 1500 ISK (8.4£, 10.5€ or 11.5$)  
Arbor Open Air museum: 1500 ISK (8.4£, 10.5€ or 11.5$) 
National Gallery of Iceland: 1000 ISK (5.5£, 7€, 7.7$)
Víkin – Reykjavík Maritime Museum: 1000 ISK (5.5£, 7€, 7.7$)
If you want to book some excursions, you can do it online.
The most basic tours are
Northern Lights tour – from 6400 ISK (35,5£, 45,1€ or 50$)
Golden Circle Tour from 10500 ISK (58£, 74€ or 81$).
Of course, there are many other more expensive tours starting from 15000 ISK. You can even fly to Greenland 🙂
You can check them out here:
That’s the website I used, when I was in Iceland, and I didn’t have any problems with them.
Also, Blue Lagoon is a must! 
Even though it’s a bit expensive, it’s totally worth it.
An admission would cost you 31£, 40€ or 44$ for the basic admission (without a towel, so don’t forget to bring your own towel).
And the return transfer to Blue Lagoon is around 3900 ISK (21,6£, 27€ or 30$)

The exchange rate used in this post:

1 ISK = 0,006£, 0,007€ and 0,008$ as for 28.02.2016

I hope this info was helpful for you! You can check everything yourself using our new Tripsget Trip Cost Calculator App – download it using this link for free (or just find it in the App store).

In case you have any questions, don’t hesitate to drop us an email or comment below.
Check some of our other articles about Iceland:
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Your ultimate guide to prices in Iceland 2017

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Danielle Des 28th March 2016 at 3:06 pm

So for a midrange budget, how much spending money do you estimate per day?

Liza 28th March 2016 at 4:32 pm

Thanks for your comment, Danielle. Hmm, for a midrange budget, I would say, you’ll need around 250-300$/day in order to live in a nice hotel, go to excursions almost every day and eat in cafes.

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Alyson 18th December 2016 at 7:39 am

Wow that’s SO expensive!! I’m sticking to Asia. Our whole family spends maybe $50 per day in most parts.


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