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

posted by Liza 28th February 2016 7 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, other 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.

Hotels & accommodation 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 number 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 (Booking.com shows only 1).

Airbnb is also always an option. There you can find an apartment for 2 starting from 23£ (30€ or 33$).

Or just check the best hotel deals right now:



Booking.com

Airport transfers & transport costs 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: https://www.re.is/flybus/

Taxi: 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 available. A one-way ticket would cost 400 ISK (2.2£, 2.8€ or 3$).

Car rental: renting a car for a weekend in summer would cost you around $150 for just two days. The price depends on the season and the length of the trip. Check the latest prices on rentalcars.com!

Beautiful Iceland

Food costs 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$) you can buy some bread, spread, cheese, ham, chocolate, water and crackers. Eating in local bistro and döners is a bit more expensive, you can buy a meal for 1200-2000 ISK (6.7 – 11.4£, 8.4-14€,  9.2-15,4$).

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 costs 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. However, a beer would cost around 900-1000 ISK (5-5.5£, 6.3-7€, 7-7.7$) per pint and the cocktails are starting from 1900 ISK (10.5£, 13.4€ or 14.6$)

Iceland: prices in Iceland

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 popular 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! 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 don’t forget to book it in advance! The return transfer to Blue Lagoon is also 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

Summary

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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Guide to the prices in Iceland. How expensive is Iceland. Iceland prices & prices in Iceland. How much money to bring to Iceland.

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7 Comments

Danielle Des 28th March 2016 at 3:06 pm

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

Reply
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.

Reply
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Reply
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.

Reply
Heather 23rd August 2017 at 5:37 pm

I went to Iceland in November, and it’s SO EXPENSIVE! We had a blast and went to the Iceland Airwaves Music Festival. Totally worth it if you are into music. 🙂 The flight over there from the US is very cheap. You can find tickets from $300-600 round trip! Food is incredibly expensive. I say, if you’re going plan to go in a group! It makes everything cheaper. Don’t go on excursions and pay for the tour bus, just rent a car! They will upcharge you for a GPS, so just get a local map. Iceland is small enough to get around with the map, We would plan our routes on a gps when we had WIFI, then we would trust ourselves and the map to get us everywhere, and we did just find for the 8 nights and 9 days we were there! Trust me, you’ll save so much money doing this. Splitting a rental car with 4-5 people is much cheaper then paying separately for all of your excursions and figuring out the buses to get everywhere. Also, be aware of all the Iceland travel blogs you read. So many people put false information on the internet, that we looked like idiots the first day we got there. Alcohol is also very expensive there. We brought a ton from the US, but goodness their liquor stores were a joke. Overall, we LOVED Icelands besides it being a very spendy country. You have to remember, they import so much making the cost of food and everything else there expensive! Good luck if you do travel there! 🙂

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[…] Iceland is a very expensive country, so plan your budget carefully. Just for reference, simple soup with a bun costs 1000-1400 ISK (up to 7-8 pounds). And you definitely won’t be full by having the soup only. However, you can save a lot on transport. Reykjavik is such a small city that you can get everywhere on foot. Here’s a post about how expensive is Iceland: How much money do you need in Iceland? […]

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