In this post, I’ll try to shed some light on the mystery of how much money is needed for a trip to Iceland in 2020. Is Iceland expensive? What are the typical prices in Iceland? What’s the optimal budget for a trip to Iceland in 2020? 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.
The exchange rates as of January 2020: £1 = 161 ISK, $1 = 124 ISK, 1 Eur = 137 ISK.
Hotel & accomodation 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. Try to book a hotel in Iceland in advance, as the number of properties is limited and they sell out very quickly!
-Luxury 4*-5* hotel: If you’re in for some luxury in Iceland, then prepare to pay at least $450 for a night. There are very few luxury hotels in Reykjavik, for example, Hilton Reykjavik or Black Pearl.
Airbnb is also always an option. There you can find an apartment for 2 starting from $40. If you need a promo code (only if you haven’t booked with Airbnb before), here’s one.
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 2900 ISK (roughly $24). If you buy a return ticket to the station, you’ll save a bit ISK and pay 5400 ISK in total ($45). In case, you want the bus to bring you directly to your hotel, you’ll have to pay almost 7000 ISK for a return ticket ($56). Check the prices online: https://www.re.is/flybus/
Alternatively, you can check other bus providers and compare the prices on Expedia.
Taxi: A taxi to Reykjavik will cost you around 14000 ISK or 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 around 400 ISK.
Car rental: renting a car for a weekend in summer would cost you around $120-$170 for two days. The price depends on the season and the length of the trip (and on the car, of course). We always book with Avis (they have great new cars and good prices) – so check the availability of the car rentals and their prices in Iceland here.
Food prices and costs in Iceland. Eating out 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 and that’s the sub of the day (which doesn’t mean that it’s the one you’re going to ask for).
Another budget option would be buying food in a supermarket. For 1500 ISK, 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 (starting from $10).
If you want to go to a cafe or a restaurant, prepare to spend a bit more, around 2200-2500 ISK for a dish (meat, or fish) during the lunch and 2000-5000 ISK for dinner (just for one dish). Alternatively, you can have all-you-can-eat seafood buffet for like 6000 ISK (almost $50) in the restaurant Reykjavik.
If you want to buy a 2-course meal in Blue Lagoon, prepare to spend at least 6200 ISK 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 one soup can cost around 1200 ISK.
Going out in Iceland: nightlife in Iceland
Iceland isn’t the best party place in the world. However, Reykjavik is home to some pretty amazing bars and pubs. However, a beer would cost around 900-1000 ISK per pint and the cocktails are starting from 1900 ISK.
Sightseeing prices in Iceland: tour prices in Iceland
In Reykjavik, there are some great museums. The ticket prices are as following:
National Museum of Iceland: 2000 ISK
Arbor Open Air Museum: 1650 ISK
National Gallery of Iceland: 1500 ISK
If you want to book some excursions, it’s always easier and cheaper to book them online. Some good tours to look at:
Northern Lights Tour – from $45 (check the availability now + it’s not available all year long).
Golden Circle Tour from $54 (check the availability now).
South of Iceland full day tour starting from $90 pp. Book now.
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 from 6990 ISK 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.
Hopefully, this post was useful for you!
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