iceland tour cost

The Cost of Travel in Iceland: My 2024 Expense Report

Iceland is one of the most visually spectacular countries I’ve ever been to.

From the breathtaking landscapes to the welcoming locals, the wonders of this country were obvious from my first cold steps on Icelandic terrain. 

During my time spent traveling in the Land of Fire and Ice , I gazed in awe at waterfalls streaming from towering mountains, explored a volcanic crater-turned-lake, stood mere steps away from an active geyser, skipped over black sand beaches, and crunched my way across turquoise glaciers.

But today, we’re here to talk about the prices.

Iceland has a reputation for being expensive — one of the most expensive countries in Europe, in fact — and things have only grown worse since the pandemic. Most shockingly of all, accommodation that I stayed at a year ago has now doubled in price[!]. It really is quite shocking.

But you know what? This is the case for practically every single major tourism destination right now, in Europe and further afield. Prices everywhere are skyrocketing, but there are still some ways that you can keep your costs down.

I’m going to be sharing all of those with you today.

The most expensive time of year is mid-June through to August, so you can expect prices to double again during these summer months.

Once you leave Reykjavik, however, you’ll find prices on food and accommodation dip to a more comfortable level. And with free activities scattered all over the island, there’s plenty of ways to keep your costs even lower.

So how much does it cost to travel in Island? In this article, I’m going to be sharing exactly how much you can expect to spend in 2024. Note that I’ve mentioned all prices in USD, since there are more visitors to Iceland from the United States each year than anywhere else.

The Ultimate Iceland Itinerary

Before I start diving into the nitty-gritty details of costs, I want to first go over where I visited in Iceland and how you can spend two weeks seeing the most epic parts of the country.

Iceland, fortunately, is one of the easiest countries to plan a road trip in. Why? Well, there’s essentially only one road!

That is, of course, an exaggeration, but the Ring Road of Iceland is the main road in the country and it encircles the entire island. Taking a road trip, then, is all about circling your way around the country and choosing the most epic spots. Here’s what I recommend, taking a counter-clockwise route from Reykjavik:

Day One: Reykjavik Day Two: Selfoss Day Three: Vík Day Four: Höfn Day Five: Egilsstaðir Day Six: Mývatn Day Seven: Mývatn Day Eight: Akureyri Day Nine: Sauðárkrókur Day 10: Ísafjörður Day 11: Staðarhólskirkja Day 12: Midhraun Day 13: Reykjavik Day 14: Reykjavik

How to Save Money on the Cost of Accommodation in Iceland

As always with travel, it’s possible to cut your accommodation costs down to zero if you have the time and patience to seek out an offer.

Housesitting  is a great option for  free  accommodation. This is where you’ll take care of somebody’s house while they’re away, and usually look after their pets, too. It’s best for long-term travellers or retirees as you can’t pick and choose dates and destinations, so you need to have a lot of flexibility as to where you go and at what time of year. If you  do  have that freedom, it’s a wonderful way to cut down your travel expenses, soak up some home comforts, and live like a local for a while. I have friends who have housesat in castles before! For free!  Trusted Housesitters  is the best site for getting started with housesitting, as they have the highest number of listings.

I’m suspecting, though, that for most of you, you’re not interested in the free accommodation and just want somewhere clean, safe, and affordable to rest your head each night. If that’s the case, there are several options available for you.

The first of these are  hostels . In Iceland, you’ll come across hostels dotted all over the country, although most of them are unsurprisingly in Reykjavik. They’re one of your best options for saving money as a solo traveller.

Hostels in Iceland  are on a par with the rest of Northern Europe, and you can expect to spend around  $40 a night for a dorm bed  for a well-reviewed hostel in Iceland, with the price increasing to about  $6 0 a night  for the absolute best of the best.

When it comes to private rooms in hostels, you can expect to spend around  $150 a night  for a clean, basic room in a good location, so if you’re travelling with friends or with your partner, it doesn’t always cost a lot more to grab some privacy over settling for two beds in a dorm room.  $200 a night  will get you an exceptionally well-reviewed private room in a hostel.

I use  HostelWorld  to find the cheapest hostels, as they tend to have the greatest number of listings at the lowest prices.

But what about the hotels? That’s what most of you are interested in learning about anyway!

The Cost of Accommodation in Iceland

If you’re travelling as a couple and were getting worried by the cost of private rooms in hostels that I talked about earlier, I’ve got some good news for you. There’s much more competition when it comes to hotels, so they can often be cheaper and nicer than their hostel equivalents.

In this section, I always like to share my favourite accommodation for a destination: where I chose to stay, how much I paid for it, and what I thought about the property. Here’s my choices for Iceland:

Reykjavik: Freyja Guesthouse ( $145 per night for a deluxe double room)

Not only is this guesthouse one of the highest-rated properties in Reykjavik on Booking, but it’s also one of the most affordable options, too. And I loved this place. It’s in the perfect location for exploring Reykjavik, right around the corner from the iconic Hallgrímskirkja church. The rooms are clean and cozy, and I especially liked the little kitchenette that let me save a bit of money on breakfast and drinks. It’s run by the most incredible family, and there are even free bikes for guests to use at any time. This place offers exceptional value for money in Iceland!

🇮🇸 Don’t forget to check out my post on the 19 Best Things to Do in Reykjavik !

Selfoss: Ásahraun Guesthouse ( $127 per night for a, um, barrel)

Now, I don’t know about you, but whenever I come across the opportunity to sleep in an unusual style of accommodation, I always leap at the chance. Life is too boring to spend every night in a hotel, right? … Right? So that’s what brought me to Ásahraun Guesthouse , where you can stay in a, um, barrel. Yes, you read that correctly. But in all seriousness, it’s such a cool spot and way, way nicer than you’re expecting. It receives a remarkable score of 9.5 on Booking, and that’s all due to the incredible setup. For your money you get to stay in the cosiest barrel-style room with its own fridge and kettle, have access to a hot tub (if you’re lucky you might spot the Northern Lights from it), and be fully immersed in the incredible natural surroundings. There’s a high-quality shared kitchen to prepare meals if you’d like to, and the owners are absolutely lovely and fully committed to helping you have the best stay ever. I wouldn’t be surprised if this ended up being the accommodation highlight of your time in Iceland.

Vík: Guesthouse Galleri Vík ( $287 per night for a double room)

This is such a wonderful place to stop for the night, and we were so glad we chose to do so. It’s cosy, comfortable, and clean, with a welcoming owner who makes amazing homemade waffle dough and jam: there’s a waffle iron in the room so you can put it all together for a delicious breakfast. The guesthouse itself is in a great location in Vik, right in the centre of town and within walking distance to that beautiful black-sand beach.

Höfn: Old Airline Guesthouse ( $133 per night for a double room)

Now, I’m not going to say that my favourite thing about this guesthouse is the fact that it had a washing machine and dryer, but I will tell you that it was very much appreciated after several days of road-tripping! The accommodation itself is right in the heart of Höfn, close to all of the best restaurants (I recommend Pakkhús for dinner; it’s the best restaurant in town!) as well as a supermarket and petrol station. The room was clean, spacious, and bright, and the hosts couldn’t have been nicer. All in all, this was a really good (and affordable) place to stay for a night on our road trip!

Egilsstaðir: Hotel 1001 Nott ( $284 per night for a double room)

This was one of priciest places we chose for our road trip but the beautiful location and epic views from the room made it more than worth it. You’re nestled in between the mountains and the lake here, with hot tubs to take a dip in (I recommend doing so at sunset) and even a waterfall to stroll to. A delicious breakfast is included in the price: for other meals, you can either eat onsite or drive 5km back down the road to Egilsstaðir. I’d definitely suggest having dinner at the hotel at least once, though: the food there is absolutely delicious (reindeer burgers for dinner, anyone?) This would be a particularly wonderful option if you’re in Iceland on a romantic getaway.

Mývatn: Vogafjós Farm Resort ( $251 per night for a double room)

Mývatn doesn’t have much in the way of accommodation, and most of what it does have doesn’t receive the greatest reviews. This property stands out from the crowd, then, and we loved loved staying there! You’ve got cosy wooden log cabins to sleep in, helpful staff who can help you make the most of your time in the area, and you’re just 10 minutes from the local thermal pools. Throw in an excellent restaurant in a cowshed a three-minute walk away that’s run by the same family (breakfast there is included), and you’ve got yourself an excellent stay in Mývatn.

Akureyri: Hafdals Hotel ( $233 a night for a twin room)

This hotel is just outside of Akureyri — a five-minute drive to the centre — but it’s worth staying a little way out of town because it lands you with some spectacular views instead. You’ll be looking over the city, gazing out at the fjords, and admiring the river while you stay here, in a clean and modern hotel, with a lovely owner, and a delicious breakfast. This is a great place to base yourselves while day-tripping around the north of Iceland, too.

Sauðárkrókur : Karuna Guesthouse ( $113 a night for a twin room)

We considered staying in Blönduós for this night, but the accommodation was so poorly-rated there, that we decided to opt for Sauðárkrókur instead. And what a great idea! This guesthouse felt like a steal — it was one of the cheapest places we stayed in Iceland, but it didn’t feel like it: we had the best sleep of our trip in those comfortable beds (plus blackout curtains — always appreciated!), and the owner was absolutely wonderful. The free food she left out for breakfast was so appreciated (freshly baked bread!), and the views across the fjords were magnificent. All in all, a great place to stay.

Ísafjörður : Tangs ( $260 a night for a 4-person apartment)

If you plan on venturing into the Westfjords, this is the place to stay ! It’s an apartment, rather than a hotel, and located in the centre of town within walking distance to everything. The place is clean, spacious, and stylishly-decorated, and even offers free bicycles for guests to use. And trust me — as somebody who has stayed in over 100 Airbnb apartments over my years of travel — this apartment has one of the best-equipped kitchens I’ve ever come across. Oh, and having a washing machine and dryer were a huge bonus after many days on the road!

Staðarhólskirkja: Miðjanes Reykhólahrepp ( $90 a night for a double room)

This cosy guesthouse and working farm (wait until you taste the fresh milk from the cows!) was such a lovely place, with beautiful views over the ocean — great for sitting in the living room and bird-watching. You’ve got access to a communal kitchen and living room, which resulted in so many new friendships, and the owner has tons of useful advice on where to go and what to do. It’s a little isolated, so soak up those peaceful vibes, because you’ll be heading back to Reykjavik in just a couple of days!

Midhraun: Lava Resort ( $176 per night for a double room)

This is the cutest collection of cottages ever! You’ll be staying in beautiful surrounds in an adorable cottage , with plenty of nearby trails to wander along while you’re here — I recommend the one that takes you out on to a nearby lava field. The cottages have plenty of amenities with fully-equipped kitchens, plenty of storage space, and a laundry room to get any washing done. It’s perfect location for exploring everything the peninsula has to offer!

My average cost for accommodation in Iceland was $189 a day between two people. 

The Cost of Transportation in Iceland

Let’s talk first about the costs involved in getting to Iceland. For all of my North Americans and Europeans out there, you’ll most likely be pleasantly surprised by the prices.

When you check flight prices on Skyscanner , you’ll be greeted by a wall of IcelandAir flights. And the great news about that is that IcelandAir offers free stopovers in Iceland whenever you opt to fly between Europe and North America. I utilised this when flying from Washington D.C. to London several years ago and it was epic . I was able to stop in Iceland for three days on my way over at no additional cost, so I used that time to explore the Golden Circle.

If you’re planning a trip to Iceland itself, know that you’ll be looking at around $400 for return flights from the east coast of the U.S. to Reykjavik.

If you’re in Europe, flights are inexpensive. From London, you’ll be looking at around £70 return. For other major flight hubs within the continent, such as Paris, Madrid, Milan, and Berlin, flights will usually be around €150 return — not too bad at all!

Don’t forget to have a quick check of Secret Flying before you book your flights either — there may be a bargain up for grabs that coincides with your travel dates!

But what about transportation within Iceland?

Iceland is made for road-tripping. If you’re planning on spending a week or two within the country, it’s the absolute best way to get around. Renting a car within the country is inexpensive and navigating is easy — you simply follow the iconic Ring Road around its 1,300 kilometres — or 828 miles — until you end up back in Reykjavik. The roads are well-paved and there’s hardly any traffic, which makes for an incredibly easy road trip.

I used RentalCars to find my car in Iceland; they check prices across all of the major hire companies to surface the cheapest options out there. Within Iceland, you can expect to pay between $38 and $52 a day for a rental, which really isn’t too bad at all. If you’re not having any success with RentalCars, take a look at the Iceland-based Northbound , as you can sometimes pick up a deal through there.

Self-drive tours are popular within Iceland, although I don’t personally believe they’re necessary — it’s so easy to drive around Iceland on your own!

With these self-drive tours, you essentially pay for somebody to put together an itinerary, get you a rental car, book your accommodation for you, and even provide you with breakfasts. But there’s plenty of itineraries available online for free (I shared mine in the previous section!), it’s easy to find your own rental car online, and it’s better to head out to local restaurants to try the breakfasts anyway. Icelandic Nordic Visitor has dozens of self-drive itineraries to sign up for — as an example, a 7-day self-guided tour starts from $1586 per person .

If you’re considering a self-drive tour, I’d urge you to save your money and use it on nicer accommodation.

If you can’t drive, or don’t want to, there are buses and tours that can help you see the country without needing your own set of wheels. Straeto gives some great bus routes for traveling in and around the capital city, but public transport in general is hit and miss outside Reykjavik: there isn’t a lot of it, and it doesn’t necessarily go where or when you want it to. Here are some typical prices for transport in Iceland:

• Flight from Reykjavik to Akureyri: $66
• Flight from Reykjavik to Seydisfjordur (EGS): $96
• Single bus ticket in Reykjavik: $4.50
• Bus from Reykjavik to Stykkisholmur: $38
• Strætó Bus app fare per month : $76
• 3-day bus pass in the Reykjavik area: $41
• 1-day bus pass in the Reykjavik area: $18

The Cost of Food in Iceland

We all must eat and thank goodness for that because both the traditional and contemporary cuisine in Iceland is top notch. I know, I know — Iceland doesn’t have the best reputation for cuisine, with rumours abounding of fermented shark and smoked puffin, but dig a little deeper and you’ll find plenty of treats.

First and foremost, you can’t leave the country without eating a hot dog. That’s right, a hot dog . This popular street food has made a tasty name for itself in Iceland and you’ll find them everywhere. It’s a dish that’s cheap, good, and easy to find, from basic street cart varieties to fancy or vegan versions in restaurants all over the country.

Prices vary, but expect to pay somewhere between two and four dollars . Start by heading to Bæjarins Beztu Pylsu, a hot dog stand that by now has achieved near-legendary status in Reykjavik, so that you know what a good one is meant to taste like!

Moving on from the street food options, if you plan to eat out, breakfast will be your cheapest meal. Budget around $10-25 , depending on how hungry you are. Expect to pay around the following prices:

• Coffee: $3 for filter, $4-5 for latte/cappuccino
• Croissant: $4
• Skyr (thick, tangy yoghurt) and granola: $7
• Hafragrautur (Icelandic oatmeal): $10
• Salmon/bacon, potato, and scrambled eggs: $21

Lunch tends to be a relatively light affair in Iceland; think soups, salads, and sandwiches rather than large, heavy meals. Expect to pay somewhere between $15 and $25 , based on where you are in the country and whether you’re still full from breakfast! Some typical options include:

• Soup is a common lunch meal, although the type you’ll see on menus changes with the season. Expect lamb or thick, chowder-like fish and potato during the colder months, and tomato or a lighter fish soup during summer. $17
• Open-faced sandwiches on rye bread with salmon, ham, cheese, or hummus and vegetables: $14
• Chicken or fish salad: $19

Alternatively, you’ll find a few restaurants offering a lunch buffet with a range of options for a set price: this is a good way of trying different Icelandic dishes, and is a good way of saving money, since it’s cheaper than eating out at dinner time. Having a larger meal for lunch and something small for dinner might not be traditional, but it is cheaper, especially outside weekends! You’ll pay around $25-40 per person for this.

Dinnertime will likely be your most hefty splurge, where you can expect to spend anywhere from $25 to $50 or more for a meal and a drink.

Reykjavik Fish Restaurant is a great spot to get a feel for Icelandic fare with their standard fish and chips dish costing $22 , and several other tasty seafood options on the menu.

Reykjavik’s Islenski Barinn, or the Icelandic Bar, is where you’ll want to go to if you’re craving a local vibe with traditional Icelandic eats. Yes, it’s a bar but no, you won’t find your typical boring bar food. From puffin on crumpet to lamb and salmon hotdogs to shark bits and reindeer burgers, you can expect a more upscale and unusual pub experience. Prices aren’t too bad, however, at around $15 for smaller dishes and $25-35 for larger ones.

When it’s time to treat yourself, find Von Mathús in HafnarfjordurIf. The best thing about Von Mathús is you get to soak up the classy, contemporary setup and splurge on the delectable food, without the wild prices of fine dining. The menu isn’t large, but it’s well thought out and delicious. A 3-course set menu costs $76 , or you can pick and choose from the a la carte offerings instead. When it comes to drinks, be sure to check out the happy hour offerings; they run practically all day (11:30 am to 2 pm/4 to 8 pm)! 

Speaking of happy hour, it’s kind of a thing in the capital. Loft Hostel is very popular thanks to the rooftop terrace that yanks locals and visitors in from the street, begging them to sit and sip for a while. They have beer deals from 4 to 8 pm daily. 

Veður Bar & Café is a classy establishment that loves sharing their discounted beverages. So much in fact their “happy hours” stay happier longer. Beer and wine is discounted every day from 2:00 to 7:35 pm (yes, they are precise on their cut-off time), starting at $6.50 , a bargain by Icelandic standards! There’s also a cocktail “hour” from 7 to 9 pm that pulls in the patrons, with drinks from $16 . You should also know, Thursdays are a special day at the Vedur: that’s when bubbly flows for only $7.50 .

Of course, if you opt to not drink, it will definitely lower your costs. Alcohol isn’t cheap in Iceland, especially if you are buying it a full price in a pub. Your best option for a tipple is to load up at the grocery store, where local beers cost around $4 for a 500ml can, imported beers run a dollar or two more, and the average midrange bottle of wine goes for approximately $20 . 

If you have access to a kitchenette in your hostel or hotel, then buying food at the supermarket is the cheapest overall option. Groceries are comparable to what you might spend in the U.S. — here are a few examples:

• a gallon of milk: $6.50
• a pound of chicken fillets: $10
• a dozen eggs: $6
• a load of bread: $3.50
• a pound of cheese: $9

Whenever possible, shop at Bonus: there are over 30 of them around the country, they’re easy to find (being bright yellow), and they offer the best discounts on food. 

The average price for eating out in Iceland is $79 a day

The average cost of food when cooking simply at home in Iceland is $18 a day

The average cost of food when combining both eating out and cooking is $51 a day

The Cost of Activities in Iceland

Iceland is Mother Nature’s playground. It feels like there’s almost no limit to the outdoor activities and sightseeing on offer in this geographic wonderland. That, on top of the nightlife, daytime biking adventures, and a strong gastronomic scene, make it very easy to keep busy. 

The first thing you’ll want to do when you arrive is head to the Blue Lagoon . One of the biggest tourist attractions in the country, it’s absolutely worth taking a dip in the milky-blue waters, but expect to share the experience with many others. It’s popular for a reason!

We opted for the $148 package that includes a silica mud mask, free drink (we chose champagne!), and towel. If you’re not into commercial tourist activities, fear not: solitude and free hot springs aren’t hard to find as long as you’re up for the adventure. 

Reykjadalur Hot Springs requires an hour-long hike to get to but once you arrive you have a whole river to soak in. Grotta Lighthouse Footbath is in Reykjavik and is easy to access but note the word “foot” in the name: it’s not very deep, but it is unique!

There’s a wide range of day trips available to visitors from Reykjavik through Get Your Guide for those of you who are short on time. They’re great options if you’re taking that three-day layover between the US and Europe that I mentioned earlier: some of the best day tours include:

• a south coast day trip , where you walk behind a waterfall, walk on the black sand beaches of the southern coast, visit the southernmost village in the country, and check out the Sólheimajökull glacier: $101
• going lava tunnel caving , where you take a guided tour through the Raufarhólshellir lava tubes that were formed after a volcanic eruption over 5000 years ago: $108
• a Golden Circle day trip that takes in the best waterfalls, lakes and geysers in the southwest of the island, and includes seeing where the North American and Eurasian tectonic plates meet: $74
• a small-group trip to the Snæfellsness Peninsula , visiting the Berserkjahraun lava fields, Snaefellsjokull volcano, and Kirkjufell mountain along the way, not to mention a delightful seal colony: $146
• An ice cave day trip , where you get to hike across Myrdalsjokull glacier (crampons provided!) and walk inside the incredible ice caves of Kötlujökull glacier: $204

One of the most memorable moments from our trip was hiking the Sólheimajökull Glacier, where we were able to rappel down crevasses and drink the most delicious 400-year-old water. 

Biking is also a fun way to sightsee in the capital, at least when the weather is good. If you’re feeling more adventurous, you can book a tour to navigate other parts of the country on two wheels as well. Reykjavik Bike Tours offer guided day trips to the Golden Circle, Coast of Reykjavik and Westman Isles, to name a few. Prices for bike rentals start at $29 while guided tours vary depending on location.

Driving the rural roads of Iceland is one of the best ways to see and feel the essence of the country. Beginning in Reykjavik, the Golden Circle is a 190-mile loop that offers a wealth of natural beauty. Big ol’ blocks of ice, more commonly referred to as glaciers, black sand beaches with natural ice sculptures the size of me, funky moss, and tiny elf houses line the route around the circle. There’s something remarkable to see around almost every corner. 

The great thing about the Land of Fire and Ice is the best things are often free. Exploring the more remote parts of the island and soaking up the natural beauty is the best way to experience the country on a budget, whether that’s by car, bicycle or foot. Even walking out of your hostel can be a beautiful experience with the right vantage point!

And, of course, there’s the Northern Lights. 

I can’t write an article on Iceland and not highlight the lights! We went in late September with the goal of seeing that incredible night sky. That’s quite early for the lights to appear, so it was a bit of a gamble, but a gamble we won. Soaking in our hot tub, we were able to gaze up in awe at the illuminated fluorescent swishes dancing above us. It was a moment I’ll never forget.

If you can, book your trip during the months of September to March and hunt down those lights. You won’t regret it! 

The average cost of activities in Iceland is $29 per day

The Cost of Travel Insurance in Iceland

I’m all about ensuring that every single one of my readers understands the importance of travel insurance. When you work in the travel industry, as I do, you’re inundated with news of destitute backpackers on GoFundMe who fell ill while travelling, didn’t have travel insurance, and now can’t afford the hundreds of thousands of dollars needed to be airlifted home for medical care. It happened to an old school friend of mine just last year. In short, if you can’t afford travel insurance, you can’t afford to travel.

Travel insurance  will cover you if your flight is cancelled and you need to book a new one, if your luggage gets lost and you need to replace your belongings, if you suddenly get struck down by appendicitis and have to be hospitalised, or discover a family member has died while you’re overseas and need to get home immediately. If you fall seriously ill, your insurance will cover the costs to fly you home to receive medical treatment.

I use  SafetyWing  as my travel insurance provider, and recommend them for trips to Iceland. They’re one of the few companies out there who will actually cover you if you contract COVID-19. On top of that, they provide worldwide coverage, don’t require you to have a return ticket, and even allow you to buy coverage after you’ve left home. Finally, they have a clear, easy-to-understand pricing structure, which is always appreciated. A two-week trip to Iceland costs $21 with SafetyWing.

How Much Does it Cost to Travel in Iceland?

So how much can you expect to spend on an incredible trip to Iceland? At the end of these budget breakdowns, I always like to pore over my receipts, tally up my every expense, and tell you guys exactly how much my travel adventures cost.

A two-week long road-trip in Iceland, during which I was travelling on a mid-range budget as part of a couple and moving almost every day, came to the following:

• Accommodation:   $189 per day for two people ( $94.50 each )
• Transportation:   $46 per day for two people ( $23 each)
• Food:   $51 per day
• Activities:   $29 per day

Total amount spent per day: $197.50 each

Sure, it’s not the cheapest vacation option out there, but I promise you: Iceland is so, so worth the money! It really is one of the most remarkable places I’ve ever been.

So what do you think? Is Iceland more or less expensive than you expected? Have the prices put you off or made you all the more determined to get over there? And, as always, let me know if you have any questions and I’ll reply to them all in the comments below!

Further reading.

• Best Things to Do in Reykjavik: Don’t forget to check out my in-depth guide to all the best things to do in Iceland’s capital!
• 22 Mind-Blowing Things to Do in Iceland : All of my favourite things to do in Iceland!
• How Much Does it Cost to Travel?: If you enjoyed this budget breakdown, I’ve got a whole lot more to share with you! I’ve been recording my travel expenses for 13 years and counting, and have published over 70 detailed expense reports on my site.
• How to Find Cheap Flights Around the World: My biggest and best tips and tricks for scoring a great deal on flights.

Lauren Juliff

Lauren Juliff is a published author and travel expert who founded Never Ending Footsteps in 2011. She has spent over 12 years travelling the world, sharing in-depth advice from more than 100 countries across six continents. Lauren's travel advice has been featured in publications like the BBC, Wall Street Journal, USA Today, and Cosmopolitan, and her work is read by 200,000 readers each month. Her travel memoir can be found in bookstores across the planet.

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Great photographs of Iceland! The waterfalls are amazing. $41 dollars a day is completely reasonable if not downright cheap. Thanks for laying of the expenses so clearly.

This post is so helpful! Money is always something I’m worried about when traveling.

Thanks for this post it was super useful in planning our trip to Iceland! Your pictures are so inspiring too!

Thanks for this useful guide! Planning my two week road trip to Iceland now that I’m fully vaxxed and can’t wait to see some of these beautiful landscapes with my own eyes. Your article helped so much with my trip planning.

I guess prices must have shot up since you went there. I was just pricing rental cars and for the cheapest car I could find, it was over $4500 for 12 days. The self-guided tours that included budget accommodation and a cheap car were a bit cheaper, but were $5000 for 2 people for 12 days.

What dates are you looking for, Brett? I’m happy to have a look and see what I can do. I’m seeing prices of $700 for a 12 day hire for September, for example.

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How Much Does an Iceland Trip Cost? (2024 Iceland Budget)

Iceland is known for being an expensive destination and after visiting Iceland three times and helping over 30 people plan their Iceland trips, I’ve gotten a good sense of the average Iceland trip cost. While it is pricey, your Iceland vacation cost can still be within reach if you build your Iceland budget carefully.

To be honest, I’ve seen everything, from people who found a cheap flight, stayed in hostels, and signed up for group bus tours to keep costs down, all the way to luxury travelers who book private drivers, luxury hotels, and go all out with adventure experiences. Did someone say private helicopter rides?

So how much does a trip to Iceland really cost? It depends on what type of experience you are looking for, what kind of traveler you are, and ultimately, how much you want to spend. And while I wouldn’t recommend taking big bus tours, if that is the only way you can see Iceland, it is still worth it to visit this incredible country.

There are few places in the world that have touched my soul and captured my heart like Iceland has. For its raw beauty, fire and ice extremes, vast emptiness (outside of main tourist stops), to the endearing quirkiness of the Icelandic culture, it is a place I will return to again and again.

The good news is that Iceland has greatly expanded its hotel inventory, which helps balance supply and demand. The exchange rate from U.S. Dollars to Icelandic Króna has also been trending in the favor of American tourists recently. And, Play Airlines has brought a budget airline option back to Iceland.

Average Iceland Trip Cost

I’ll cut to the chase and give you the bottom line on how expensive a trip to Iceland can be, but be sure to read on to see the breakdown and ways that you can save money in each category. The average trip to Iceland cost adds up to about $300-350 per person, per day including airfare. (Based on current exchange rates) This assumes budget airfare, budget accommodations, limited organized activities, self-driving, and being careful in your food choices.

If you are traveling solo, your best bet will likely be staying at a hostel or renting an Airbnb. Though it definitely helps to travel with others so that you can split the costs.

Since hostels and bus tours aren’t our things, I’ve based the average cost for a trip to Iceland for a family of four staying in nice (but not extravagant) hotels or guesthouses and renting a car for a self-driving vacation. I’ve also included a few activities since I think it would be a shame to get to a bucket list destination like Iceland and not get to take part in a few adventures. But keep in mind, that there is enough natural beauty and hiking available that you can easily bypass these to conserve your budget.

The average Iceland trip cost for a family spending a week in Iceland is around $8,545 including airfare. Yup, that is about $1,220 a day for the entire family. Of course, I have worked with families of five that have spent $25,000 on a 10-day trip, and couples who have spent $5,000 on a week-long trip. I’ve even planned an Iceland vacation for a solo traveler that cost them only $2000, all costs included, for a five-day trip. Making Iceland one very versatile vacation.

Iceland Budget Tips

Note: This post contains affiliate links. If you click a link and make a purchase, I may receive a small commission. 

If you want to save some money, my partner Hidden Iceland offers my readers 10% off scheduled group tours if you use promo code WE3TRAVEL. We have traveled with Hidden Iceland and highly recommend this company for its expertise, professionalism, and friendliness. See all their available tours . You can also book private tours or get help planning your whole itinerary — just be sure to mention We3Travel when you contact them.

You can visit Iceland on any budget, at least in theory, but here are some suggestions for keeping costs down:

• Try camping instead of staying at hotels or guesthouses. You can rent a campervan that fits two people for about $130 a night, up to about $300 per night for larger campervans. You can camp for free in Iceland but if you are in a camper van, you will probably want to stay at a campground with facilities so budget another $10-50 per night for a campsite reservation.
• If you don’t want to camp, you could also stay in hostels, which will run you around $40-100 per person per night in Reykjavik.
• Airbnb or vrbo is another option for vacation rental apartments and cabins, which is a great option for families compared to renting two hotel rooms because there are only a few hotels in Reykjavik for families that offer family-size rooms with beds enough for 4-5.
• Food is one of the especially high expenses in Iceland so to save money, purchase and prepare your own food or buy snacks at the gas station convenience stores. If you want a foodie experience, you are going to pay through the nose for it so get used to sandwiches, burgers, and those famous Icelandic hot dogs.
• Avoid paid attractions like the Blue Lagoon and costly excursions like off-roading tours and focus instead on scenic drives, stops at waterfalls, and nature hikes.
• Stay in the countryside and avoid the biggest tourist spots instead of Reykjavik as things are going to be more expensive in the capital city. I was surprised by how affordable the accommodations are in the Westfjords and Snaefellsnes Peninsula .

Before you worry about having to convert and carry a ton of cash around Iceland, don’t stress. Almost everywhere takes credit cards in Iceland. Be sure to read my Iceland tips for some caveats.

How Much Does an Iceland Trip Cost?

Let’s break down the average Iceland budget. As with other posts where I’ve broken down vacation costs for Italy , London , Greece , and Paris , this post outlines pricing for two adults and two children between the ages of 6-11, traveling from a major airport hub in the United States during the summer high season, such as NYC to Reykjavik , and spending a week in Iceland.

I find that in Iceland, some hotels list their prices in Euro, and most show rates in Icelandic Krona. To make it easier, I’ve converted to U.S. dollars to create an even playing field.

I can’t even count the number of emails that I’ve gotten from people traveling to Iceland that start with “I found a great airfare to Iceland next month (or some other close time frame)…” I then go on to pop their bubble about how expensive the rest of the trip will be.

Once WOW went out of business, prices went up a bit but I still have found rates on IcelandAir or Play Airlines from Boston for about $300-500 per person, roundtrip. However, you then need to build in the cost of checked luggage (unless you are an amazing packer Iceland will typically mean a checked bag) and seat selection. This can easily add another $100-200 per person.

I highly recommend signing up for a membership to Going to get alerts on flight deals and set up preferences for your dream destinations.

If you want to find the best way to accumulate points and miles through credit card spending and sign up bonuses, I’d suggest downloading the  Travel Freely app  to track your credit cards and learn how to earn points.

Total airfare cost ($500 per person, round trip x 4 people): $2,000

Accommodations

If you are traveling solo, it is easy enough to stay in a hostel to save money on accommodation in Iceland. But most families will prefer either a hotel or Airbnb/VRBO. A rental will certainly save you money as there are only a few hotels that offer family rooms .

Most Reykjavik hotel rooms either have a double bed (two twins pushed together) or two twin beds. Occasionally you can find a triple or a family room, but a family of four often needs to reserve two rooms. A nice hotel in downtown Reykjavik with a family room will cost between $400-600 per night. You can also get two rooms at a moderate hotel for about $150-250 per night each.

Renting a vrbo apartment will save you a significant amount, as long as you are comfortable as an independent traveler. You should be able to find an apartment in the city large enough to fit everyone for about $300 per night. And if you have been saving up your hotel loyalty points, Hilton Honors and Marriott Bonvoy members are now in for a treat with multiple properties now available in or near Reykjavik.

Full-service hotels in the countryside will start at around $150 per night for a standard room and $350 per night for a family room. There are also some guesthouses that start around $150 per night per room or lower, especially in less crowded areas.

In the countryside, there is a large selection of vacation cabins available on vrbo . Expect to pay about $200+ per night for a cabin that sleeps four. Just plan in advance if you want to stay in popular locations along the south coast or by the Glacier Lagoon, as these sell out early.

If you are looking to do Iceland on a budget, renting an Airbnb or VRBO is the way to go unless you want to camp or stay in hostels, as covered above.

Total accommodation cost: assuming an average of $300 per night (if you primarily use vacation rentals) x 7 nights = $2,100

Find more places to stay in Iceland:

When visiting Iceland, if you want to get away from crowded bus tours and see the country or drive the Ring Road, you will need to rent a car. If you don’t rent a car, you will need to take a shuttle bus (about $30 per person) from Keflavik airport into downtown Reykjavik and then arrange group tours with pick up and drop off from there. Just don’t take a taxi as those can run about $150 one way between the airport and Reykjavik.

Car rentals can be pricey and you may be tempted to save money by skipping the insurance. Before you do, check with your credit card or car insurance provider because you probably still need to buy the ash and rocks coverage. Insurance can greatly increase the cost of the rental car, but you may need it.

There are plenty of budget car rentals but before you book, double-check their hours and location (how far from the airport, shuttle hours), and see the cost of add-ons so that you can compare apples to apples. (See other tips for Iceland car rentals .)

If you are visiting in the winter, you will definitely want an SUV or four-wheel drive. Otherwise, if you are sticking to the Ring Road, a four-wheel drive isn’t necessary. However, access to some hikes and activities will be on gravel roads and you will be more comfortable (and less likely to sustain damage from rocks) in a car with a higher clearance. I’ve seen a sedan get stuck on a rock in the parking lot for a hike before and people literally had to lift the car to get it off. Luckily it wasn’t totally ruined.

Also, keep in mind that to drive on the interior “F roads”, you will need a car that is allowed on those roads. Since many of those roads aren’t passable for much of the year or are extremely hard to navigate (I’ve literally seen a road sign in the middle of a field of snow), I wouldn’t bother with F roads.

The other thing to pay attention to is that you will want to make sure that your car is large enough to fit luggage for your family. Unless you are a super light packer, you will probably need checked bags for Iceland to make sure you are prepared for any weather. (See my Iceland packing list for tips!) I would recommend either a station wagon or an SUV for a family of four.

I use Auto Europe to check for the cheapest car rental rates in Iceland. Don’t forget to budget for gasoline as well (and please, if you rent a diesel car, make sure you use diesel petrol!). Currently (December 2023), gas costs about $8.82 per gallon.

If you don’t want to drive, your best bet is to stay in Reykjavik and take tours that offer pick-ups from the city as day trips. If you want to hire a private driver-guide, you should expect to pay around 120-350 per person, so at least $500-1500 for the day.

Total car rental cost: A station wagon with insurance and unlimited miles will be approximately $650-1,200 for a week. Also, add about $300 for gas if you are driving a lot.

You have probably heard that food in Iceland is expensive. If you have traveled to Scandinavian countries in the past, then you are probably used to high food prices, but for many, it can be a shock. This is especially true in the nicer restaurants in Reykjavik .

In Iceland, even a hamburger can run you $15 and most fish entrees will be closer to $30+. So dinner for a family of four can easily cost $100.

I’ve talked to many people who have felt Iceland was the most expensive place that they have traveled to when it comes to food. My advice is to splurge on one meal but keep the rest casual to keep the costs down.

You will want to try some of the specialties like Arctic char, langoustines, lamb, and if you are brave even try some reindeer or puffin. But to balance out those specialties, you can have a hearty lunch of meat soup or lobster bisque with bread. In the countryside, you can find many restaurants that offer buffets of amazing fresh, homemade food that will fill you up for hours so try to have a light breakfast, one large meal, and one lighter meal.

There is also no need to buy bottled water in Iceland as clean tap water is readily available (although it could have a bit of a sulfur smell at times), just be sure to bring along a refillable water bottle. You can also save by stopping at one of the markets, like the BONUS grocery store, and picking up supplies, especially if you are staying in a rental home or apartment.

Be sure to check out my recommendations on where to eat in Reykjavik .

Total food cost for a family of four: $200 x 7 = $1,400 (keep in mind that this can vary widely depending on if you cook and how much you splurge)

Tours and Activities

How much you spend on tours is entirely a personal preference. You can plan a private helicopter tour for over $3,000, or you can take a free hike. And just about everything in between. There are also plenty of free things to do in Reykjavik too. I would recommend trying at least a few of these unique things to do in Iceland.

Whatever you do, don’t feel like you need to take a tour for everything. You don’t. For example, you can easily do the Golden Circle and Thingvellir National Park on your own full-day road trip. But you may want to splurge on something like a glacier hike or an ATV tour that you CAN’T do on your own.

You can also forgo the touristy and expensive Blue Lagoon (if you go you need to book in advance), in favor of other hot springs around the country, like Krauma, the Sky Lagoon, the Secret Lagoon, or Fontana Spas.

There are a few things that I always recommend to clients. First, this is the land of ice and fire. Do at least one activity that takes you out onto a glacier (the ice part) such as:

• A glacier hike (minimum age 10-14 depending on provider) – see my age-based guide on things to do in Iceland with kids
• Snowmobiling on a glacier
• Ice cave trip (winter only)

Another option is to take a boat tour of the Glacier Lagoon .

For the “fire” part, I would recommend either a lava tube cave tour , a stop at the Lava Center , and/or a visit to at least one hot spring or spa.

There are so many fun things to do in Iceland. If you are adventurous, I would recommend splurging on something like a super jeep tour or ATV/buggy adventures.

I would recommend staying away from large group bus tours (e.g. Reykjavik Excursions) and instead book a small group or private tour with my partner Hidden Iceland . You can save 10% on scheduled group tours with Hidden Iceland using promo code WE3TRAVEL or for private tours, just tell them I referred you when you contact them.

If you can splurge on a few activities, here is what they would cost (based on current exchange rates):

• Secret Lagoon (2 adults, kids are free) = $47
• Into the Glacier (2 adults, 2 kids) = $727
• Lava Cave tour (2 adults, 2 kids) = $122
• Super jeep tour (2 adults, 2 kids under 11) = $1052

Total Activities Cost for 2 adults and 2 kids under 12: $1545

Total Iceland Budget: $8,545

So yes, Iceland vacation costs are high. If you look closely at the breakdowns, you can find ways to save money. You can also easily spend more. This was meant to be a guide to how much a trip to Iceland costs based on my experience helping so many families. Larger families or groups will cost more. Couples or solo travelers will be much less.

Traveling off-season will save you money (see my tips for visiting Iceland in the winter. ) You can also reduce the number of days you stay. If you stick to just one region, you can actually pack a lot into just five days, but I wouldn’t recommend staying any less.

Plan Your Iceland Trip

This article was sponsored in part by Moon Travel Guides. All opinions are my own.

Planning a trip to Iceland can make your brain hurt as you try to decipher between all of the words ending in foss (hint: that’s a waterfall), jökull (glacier), or vik (bay) and struggle with the logistics involved in mapping out an Iceland road trip. I’d recommend ordering a copy of Moon Travel Guides’ Iceland with a Road Trip on the Ring Road .

This guidebook provides options for a variety of itinerary ideas and road trips (with helpful maps!) It offers honest advice on where to eat, where to stay, and when to go, including a helpful phrasebook! Even after three visits to Iceland, I’ll be digging into this guide with up-to-date information to plan my next trip too.

Where to Go in Iceland

If you need some help deciding where to go in Iceland, be sure to check out our guides and itineraries:

• Iceland five day itinerary on the South Coast
• Four days in the Westfjords
• Day trips from Reykjavik
• Day trip to the Snaefellsnes Peninsula

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Tamara Gruber is the Founder and Publisher of We3Travel. A former marketing executive and travel advisor, Tamara is an award-winning travel writer and recognized expert in family travel. Tamara is a member of SATW and the Adventure Travel Trade Association, and serves on the Board of the Family Travel Association. She is also the publisher of YourTimetoFly.com and the co-host of the Vacation Mavens travel podcast.

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Publish Date: November 23, 2023

1 thought on “How Much Does an Iceland Trip Cost? (2024 Iceland Budget)”

We did AirBNB’s and avoided the capital. Saved us lots! Iceland was my milestone 50th country!

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My Actual Iceland Trip Cost: Detailed Budget Breakdown

Adventurous Kate contains affiliate links. If you make a purchase through these links, I will earn a commission at no extra cost to you. Thanks!

How much does an Iceland trip cost? A LOT OF MONEY! Ha. This is a famously expensive destination. But in all seriousness, Iceland gives you quite a bit of value for that money.

Recently my friend Amanda from A Dangerous Business and I took a 13-day road trip to Iceland in August 2022. This is one of the best trips I’ve taken in a very long time — but holy hell, was it expensive!

We were traveling at peak season, plus it was the biggest travel summer in three years, making it a popular time for travelers (and expensive time for both rental cars and gas).

I know it can be helpful to see what other people paid for trips to Iceland, so here’s a detailed Iceland trip budget. I hope this is helpful for you to plan your own Iceland trip!

Table of Contents

Is Iceland Expensive?

Yes, Iceland is very expensive. It’s one of the most expensive countries of the 80+ I’ve visited, up there with Sweden and Australia, though I think Norway and Switzerland are a TINY BIT more expensive than Iceland.

There are reasons for this. Iceland is an isolated island, and they have to import the vast majority of supplies. Most fresh produce is grown outside Iceland and shipped in.

And like all of the Nordic countries, Iceland has a high cost of living. It’s not as jarring for locals, who earn high salaries — thanks in part to more than 90% of Icelandic workers being part of a labor union — and having their taxes pay for healthcare, education, infrastructure, and an excellent quality of life.

The time of year has a huge impact on your costs, too. Summer travel — considered mid-May through August — is much more expensive, and for good reason. Summer is the best time to travel Iceland, as everything is open, weather is at its best, tons of tours are running, and the roads are in much better condition.

Winter can be much cheaper and far less crowded, but keep in mind it can be very cold, very dark, and you may have to deal with winter storms and road closures.

Your Iceland trip cost can be as low as $100-150 USD per day if you hitchhike and camp or stay in hostel dorms. More realistically, I think $250+ USD per day will land you a much nicer trip .

In August 2022 we spent around $400 USD for gas to drive the Ring Road in its entirety, plus a few detours like Snaefellsnes and Húsavík.

We found the cheapest non-terrible hotel rooms with shared bath to be around $82 per night , but in expensive areas like Lake Myvatn, that could be as high as $300+.

The cheapest item on restaurant or gas station menus is a hot dog, usually for around $6 USD . An entree in a restaurant is often $25-30. But the best way to save money is to buy groceries.

How I Budgeted My Iceland Trip

Tracking travel expenses is a relatively new thing for me. People have often asked me for budget breakdowns, but I haven’t kept close track until I started using YNAB (You Need a Budget) software in 2020.

Guys, YNAB is the best thing I have ever done for my finances. It literally changed my life. My finances are so much better than they used to be, and I have a much better system of budgeting for trips and saving up over time!

If you want to try YNAB, you can get a free monthlong trial through my link . (If you sign up, they’ll give me a free month of YNAB.)

During your free monthlong trial, join in YNAB’s live Zoom tutorial sessions — they have several each week. They’re super helpful. And join the YNAB Facebook group and/or subreddit. It takes a bit of time to wrap your head around, so make the effort. I promise you it’s so, so worth it.

Since I started YNAB, along with Profit First, I allocate 30% of my travel blogging revenue to operating expenses — 20% to admin and 10% to travel costs. (You can do the same by budgeting a set amount for travel per month or per paycheck.)

Over time I automatically transferred that money directly into my “General Travel” category, then the “Iceland Trip 8/22” category, and as I made expenses before and during the trip, automatically deducted from money set aside for that trip.

As soon as Amanda and I decided to do this trip, we booked flights, our rental car, all accommodation, and several activities. We kept track of Iceland costs on a Google Docs spreadsheet. After arriving in Iceland, we took turns paying for mutual expenses on the road, like gas, but paid other expenses separately, like food. We used credit cards for every single purchase.

After the trip, we went through our credit card bills and added our mutual expenses to the spreadsheet, saw who had paid more, and Venmo’d the difference. Easy!

We kept track of everything in USD, as it was easier for us to just go by our actual credit card statements than go through and convert lots of receipts.

Our Travel Style

In an expensive destination like Iceland, it’s smart to drop down a travel level . I usually stay in mid-range hotels with occasional high-end splurges, as does Amanda, but on this trip we stayed in the cheapest budget hotels with non-terrible ratings, often with shared bathrooms.

Food-wise, we mainly ate in restaurants and cafes. A few hotels included breakfast. We bought groceries for breakfast in Akureyri.

Additionally, many accommodation prices were actually charged in Euros, not Icelandic Kroner, and the Euro dropped significantly against the US dollar between when we initially booked (June 2022) and when we traveled (August 2022).

For example, our Akureyri Airbnb was set to charge us in two payments of 334.39 euros. They ended up charging us $359.17 for the first payment and $342.88 for the second payment thanks to the euro dropping.

Finally — if you’re traveling with a friend, I can’t overstate the importance of being on the same financial page. Have conversations early and often about how you want to spend your money, with specific numbers, before booking anything.

Luckily, Amanda and I were in agreement on our priorities. We cared about spending lots of money on activities and didn’t care as much about food or accommodation (save a few cool spots).

Amanda published a post about a 10-day Iceland itinerary that is definitely worth checking out!

Total Cost of Iceland Trip: $4303.11 each or $8606.21 for two

This is for two people sharing accommodation, car rental, and gas, and paying for their own activities and food.

I tracked every expense except Amanda’s airfare and food, but for cost-for-two purposes, let’s assume she spent the same amount as me on those two categories.

• Airfare: $548.20 for Kate (approximately $1096.40 for two)
• Car Rental and Ground Transportation: $2608.04 for two or $1304.02 each

Accommodation: $2371.80 for two or $1185.90 each

Food: $690.60 for kate (approximately $1381.20 for two), activities: $1,141.81 for two or $570.91 each, restrooms: $6.96 for two or $3.48 each, souvenirs: $0.

Airfare: $548.20 for me

• Flixbus, Prague Florenc to Vienna Airport: $50.98
• Vienna to Reykjavík on WizzAir: $260.14
• Reykjavík to Prague on Play: $237.08

Airfare can depend on a million different factors; this is simply what I spent flying from my home in Prague. Amanda flew from her home in Cleveland via a layover in Boston. These flight prices include checked luggage; I didn’t end up using checked luggage, so they could have been cheaper.

There are direct flights from Prague to Reykjavík on Play, but they get in at 12:30 AM and I didn’t want to deal with that (especially since that would be 2:30 AM to my Prague body — and then you have to rent a car, drive 45 minutes to Reykjavík, check into the hotel…)

Prague’s bus station is an 8-minute walk from my apartment, so sometimes I just book a flight from Vienna and take a 4.5-hour bus directly to the Vienna airport. Vienna’s WizzAir flight to Reykjavík gets in at a much more reasonable 6:30 PM, so that worked for me.

How to Make it Cheaper: It’s hard to siphon down airfare costs, but you can save by flying carry-on only or planning a trip during the winter. For cheap flights from North America, I recommend booking 3-6 months in advance as soon as you spot a good fare.

Car Rental and Ground Transportation: $2615.30 for two or $1307.65

• Car rental, 12 days: $1991.32
• Extra driver fee: $25.65
• Gas: $400.71
• Tunnels: $54.30
• Parking: $40.77
• Ferry: $102.55

Car Rental: This was our biggest expense of the trip, not least because there has been a car rental shortage since COVID began. This was the price for an automatic sedan (we got a Toyota Corolla) for 13 days. Our rental was at Europcar, right in the airport terminal; this was a priority for me, as I wanted to get out quickly and many rental companies are located a 15-20-minute drive from the airport.

Gas: We filled up gas most days and tried to fill up frequently, as gas stations are often far apart.

Tunnels: There is only one paid tunnel in Iceland, just east of Akureyri. Many people driving the Ring Road only pass through the tunnel once, but our schedule and itinerary had us going through it five times total for an average of $10.86 each time.

Parking: While free in most locations, we ultimately paid for parking at Fagradalsfjall Volcano ($7.33), Kirkjufellsfoss ($5.13), Hverir ($5.05), Skaftafell for Svartifoss ($7.26), Kvernufoss ($5.33) and Seljalandsfoss/Gljúfrabúi ($10.67).

Ferry: We took the Westman Islands ferry round-trip with our car for $102.55. We could have done it without the car for cheaper, but we both enormously appreciated how much easier having a car made things.

How To Make it Cheaper: Renting a manual car is cheaper than an automatic car, but you need to be willing to drive a manual car. Renting from an off-site car rental spot is a good option for saving a bit more. You can also plan an itinerary that doesn’t go through the tunnel five times!

• 201 Hotel in Kópavogur, near Reykjavík (1 night): $177.34
• Hamralid 9 Guesthouse in Grundarfjördur (2 nights): $185.94 for two nights or $92.97 per night
• Hvammur 2 Guesthouse near Blönduós (1 night): $82.05
• Airbnb rental in Akureyri (3 nights): $702.05 for three nights or $234.02 per night
• Sel Hotel in Myvatn (1 night): $347.06
• Lyngas Guesthouse in Egilsstadir (1 night): $146.79
• Hotel Smyrlabjörg near Jökulsárlón (1 night): $213.12
• Puffin Hotel in Vík (1 night): $277.21
• Glamping and Camping in the Westman Islands, plus linens (1 night): $93.40
• Asahraun Guesthouse near Selfoss (1 night): $146.84

As you can see, our search for budget stays led to an enormous range of accommodation costs — from $82.05 to $347.06 per night! Our average cost of accommodation was $182.45 per night.

All of our hotels offered private rooms; some had shared bathrooms. We shared a single room everywhere except the Airbnb apartment in Akureyri, which had two bedrooms.

In terms of value for money, I think that we enjoyed immense value at Asahraun Guesthouse near Selfoss, with our adorable little hobbit house, hot tub on site, and lots of cozy amenities. The shower was shared with two other houses but we had our own toilet and sink, which was great.

And Hvammur 2 Guesthouse near Blönduós was a cheap and cozy place that reminded me how hostels used to be: people hanging out, watching TV together or cooking in the kitchen. We never even got formally checked in; we just got an email with our room number and were told to enjoy ourselves!

The worst value? Sel Hotel in Myvatn, by far, at $347.06 per night for a basic twin hotel room with private bathroom and breakfast included. Yikes!

Lake Myvatn in general was shockingly expensive and super-crowded. I’ve heard you can save money by staying in Húsavík instead; it’s an hour’s drive away.

How to Make it Cheaper: These were the cheapest non-terrible hotels we could find during the peak summer months, two months before our trip. You can also stay in hostel dorms or camp for less.

Hiring a camper van sometimes ends up a bit cheaper than a budget hotel, but the difference isn’t usually significant. Don’t get a camper van to save money; only get a camper van if you want that style of trip.

• Groceries: $20.32
• Lunch Kate bought for 2 at Godafoss: $11.24
• Kate’s restaurant expenses: $674.82

Iceland is not a place you go to for the food. The food isn’t terrible, but it isn’t special, either, and I don’t think there’s much of a need to splurge.

We mainly ate at restaurants and cafes throughout our trip. Though we generally kept things cheap, we did have the occasional splurge (Gott in the Westman Islands was lovely, as was Naustið in Húsavík, and we enjoyed langoustine sandwiches at Z Bistro in Höfn). We only had a few alcoholic beverages throughout the trip: a fancy cocktail each at Gott, and I sampled a few local craft beers throughout the trip.

We bought groceries to cover our three breakfasts in Akureyri (yogurt, fruit, bread and butter).

How to Make it Cheaper: Self-cater all the way. Shopping at the grocery store is one of the easiest ways to save money in Iceland. If you do eat out, usually the cheapest thing on the menu is a hot dog, whether at a restaurant or gas station.

Activities are where we went nuts. Keep in mind that this trip was for work reasons, though. We had a lot we wanted to write about!

Paid Activities

• Thermal Baths: $427.04 for two or $213.52 each
• Tours and Activities: $541.20 for two or $270.60 each
• Museums: $155 for two or $77.50 each
• Outdoor Attractions: $18.57 for two or $9.29 each

Thermal baths included Krauma in Reykholt ($71.82 for two or $35.91 each), the Forest Lagoon in Akureyri ($87.17 for two or $43.59 each), GeoSea in Húsavík ($80.04 for two or $40.02 each), Myvatn Nature Baths in Myvatn ($86.62 for two or $43.31 each), Vök Baths in Egilsstadir ($87.17 for two or $43.59 each), and Vestmannaeyjar Swimming Pool in the Westman Islands ($14.22 for two or $7.11 each).

Tours and activities included whale watching in Húsavík ($157.02 for two or $78.51 each), horseback riding in Húsavík ($167.35 for two or $83.68 each), and a RIB boat trip in the Westman Islands ($216.83 for two or $108.42 each).

Museums included the Bjarnarhöfn Shark Museum in Bjarnarhöfn ($20.52 for two or $10.26 each), Herring Era Museum in Siglufjördur ($32.02 for two or $16.01 each), Whale Museum in Húsavík ($25.34 for two or $12.67 each — included a small discount from our whale watch), Jaja Ding Dong Eurovision Museum in Húsavík ($14.44 for two or $7.22 each), Petra’s Stone Collection in Stöðvarfjörður ($21.46 for two or $10.73 each), and Eldheimar in the Westman Islands ($41.22 for two or $20.61 each).

Outdoor attractions included Stokksnes , including Viking Village ($12.88 for two or $6.33 each), and Kerid Crater ($5.69 for two or $2.85 each).

Free Activities

And a nice thing about Iceland is that lots of outdoor activities are free!

• Hiking to the volcano (paid parking)
• Free waterfalls: Svodufoss, Bjarnarfoss, Glanni, Reykjafoss, Goðafoss, Dettifoss, Gufufoss, Folaldafoss, Nykurhylsfoss (Sveinsstekksfoss), Skógafoss, Hestavadsfoss, Gluggafoss
• Free waterfalls that charged for parking: Kirkjufellsfoss, Hundafoss/Svartifoss, Kvernufoss, Seljalandsfoss/Gljúfrabúi
• Free canyons: Rauðfeldsgjá Gorge, Kolugljúfur Canyon, Stuðlagil Canyon, Múlagljúfur Canyon, Fjaðrárgljúfur Canyon
• Free lagoons and beaches: Skarðsvík, Djúpalónssandur, Jökulsárlon, Fjallsárlón, Diamond Beach, Reynisfjara Beach
• Free outdoor sites: Saxhóll Crater, Hvitserkur, Hofsós basalt columns, Skútustaðagígar, Dimmuborgir Lava Field, Grjótagjá Cave, Hverir, Seydisfjördur Rainbow Street, Eggin í Gleðivík
• Free churches: Ingjaldshólskirkja, Búðakirkja, Stykkishólmskirkja Víðimýrikirkja, Grafarkirkja, Hofskirkja
• Free indoor sites: Akureyri Christmas House
• Free viewpoints: TOO MANY TO COUNT.

Comped Activities

As travel bloggers, Amanda and I wanted to pay for things on this trip ourselves and have full editorial freedom, rather than get free stuff and feel indebted to companies.

Still, thanks to our connections, we were kindly offered comped entry for two hot springs that we planned to cover anyway (and one I had previously covered two months earlier): the Sky Lagoon and Hvammsvik.

• Sky Lagoon : $143.82 for two or $71.91 each (Pure Package, which I think is the package most worth it)
• Hvammsvik : $100.24 for two or $50.12 each

Best Activities Overall

Almost everything we did was excellent and I would happily do again. At the same time, I understand that most travelers are going for fun, not work, and need to pick and choose their spending more carefully than we did.

For thermal baths, I absolutely adored the modern, funky Vök Baths in Egilsstadir, with the gorgeous natural facilities of Hvammsvik second. GeoSea is a great place with spectacular views on a nice day, and if you’re basing in Reykjavík, the Sky Lagoon is worth it if you include the Seven-Step Ritual.

For paid activities, one of the best things we did was our RIB boat trip in the Westman Islands . It was so fun, we immediately regretted doing the one-hour trip instead of the two-hour trip!

Also, if you want to go whale watching in Iceland, do it in Húsavík if you can, not Reykjavík. The whale watching is significantly better there, and I know too many people who saw nothing on their Reykjavík whale watches.

And for museums, I LOVED THEM ALL. But I was deeply moved by Eldheimar , which tells the story of the 1973 volcanic eruption in the Westman Islands, and the Herring Era Museum in Siglufjördur is outstanding, especially its final building. Petra’s Stone Collection was an unexpected delight.

What to skip? The only thing I would skip would be the Myvatn Nature Baths ; it felt a bit ramshackle in comparison to the other baths.

How to Make it Cheaper: Go to local swimming pools instead of fancy baths; every town has them and they’re a great option for a cultural experience (especially with kids). Go all in on free outdoor activities; you’ll always have plenty to do.

• Restroom near Hvitserkur: $3.66 (we held the door so we only had to pay once)
• Restroom at Studlagil Canyon: $1.15 each or $3.30 for two

I was going to call this category “miscellaneous,” but literally the only thing left was restrooms.

(Let me add that it’s helpful to have Apple Pay if you have an iPhone — that way you can just scan it and run in if you sprinted to the bathroom from your car and left your wallet behind. Hehehe.)

How to Make it Cheaper: Lose your shame and just pee out in the open, man.

Yes, zero! I had actually been in Iceland in May and bought a small lava sculpture for my living room (around $35) and a gift for my fiancé Charlie (around $15), but I didn’t feel the need to buy anything on this trip.

Spending is purely discretionary, but I know a lot of people who like to buy Icelandic sweaters (they’re called lopapeysa ), yarn, and jewelry.

For me, my photos are my souvenirs. These are what I truly treasure.

Travel Insurance: Already Paid For

I am not buying travel insurance anyore because I get it for free. My bank account in the Czech Republic comes with free travel insurance as long as I deposit a significant amount of cash per month. A great benefit.

If you don’t already have travel insurance — and trust me, you need it — I recommend World Nomads for most travelers , which I used for years before moving to the EU.

How to Save Money in Iceland

In such an expensive country, you want to cut costs wherever you can. Here are my top tips for saving money:

Travel in the winter (October to April). It’s a completely different experience from summer travel, which is high season, but airfare, accommodation, and car rental — three of your biggest expenses — tend to be much lower. Plus, you can see the Northern Lights.

Travel with a friend. As much as I love traveling solo in Iceland, I saved SO much money by splitting accommodation, gas, and car rental with Amanda!

Book your trip super-early. The good accommodation — especially the good CHEAP accommodation — tends to sell out first.

Spend limited or no time in the most expensive destinations. I found the most expensive destinations to be the capital city of Reykjavík, Lake Myvatn, the Golden Circle, and the South Coast. Places like Snaefellsnes and the rural north were much cheaper by comparison.

Book guesthouses with shared bathrooms. These are common in Iceland. Shared bathrooms usually lower the price of an equivalent room with ensuite bathrooms, and most of the time it’s not a nuisance whatsoever.

Consider non-hotels: hostels or Airbnb rentals. Hostels with shared dorms will always save you money; Airbnbs can go either way.

Consider camping. It’s a different kind of trip, but it’s much cheaper than staying in the cheapest hostels or guesthouses! But if you don’t already have equipment, you’ll need to pay to rent it.

Use a credit card that covers car insurance. I haven’t paid for supplemental car rental insurance ANYWHERE since I got my Chase Sapphire Preferred card. This and several other credit cards provide a car insurance benefit.

Rent a car with a manual transmission. ONLY if you can drive one and are willing to drive one in Iceland.

Consider taking the bus. You can take buses along the Ring Road, though keep in mind stops are limited and this won’t get you to most places without supplemental hitchhiking. Many public transportation routes shut down in the winter.

Consider hitchhiking. Iceland is one of VERY few countries where I would ever consider hitchhiking, as it’s extremely safe. Please do your research beforehand.

Don’t take Icelandic króna out at the ATM. In our 13-day trip, we didn’t use cash ONCE. So we always got a good rate with our credit cards, and there was no extra cash at the end of our trip! (You may want to take out a small amount — think under $50 — in case you come across any donation-only attractions.)

Pack carry-on only. It will save you luggage fees. You can book accommodation with on-site laundry halfway through your trip (which we did in Akureyri), or pack fabrics like merino wool that you can wear several times without smelling.

Self-cater your meals. Shopping at grocery stores will save you so much money over going to restaurants. Look for Bónus, the cheap grocery store chain in Iceland.

Eat at gas stations. It’s not THAT gross, I swear. Many gas stations serve decent cheap meals. This is the closest thing you have to McDonald’s in Iceland.

Get into hot dogs. Wherever you go, hot dogs are usually the cheapest thing on the menu. Often even cheaper than a little bowl of soup!

Bring a water bottle and refill it everywhere. Iceland has excellent tap water. There is zero reason to buy bottled water.

Skip the alcohol. Alcoholic drinks tend to be very expensive in Iceland. If you want something nicer to drink than water, I suggest Collab — an Icelandic soda with collagen and caffeine. It comes in several fun fruity flavors and I tried to try them all!

Spend your time visiting free natural attractions. You saw how many waterfalls and canyons and cool outdoor sites we saw, all for free!

Hike, hike, hike. You might occasionally need to pay for parking, but for the most part, you can hike for hours for free.

Go to swimming pools instead of fancy hot springs. They’re a cultural experience and super fun. And if you have kids, THIS is where you should go instead of the fancy spots.

More on Iceland:

• 35 Awesome Things to do in Reykjavík, Iceland
• Things to Know Before You Visit the Blue Lagoon, Iceland
• Why Iceland is Great for First-Time Solo Female Travelers

My Favorite Places in Iceland:

• How to Visit Kvernufoss, My Favorite Iceland Waterfall
• A Look Inside the Sky Lagoon, Iceland
• Sail Through the Sky with FlyOver Iceland
• Snorkeling Silfra: The Cold Neon Waters of Iceland
• How to Visit Studlagil Canyon, Iceland
• Visiting Stokksnes and Vestrahorn Mountain, Iceland
• Guide to the Gorgeous Tröllaskagi Peninsula, North Iceland
• Are the Vök Baths Iceland’s Best Geothermal Spa?

How much did your Iceland trip cost? Share away!

7 thoughts on “My Actual Iceland Trip Cost: Detailed Budget Breakdown”

I love a good spreadsheet! But since discovering Splitwise for traveling in groups, I haven’t looked back. You essentially do the same thing- each person enters what they spent on dinner, etc and how it should be split. The app tallies who owes what on a running basis. At the end of the trip, you settle up and can pay/receive right from venmo. Even my digital-averse travel buddy uses it- and she’s one who until a couple years ago would write me a check for what she owed after I tallied the spreadsheet… 🙄 you might totally be aware of it already but wanted to throw it out there… Thank you for all your great content- even for this “older lady”. Husband and I head to Prague on Wednesday!!!

I enjoy how your blog is in general not about budget travel. I find those blogs to be very repetitive and perhaps sometimes people could be missing the forest for the trees, or penny wise and pound foolish – although they certainly serve a certain sector.

Anywho, it completely makes sense to provide info on how to visit Iceland (or other extremely expensive places) on a budget. Because otherwise, a lot of us would simply never visit! I think this is why I have held off on Japan, Sweden, Switzerland.

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My 2018 trip to Iceland and the Faroe Islands cost about $6500 over 18 days. I traveled with a partner and things like lodging and car rental were shared expenses. But flights from the US cost a chunk, then we flew to and from the Faroe Islands and to and from Akureyri. Once we got grounded in a snowstorm and needed to book a hotel until the storm cleared, while also paying for the Airbnb for where we were supposed to go.

We did had a car for 9 days. Did a lot of self catering outside of Reykjavik. Did lots of hikes. We capped lodging at $150/night, except for a splurge at the end for 2 nights.

Activities add up quickly – snorkeling the Silfra Fissure, horseback riding, touring ice caves. And nice meals in Reykjavik do as well. They were having their annual food festival and brought in chefs from all over (Paris, New York, etc). So it was definitely worth the splurge.

I think the main takeaway from your post is to lower your expectations with meals and lodging – and try to make it work, if it’s a place you truly want to experience. That all makes perfect sense!

I’ve been thinking a lot about the Faroe Islands lately! Would love to get back there. And I agree with you. Many of the super-budget blogs are just too abstemious for my taste these days. (Not to mention the dudes who creep into their 40s and still hit on 20-year-olds in the hostel bar.)

Which Czech bank offers free travel insurance? (I live there and haven’t heard anything about this!)

Unicredit! Their top tier account. Requires 40k czk/month deposit.

This is so helpful, I’ve been worried about adding Iceland to my travel list because of the costs so it’s good to see what the required budget could be. Also really great tips on how to save overall!

Thank you for the great tips! We kind of locked into August due to school breaks but the rest of this was very helpful. We’re going to have a big group with lots of kids so saving money is important 🙂

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How Much Will an Iceland Trip Cost in 2024?

Last Updated on December 11, 2023

by Maggie Turansky

Disclaimer: This article contains affiliate links. That means if you click a link and make a purchase, we may make a small commission. As an Amazon Associate we earn from qualifying purchases. For more information, see our privacy policy.

Is Iceland expensive to visit? How much will an Iceland trip cost if you stick to a budget? A destination that is on many a traveller’s wish list, many wonder if it is even possible to plan a trip to due to a perceived notion that it is an incredibly costly country to travel to.

If you are interested in visiting this gorgeous nation, then it is essential that you’re aware of the average prices in Iceland and budget accordingly. But, in all honesty, the cost of a trip to Iceland does not have to be astronomically high.

An average trip to Iceland cost for travellers who want to vacation in Iceland is approximately $110-400 USD per person per day . This means that the cost of 7 days in Iceland is around $770 to $2,800 USD excluding airfare. You can expect prices at the lower end if travelling on a budget during shoulder seasons and at the higher end as a mid-range traveller in peak season.

Depending on your travel style and tendencies, it is possible to reduce your Iceland vacation cost a lot in some facets in order to spend more in others. If you’re looking to visit this beautiful Nordic nation on a budget and you’re wondering how much your trip will generally cost, read on to find out our best money-saving advice.

Table of Contents

Iceland Trip Cost Guide

This guide will break out the average costs of your vacation to Iceland across accommodation, transport, food, activities and entertainment, helping you understand how much is a trip to Iceland.

Accommodation Prices

An average cost for accommodation in Iceland will be approximately $40-125 per person per day in shoulder seasons or $60-200 per person per day in high season. This assumes you’re either staying in a hostel dorm bed or, otherwise, splitting the cost of hotel rooms with another person.

Hostels in Iceland will set travellers back on average $40-60 per night, will prices tending to be more expensive in the capital city of Reykjavik and during the peak tourist seasons of July and August.

You can sometimes get cheaper prices if you book in advance and it’s worth doing this if you want to stay in hostels as options are limited once you get out of Reykjavik. You can browse the best hostels in Iceland here.

If you’re travelling as a couple or with a friend, then you can get similar costs by choosing to stay in a private room in an Airbnb. Another benefit of staying in an Airbnb or hostel is they often offer self-catering facilities so you can cook your own meals and save money even further.

However, in popular places such as places like Vik and Jokulsarlon options are limited. If you’re looking for a budget hotel like Hotel Kanslarinn in Hella expect prices to begin at around $150 per night and increase to about $250 in the high season months.

If you want to go down this path, it’s worth booking as early in advance as possible as good quality places book out quickly, particularly in high season.

For those looking for a more traditional hotel route rather than wanting to stay in more budget-friendly accommodation, you’re going to have to pay a bit of a premium.

A decent, 3-star hotel in Iceland will start at around $250 per night and increase to roughly $400 per night in the high season. Expect nicer hotels to increase in price from there. Prices don’t vary too much in or out of Reykjavik.

Another popular option among budget travellers in Iceland is to hire a camper van, which kills two birds with one stone as you will also have your transport taken care of.

There are numerous camper rental companies throughout Iceland and the cheapest option for a basic manual-transmission van that sleeps two starts at around $120/day.

An auto-transmission will cost more but you can expect significant discounts to these prices if you choose to visit outside of peak seasons. Many campervans also offer heaters and camp stoves/cooking supplies which allow you to cook your own food easily.

Keep in mind, however, that it’s not possible to sleep anywhere you want in a campervan in Iceland so you will need to also factor the cost of campsites/overnight parking, particularly along the more popular South Coast .

Transport Prices

Contrary to the majority of European countries, public transportation in Iceland is lacking so the most effective and efficient way to get around this island nation is by car.

The cost of a hiring car with basic insurance included will be approximately $30-40 per person per day if splitting costs between two people. However, you can get significantly reduced pricing for basic cars if travelling in shoulder seasons.

In addition, to the cost of hiring a car, you’ll need to factor in the cost of fuel, which will increase your daily costs, as well. The average petrol price in Iceland as of December 2023 is $2.25/litre (or about $9/gallon).

If you plan to hire your own car and drive the Ring Road, there are a number of rental companies to choose from. While you may be inclined to hire a car through an internationally recognised company such as Hertz or Enterprise, often these companies charge a lot more than a local car hire company.

We, for instance, found a great deal from Reykjavik Cars which was by far the least expensive option we were able to find.

If you want to compare prices across companies we recommend browsing options here so you can see aggregate results from a number of the major car hire companies.

Another factor for your Iceland budget to keep in mind is that cars with an automatic transmission often cost considerably more than a manual. So if you can drive a manual and want to save some money, by all means, make sure you’re hiring a manual transmission.

Finally, if you do rent a car in Iceland, a great way to save money on insurance is by going through a third party such as iCarHireInsurance. They offer excess insurance (which means you won’t have to pay anything if you get in an accident) for a fraction of the cost of most car rental companies. 

If you don’t rent a car in Iceland then you’ll need to factor in additional costs such as airport transfers from Keflavik Airport . By booking in advance, you avoid having to wait in line when you arrive and can simply hop on the bus when you land. Click here to book your airport transfer to Reykjavik!

Food Prices

Another expense you will need to consider for your Iceland travel budget is the price of food. It will come as no surprise that food in Iceland is expensive, especially if you eat in a restaurant. If you choose to cook all your own meals then you can expect to spend approximately $10-15 per person per day.

The average cost of a meal at even the most budget-friendly of restaurants will probably set you back about $20-30 per person. This is why the absolute biggest Iceland food budget tip I can give would be to cook your own meals.

That isn’t to say there aren’t cheap eats in Iceland, particularly in Reykjavik, where in the capital a hot dog at the famed Bæjarins Beztu Pylsur is just a bit over $4.

Groceries are significantly cheaper than anything you could get at a restaurant so I would suggest stocking up on as many non-perishable items as you would need for the entirety of your trip while in Reykjavik.

This was something of a shock to us, but grocery prices in the capital city were about 10-15% less than those at supermarkets in the smaller towns along the Ring Road.

But if you want to shave a considerable amount off of your total trip cost I would wholeheartedly recommend cooking for yourself. If you want to incorporate one meal per day at a restaurant then you should expect that to set you back around $30 per person, meaning your average food budget in Iceland will increase to around $40 per person per day.

Activity Prices

Luckily for the budget traveller, it is very possible to visit Iceland and not spend a dime on any activities! However, if you want to splurge on at least one or two of the major activities in Iceland (such as a basic Blue Lagoon visit or an hour of horseback riding) then you should expect to spend an average of $20-25 per person per day over a one-week trip.

Most of the main natural sites in Iceland don’t charge any entry fees and even if they do, they most certainly will not break the bank. For example, I think the only attraction we had to pay to visit was the Kerið Crater Lake on the Golden Circle route and that only set us back $3 per person.

There are also plenty of hot springs that you can visit that aren’t the Blue Lagoon that may require a bit of a hike, but are free to enter.

If you’re planning on spending a bit of time in the capital city, there are a number of things you do in Reykjavik on a budget and one of the best ways to see the main sites of this charming little city is by going on a free walking tour. While these tours advertise as being free, you should always tip the guide if you have enjoyed the tour.

It is certainly possible to splash out on experiences — such as glacier climbing, whale watching, horseback riding , or SCUBA diving along the fault line — these things are not necessary in order to get the most out of your Iceland trip.

If you don’t rent a car and are unwilling to hitchhike then your only option to see the Golden Circle and other stunning natural attractions is to book a guided from Reykjavik. Some of the best options include this full-day Golden Circle tour and this full-day South Iceland tour.

These amounts aren’t included in an average Iceland vacation cost as the majority of people visiting Iceland choose to rent their own transport.

Entertainment Prices

Sometimes there is nothing better after a long day spent outside enjoying stunning natural scenery than a nice, cold beer. However, in Iceland, this is going to cost you.

Iceland has some of the most expensive liquor prices in the world and a pint of local beer at a bar can easily set you back $10-15.

The easiest remedy to this is if you intend to visit Iceland on a budget, simply abstain from drinking. However, if you do enjoy the occasional alcoholic beverages, there are ways to drink in Iceland on a budget.

One great tip is to follow the lead of the locals and stock up on your booze at the duty-free shop in the airport. These are, by far, the cheapest liquor prices you’ll find in the country as the local tax is removed. Another option is to purchase liquor at the duty-free shop at the airport you are departing from.

Reykjavik is famous for its nightlife, but keep in mind that it can be very expensive to go out. While booze prices are slightly less expensive in Reykjavik than in the rest of the country, it’s still going to be considerably more than what most people are used to paying, given that you live outside of the other Nordic countries.

All in all, alcohol prices in Iceland are incredibly expensive and if you really want to cut down on your Iceland travel cost then it’s best not to drink at all. If you want to incorporate a couple of visits to a bar during your Iceland trip, then expect to plan for around $20-30 in your Iceland budget for every night out.

Average Iceland Trip Cost

So how expensive is Iceland? Well, it isn’t a cheap destination to visit, however, it is possible to travel on an incredibly tight budget while in Iceland. For the purposes of this section, I’ve averaged all of the costs so you can have an idea of how much you might spend per day while travelling in Iceland, assuming you are splitting the costs between two.

Accommodation:  $40 – 200 / night

Transport:  $30 – 70 / day

Food:  $15 – 50 / day

Activities:  $25 – 50 / day

Entertainment:  $0 – 30 / day

Depending on your travel style, it is possible to travel to Iceland on a minimal budget. Assuming that you’re not intending to camp and hitchhike your entire trip it’s safe to assume that your Iceland trip budget will be about $110 per person per day if travelling on a budget during shoulder season and up to $400 per person per day if you’re a mid-range traveller visiting in peak season.

This does not include any pre-trip expenses such as airfare or ensuring you have the right gear for your Iceland trip.

Finally, also make sure that you factor in the cost of a travel insurance policy. World Nomads   offers flexible and simple travel insurance policies with coverage for more than 150 activities that you can buy or extend while on the road.

Another affordable option is SafetyWing which offers travel medical insurance policies. Click here to get a quote from SafetyWing.

Travelling in Iceland doesn’t have to be as expensive as you might think. If you do the proper planning and budgeting, you might find that your trip to Iceland cost can be fairly affordable even in one of the most expensive countries in the world.

Are planning a trip to Iceland? Have any questions about prices? Let us know in the comments!

Related Posts:

The Perfect 2 to 3 Days in Reykjavik Itinerary

10 Best Stops on the Reykjavik to Vik to Jokulsarlon Drive

Complete Guide to Iceland’s Golden Circle Stops (with Map!)

About Maggie Turansky

Maggie is a co-founder and writer for The World Was Here First. Originally from the US, she has lived in five different countries and has travelled to dozens more, both solo and with her partner, Michael. She particularly loves exploring Spain and spending time in the Caucasus and the Baltics. Read more about Maggie

I’m glad that one commenter mentioned the exchange rate. Looking at the most recent exchange rate, is one of the reasons I’m thinking about going this year. I would have thought that would play a significant factor in lowering the cost. How can someone from the U.S. maximize this advantage. Maybe you could explain for a newbie.

We just returned from Iceland two days ago and got the bargain of a lifetime. Since we traveled there for the first time 3-1/2 years ago Icelandair offered us a fantastic deal which we could not pass up. For $595 per person the trip included round trip airfare, three nights in a hotel (which included breakfast), a Hop On Hop Off city bus tour, a boat tour to see the Northern Lights and an afternoon at the Sky Lagoon Geothermal Lagoon. We upgraded the hotel and stayed for 6 nights and paid $953.50 per person. Granted this was 3 nights in January and 3 nights in February 2022 but was well worth the bargain!

Thanks for sharing your experience, Ginny! Seems like you had a great trip 🙂

Was there 10 days in July 2019. You can certainly get your fill of volcanic rock, a beautiful vacation though. rental of minivan, flight cost of 1400$, cost from home to Edmonton airport and back, grocery store pickups, trip to Drangey Island, full ring road with various hiking trips to the coast, 3 hot pools including Blue Lagoon, one restaurant out, and can’t remember what else. 4500$ cdn-was worth every penny!

Sounds like you had an amazing trip, Daryl!

We did Iceland for 15 days this winter 2020 , the best decision ever! Safe traveling , the island for our selves , no camping costs because they where closed .

We did this for 3600€ for the both of us and since we were influencing we worked together with a campervan company that cuts down our van cost with 1600€

That comes down to 2000€ for 15 days . All in, including flights

Thanks for sharing!!

Hi, I am planning to visit Iceland in April 2022 together with my Husband for maybe one week. Which are the places that we definitely should visit? And where should we start?

Do you have good Tips for as?

Thank you 🙂

Hi Lisku, you can find all of our information about Iceland here: https://www.theworldwasherefirst.com/iceland-travel-guide/ Hope you have a great trip!

Hi! 3 years ago I visited Iceland together with my girlfriend: The south-east coast, the ring road, glaciers, geysers, fjords and a lot of waterfalls. By that time prices were quite higher than now because of the change from USD to ISK. I would say we spent around 1000 USD each one for a one week road trip.

The trip went awesome until the moment we were travelling back to home. We boarded the plane and just some minutes before departing the captain said there was a technical issue with the plane, It was one of the the last flights of the day.

At the end the flight got delayed 7 hours and we missed our next flight at JFK (New York). The interesting fact is that because of that delay, one month later the airline gave us a compensation of $720 to each one! Doing the math we got back around 75% of what we spent in Iceland.

I definilety will go back and visit Iceland again!

Thanks for sharing, Gabriel!

Are the costs quote in USD or CAD? Thank you.

Prices are quoted in USD.

Hey! My partner and I are planning to visit Iceland for our honeymoon,from India, for a 7 days trip,can you suggest the best places to visit ,the accomodation ,and an approximate cost of the whole.

Hi Rashi, hope you’re able to have a wonderful honeymoon! You can find more of our Iceland tips and articles here: https://www.theworldwasherefirst.com/iceland-travel-guide/

I hope you went and enjoyed the trip. Could you help me with the details of the costs? Thanks

When I was in the Army my unit went to Iceland two times and I was not chosen to go, but this time I really want to make an effort to during the summer months. I would like to go through a travel agent and be in a group tour. I am a senior citizen and would like to do this trip since I never had the chance to go. Any suggestions from anyone? Thank you and God bless.

Hi Susan, thanks for your comment! As we write mostly for independent travellers, we don’t know of any multi-day tour companies in Iceland that we can recommend. However, if you base yourself in Reykjavik, you should be able to easily see what the country has to offer with a series of organised day tours. I hope you’re able to plan a great trip!

I just got back from an 8 day stay in Iceland, in March 2019. We arrived in Reykjavik. My mom and aunt wanted to do the ring road (which is risky in winter), and requires at least 7 days to enjoy the sights and not rush. we went. Then finished the trip back in Reykjavik.

We split the cost of the rental car, gas, and guesthouses, which are cheaper than hotels (three twin beds in a small room) equally.

Hostels in Reykjavik were about $40 a night and awesome at KEX hostel (old biscuit factory turned hostel with a bar / food). Met a bunch of people from all over the world!

We individually paid for food, attractions and souvenirs. I went Glacier hiking / ice cave tour which was about $170, bought some little things for co workers about $50 and food was roughly $20 a meal for one person (on the low side). My pockets weren’t tight when it came to trying real Iceland cuisine.

I caught a break on round trip airfare for about $530 from Richmond, VA to Reykjavik, Iceland with eleven hour layovers in Boston, Massachusetts each way.

After it was all said and done, my total out of pocket expense was about $2200 USD for 8 days.

I hope this gives you a better idea of how much you may spend on your trip to Iceland. Was it worth it? Absolutely, but I always love to travel. So save up, plan accordingly and have fun in Iceland!

Thanks for that insight, Jeremy!

Do they get to see the northern lights much? And wouldn’t winter be a little cheaper?

You can definitely see the Northern Lights in the winter months! And generally, pricing in the winter isn’t much different from pricing in the summer, as Iceland is generally a popular destination to visit year-round. Hope you’re able to visit soon!

Sounds great. Can I ask did you get to see the northern lights during that time period? Thanks in advance

I went there with my family last month. It is not too much expensive. We really enjoyed it. And It was an amazing experience to go there. Really worth it.

I’m glad you enjoyed your time in Iceland! It really is an amazing country. It’s definitely possible to cut costs and still completely enjoy your experience.

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• Travel Planning Guide

The Prices of Tours to Iceland

• Package Tour Options
• Typical Tour Costs
• The Best Tours
• Budget Tours
• Luxury Tours
• Three-Day Tours
• Other Types of Tours

Are group tours to Iceland worth it?

Is a group tour cheaper than solo travel to iceland.

• Group Tours vs. Indepenent Travel in Iceland

How far in advance should I book my tour to Iceland?

How many people are in group tours to iceland, how much time do i need for a group tour to iceland.

Recommended

The great round tour: around iceland in 13…, what are the package tour options in iceland.

Curious about the diverse range of tours? Prepare to be amazed by the array of options available to suit every traveler's preferences. It comes as no surprise that visitors adore these tours, given their exceptional average guest rating of 4.63 out of 5 stars. When it comes to group sizes, the average maximum capacity stands at 21 people, allowing for a comfortable and sociable experience. The shortest tour is 2 days, while the longest is 20 days. When it comes to physical activity , tour options are organized as easy, moderate, serious, and relaxing, with a majority being easy tours. For transportation , you'll find tours classified as coach / bus, self drive, and ocean cruise, with most of them being coach / bus. With a comprehensive analysis encompassing 240 tours, you can rest assured that Iceland has something tailored to your interests and preferences, promising an unforgettable experience for all.

• The length of tours range from 2 to 20 days.
• The maximum group size of tours range from 2 to 132 people.

The tour packages are also categorized as follows:

• Moderate (46)
• Serious (12)
• Relaxing (6)
• Coach / Bus (24)
• Self Drive (19)
• Ocean Cruise (3)
• Family (177)
• Tours Available 240
• Average Rating 4.63
• Average Group Size 21
• See More See Tours in Iceland

How much do organized tour packages to Iceland cost? Are tours expensive?

Analyzing the comprehensive list of available tours, you'll easily find a range of fantastic choices to suit your travel preferences. Considering the financial aspect, the average daily price for tours in Iceland stands at a highly reasonable $524 per day . Taking a broader perspective, the overall average cost of all tours amounts to $4,317 , derived from meticulous data analysis of 240 captivating tours. It's worth noting that the lowest-priced tour starts at an enticing $291, while the most extravagant option reaches a remarkable $55,995.

• Tours to Iceland range in price from $291 to $55,995, based on data from 240 tours.

How much should I pay for a tour through Iceland?

This table shows the range of guided, organized, and all-inclusive tour prices that visit, start in, or end in Iceland. If you're trying to figure out how much you should pay for an organized tour, this table breaks down the costs by price range.

(All tour prices are in US Dollars before taxes, and come from a base price that is reported by TourRadar. Peak season prices can vary significantly, particularly in destinations where seasonal travel fluctuates dramatically. Price costs can also vary by group size, amenities offered, transportation type, promotional sale prices, and addons not inlcuded in the base prices.)

Prices for the Best Tours to Iceland

What are Iceland's top rated tour packages? And how much do they cost? These tours are the highest rated tours by previous guests.

By only looking at the absolute best and highest rated tours (the top 25% by guest rating), a wide range of terrific options in Iceland are offered. Based on data from 60 tours, the average daily price for the highest-rated tours to Iceland is a very reasonable $495 per day , and the overall average total price is $4,455 . The cheapest tour is $291, and the most expensive tour is $55,995. Also, previous customers have mostly enjoyed these tours because the average guest rating is 4.96 out of 5 stars. If you're looking for a the highest-rated tour to Iceland, these are some terrific options.

What are the best tours to Iceland?

These are the highest rated tours from previous customers.

12 Days Grand Tour of Iceland

17 days self-drive | complete iceland tour, the great round tour: around iceland in 13 days, 7 day self-drive tour | geysers, glaciers and waterfalls, prices for the best budget tours to iceland.

Considering only budget-friendly tours, in Iceland you'll discover plenty of fantastic budget options. Get ready to be pleasantly surprised, as the average daily price in this category is an affordable $323 per day . Furthermore, the overall average cost of all tours stands at a reasonable $2,179 , based on data from 21 available tour options. Now, for the overall price range: the cheapest tour available comes in at a pocket-friendly $291, while the most luxurious option reaches a maximum of $4,975. What's more, visitors can rest assured that these tours are well liked, as they boast an impressive average guest rating of 4.51 out of 5 stars. So, get ready to explore Iceland and embark on an unforgettable journey that will make the memories of a lifetime.

What are the best budget tours to Iceland?

6 day - iceland ring road small-group tour, iceland group overland tour, iceland explorer, prices for the best luxury tours to iceland.

By only looking at the luxury and comfort category of tours, visitors will find a wide range of terrific options when choosing a tour to Iceland. The average daily price for luxury tours to Iceland is a very reasonable $460 per day , with the overall average cost of all tours being $3,840 (based on data from 166 tours). The cheapest tour is $410, and the most expensive tour is $55,995. Also, visitors tend to love all of these tours because the average guest rating is 4.66 out of 5 stars.

What are the best luxury tours to Iceland?

Prices for the best 3-days or less tours to iceland.

By only looking at the shortest 3-days or less tours, perfect for a quick getaway, the array of tour options available in Iceland is diverse. The average daily price for 3-day tours stands at a very reasonable $550 per day . Drawing from an extensive analysis of 25 tours, we've determined that the overall average cost of all tours is a modest $1,531 . It's worth noting that among these options, the cheapest tour can be enjoyed for as little as $291 per person, while those looking to splurge a bit more can opt for the most expensive tour at $4,266. The popularity of these tours speaks volumes, with an average guest rating of 4.38 out of 5 stars, showcasing the satisfaction and appreciation expressed by previous customers.

What are the best 3-days or shorter tours to Iceland?

3 day south iceland tour - private tour, iceland overnight adventure - 2 days, 3 day winter package with golden circle, south coast &…, 3 days golden circle, south coast and jökulsárlón glacier lagoon…, prices for family tours to iceland.

For this specific type of tour, Iceland has you covered with an array of fantastic options. You'll be thrilled to know that the average daily price for family tours is a very economical $530 per day . Looking at the bigger picture, the overall average cost of all tours comes in at a reasonable $4,381 , based on data from 177 incredible options. The cheapest tour available is a great deal at just $291, while the most lavish option reaches up to $55,995. Rest assured, these tours have captured the hearts of visitors, as they boast an impressive average guest rating of 4.62 out of 5 stars. So, get ready to explore Iceland and its amazing destination, and prepare for an unforgettable journey filled with awe-inspiring experiences.

What are the best family tours to Iceland?

Prices for northern lights tours to iceland.

Looking at this type of tour, a wide range of terrific options in Iceland are offered. Based on data from 51 tours, the average daily price for northern lights tours to Iceland is a very reasonable $489 per day , and the overall average total price is $3,592 . The cheapest tour is $868, and the most expensive tour is $12,685. Also, previous customers have mostly enjoyed these tours because the average guest rating is 4.7 out of 5 stars. If you're looking for a northern lights tour to Iceland, these are some terrific options.

What are the best northern lights tours to Iceland?

8 days northern lights exploration – small group, 7 days self-drive | golden circle, south coast, snæfellsnes and…, prices for active adventure tours to iceland.

Considering these specific tours, Iceland has you covered with an array of fantastic options. You'll be thrilled to know that the average daily price for active adventure tours is a very economical $434 per day . Looking at the bigger picture, the overall average cost of all tours comes in at a reasonable $3,391 , based on data from 48 incredible options. The cheapest tour available is a great deal at just $331, while the most lavish option reaches up to $18,287. Rest assured, these tours have captured the hearts of visitors, as they boast an impressive average guest rating of 4.57 out of 5 stars. So, get ready to explore Iceland and its amazing destination, and prepare for an unforgettable journey filled with awe-inspiring experiences.

What are the best active adventure tours to Iceland?

Iceland complete: around iceland in 10 days, prices for hiking & trekking tours to iceland.

For this specific type of tour, the array of tour options available in Iceland is diverse. The average daily price for hiking & trekking tours stands at a very reasonable $412 per day . Drawing from an extensive analysis of 28 tours, we've determined that the overall average cost of all tours is a modest $2,792 . It's worth noting that among these options, the cheapest tour can be enjoyed for as little as $899 per person, while those looking to splurge a bit more can opt for the most expensive tour at $9,499. The popularity of these tours speaks volumes, with an average guest rating of 4.45 out of 5 stars, showcasing the satisfaction and appreciation expressed by previous customers.

What are the best hiking & trekking tours to Iceland?

Ultimate iceland adventure, the volcanic trails, prices for in-depth cultural tours to iceland.

When analyzing this category of tours, visitors will find a wide range of terrific options when choosing a tour to Iceland. The average daily price for in-depth cultural tours to Iceland is a very reasonable $433 per day , with the overall average cost of all tours being $3,739 (based on data from 26 tours). The cheapest tour is $868, and the most expensive tour is $8,826. Also, visitors tend to love all of these tours because the average guest rating is 4.66 out of 5 stars.

What are the best in-depth cultural tours to Iceland?

Prices for coach / bus tours to iceland.

Looking at this type of tour, Iceland has you covered with an array of fantastic options. You'll be thrilled to know that the average daily price for coach / bus tours is a very economical $423 per day . Looking at the bigger picture, the overall average cost of all tours comes in at a reasonable $3,141 , based on data from 24 incredible options. The cheapest tour available is a great deal at just $868, while the most lavish option reaches up to $8,826. Rest assured, these tours have captured the hearts of visitors, as they boast an impressive average guest rating of 4.58 out of 5 stars. So, get ready to explore Iceland and its amazing destination, and prepare for an unforgettable journey filled with awe-inspiring experiences.

What are the best coach / bus tours to Iceland?

Iceland including the blue lagoon (summer, 6 days), natural wonders of iceland (small groups, 9 days), prices for self drive tours to iceland.

Considering these specific tours, the array of tour options available in Iceland is diverse. The average daily price for self drive tours stands at a very reasonable $428 per day . Drawing from an extensive analysis of 19 tours, we've determined that the overall average cost of all tours is a modest $5,123 . It's worth noting that among these options, the cheapest tour can be enjoyed for as little as $1,067 per person, while those looking to splurge a bit more can opt for the most expensive tour at $55,995. The popularity of these tours speaks volumes, with an average guest rating of 4.86 out of 5 stars, showcasing the satisfaction and appreciation expressed by previous customers.

What are the best self drive tours to Iceland?

Prices for sightseeing tours to iceland.

When we look at this type of tour, a wide range of terrific options in Iceland are offered. Based on data from 14 tours, the average daily price for sightseeing tours to Iceland is a very reasonable $511 per day , and the overall average total price is $4,020 . The cheapest tour is $868, and the most expensive tour is $9,499. Also, previous customers have mostly enjoyed these tours because the average guest rating is 4.51 out of 5 stars. If you're looking for a sightseeing tour to Iceland, these are some terrific options.

What are the best sightseeing tours to Iceland?

Icelandic adventure (2025), prices for discovery tours to iceland.

For these tours, Iceland has you covered with an array of fantastic options. You'll be thrilled to know that the average daily price for discovery tours is a very economical $408 per day . Looking at the bigger picture, the overall average cost of all tours comes in at a reasonable $3,556 , based on data from 11 incredible options. The cheapest tour available is a great deal at just $1,565, while the most lavish option reaches up to $5,999. Rest assured, these tours have captured the hearts of visitors, as they boast an impressive average guest rating of 5 out of 5 stars. So, get ready to explore Iceland and its amazing destination, and prepare for an unforgettable journey filled with awe-inspiring experiences.

What are the best discovery tours to Iceland?

Prices for historical tours to iceland.

When analyzing this category of tours, in Iceland you'll discover plenty of fantastic historical options. Get ready to be pleasantly surprised, as the average daily price in this category is an affordable $497 per day . Furthermore, the overall average cost of all tours stands at a reasonable $3,723 , based on data from 10 available tour options. Now, for the overall price range: the cheapest tour available comes in at a pocket-friendly $692, while the most luxurious option reaches a maximum of $7,526. What's more, visitors can rest assured that these tours are well liked, as they boast an impressive average guest rating of 4.98 out of 5 stars. So, get ready to explore Iceland and embark on an unforgettable journey that will make the memories of a lifetime.

What are the best historical tours to Iceland?

Iceland including the blue lagoon (winter, 6 days), delve deep: iceland , prices for mountain hikes tours to iceland.

Looking at this type of tour, the array of tour options available in Iceland is diverse. The average daily price for mountain hikes tours stands at a very reasonable $397 per day . Drawing from an extensive analysis of 7 tours, we've determined that the overall average cost of all tours is a modest $2,122 . It's worth noting that among these options, the cheapest tour can be enjoyed for as little as $1,086 per person, while those looking to splurge a bit more can opt for the most expensive tour at $2,837. The popularity of these tours speaks volumes, with an average guest rating of 4.12 out of 5 stars, showcasing the satisfaction and appreciation expressed by previous customers.

What are the best mountain hikes tours to Iceland?

5-day laugavegur trek in huts, laugavegur & fimmvörðuháls trek - 6 day tour (huts), prices for arctic tours to iceland.

Considering these specific tours, visitors will find a wide range of terrific options when choosing a tour to Iceland. The average daily price for arctic tours to Iceland is a very reasonable $401 per day , with the overall average cost of all tours being $3,022 (based on data from 4 tours). The cheapest tour is $1,609, and the most expensive tour is $5,999. Also, visitors tend to love all of these tours because the average guest rating is 4.4 out of 5 stars.

What are the best arctic tours to Iceland?

8 day around iceland winter minibus tour, prices for active tours to iceland.

When we look at this type of tour, Iceland has you covered with an array of fantastic options. You'll be thrilled to know that the average daily price for active tours is a very economical $1,484 per day . Looking at the bigger picture, the overall average cost of all tours comes in at a reasonable $6,712 , based on data from 4 incredible options. The cheapest tour available is a great deal at just $4,266, while the most lavish option reaches up to $13,347. Rest assured, these tours have captured the hearts of visitors, as they boast an impressive average guest rating of 0 out of 5 stars. So, get ready to explore Iceland and its amazing destination, and prepare for an unforgettable journey filled with awe-inspiring experiences.

What are the best active tours to Iceland?

3 days private super jeep tour | landmannalaugar, golden circle…, tailor-made private trip to iceland.

Although planning an independent trip is feasible in Iceland, the details of the logistics and the potential complexities of transportation usually make booking a tour here an appealing alternative. With these factors in mind, most travelers discover that the expense of a tour in Iceland is a wise investment. Delegating the details of transportation, accommodations, activities, and dining to professionals guarantees a hassle-free experience, freeing you up to fully immerse yourself in the trip so you can relax.

You can find many situations where tours in Iceland are more cost-effective compared to an independently planned trip. The affordability of a tour depends on factors such as the destinations covered, level of luxury, and duration. Each tour and independent trip is unique, but tour providers often offer competitive prices that match the luxury level of an independent trip with the same amenities. On average, a tour in Iceland costs $524 per day, with many tours priced below this average, although some are higher. Prices for tours in Iceland range from $291 to $55,995. When comparing costs with independent travel, it's important to consider that guided tours typically include accommodations, transportation, guides, meals, tickets, and even more. To accurately compare prices, it is essential to understand the inclusions of a tour package and thoroughly research the costs of independent travel in Iceland.

Group Tours vs. Independent Travel in Iceland

For many travelers, it is a hard decision whether to travel with an organized tour package or to plan a trip independently. Organized tour packages are a great way to travel in Iceland in 2024 or 2025 because a variety of great deals and sales are now available. Also, because guided tours tend to be all-inclusive, they will provide great values on accommodations, transportation, entry tickets, food, and other travel necessities. You'll also have the benefits of knowledgable guides as well as the peace of mind that you don't have to plan out the entire trip. On the other hand, traveling independently provides more flexibility and control over your travel plans instead of the fixed schedule of a tour package. You can shift your schedule and budget around as needed. Also, it's easier to get closer to local cultures and visit those harder to reach destinations that tours usually don't visit.

What are the benefits of a package tour to Iceland?

Traveling with a tour provides a multitude of advantages. One of the most significant benefits is the convenience of having all the details sorted out for you. From arranging transportation to securing accommodations and planning activities, everything is taken care of, allowing you to have a worry-free experience. This means you won't have to stress about finding suitable places to stay, figuring out logistics, or potentially missing out on any important sights. Additionally, most tours offer all-inclusive pricing, giving you a clear understanding of the total cost of your trip before you depart. The beneifits of a tour are

• knowledgeable guides
• comfortable amenities
• not having to plan
• reliable service and schedule
• fixed budget
• meeting other like-minded travelers
• eliminating risks

What are the benefits of independent travel in Iceland?

The advantages of independent travel include freedom, control, and flexibility. When you travel independently, you have the freedom to decide where to stay, which attractions to visit, when and where to eat, and how to navigate the destination. Taking charge of these choices also gives you greater control over your budget, schedule, itinerary, and the level of luxury you desire during your trip. Other benefits include:

• in-depth cultural opportunities
• off-the-beaten-path destinations
• flexible schedules
• flexible budget

To ensure your spot on the tour to Iceland, it is recommended to plan and book well in advance, preferably a few months or more prior to the departure date. While it is not uncommon for many people to reserve their tours up to a year ahead, our experience indicates that booking around 6 to 9 months in advance is typically adequate. It is essential to consider that numerous tours get fully booked ahead of time, so early booking guarantees your place on the trip. Moreover, booking early can result in significant cost savings, as tour companies often offer early booking sales and discounted prices. However, it is important to be aware that some tour companies may occasionally offer last-minute discounts for tours that are not fully booked. Nevertheless, waiting for last-minute discounts entails the risk of missing out on a spot if the tour reaches full capacity.

When it comes to tours in Iceland, group sizes can range from as small as 2 to as large as 132 people, with an average group size of 21. Nevertheless, it's worth mentioning that the size of the tour does not necessarily correlate with its cost or overall experience.

Most organized tour packages to Iceland typically last around 7 days, although the duration can vary. Tours can range from 2 to 20 days, or even longer. It is important to note that longer tours may be more expensive initially, but their cost per day tends to decrease. Additionally, longer tours offer the opportunity to visit multiple destinations at a comfortable pace, making them a worthwhile investment.

Where do group tours go in Iceland?

Iceland offers an abundance of tours that venture into different parts of the country, allowing you to explore a multitude of locations. Some of the top attractions you can expect to visit on these tours include Reykjavik, Vik, Akureyri, Borgarnes, Keflavik, Hofn, Kirkjubaejarklaustur, and Reykholt, ensuring a captivating and diverse experience.

What tour and travel companies offer packages to Iceland?

Plenty of companies are offering package tours to and around Iceland, but not all of them are the same. Some of the companies are large international operators that have solid reputations. Other companies are smaller and offer more unique and locally-based insights into the country. With larger companies, tours are rarely cancelled and customer service is generally high. With smaller companies, you're more likely to have a trip that gives you more local and personable experiences.

The companies offering the most tours in Iceland are Marina Travel , Arctic Adventures , Iceland Travel , On The Go Tours , and GJ Travel . All of them tend to offer quality trips with high guest ratings.

What is the best tour company offering trips to Iceland?

When it comes to tours in Iceland, Travelling Iceland takes the top spot with their highly-rated tour packages. Their dedication to quality service and captivating journeys has won them plenty of accolades from previous guests.

More Information

See also The Best Family-Friendly Tours to Iceland , The Best Wildlife Tours to Iceland , The Best Hiking & Trekking Tours in Iceland , The Best Historical Tours in Iceland , The Best 10-Day Tours in Iceland , The Best One Week (7-Day) Tours in Iceland , The Best 3-Day Tours in Iceland , Tours for Outdoor and Nature Lovers in Iceland , The Best Christmas & New Years Tours in Iceland , The Best Coach Bus Tours in Iceland , The Best Adventure Tours to Iceland , The Best Eco Tours in Iceland , The Best Sightseeing Tours in Iceland , The Best Cultural Tours in Iceland , The Best Romantic Tours for Couples in Iceland , The Best Self Drive Tours in Iceland , The Best Polar Tours & Cruises in Iceland , The Best Northern Lights Tours in Iceland , The Best Luxury Tours to Iceland , The Best Budget Tours to Iceland , The Best Tours for Seniors to Iceland , or The Best G Adventures Tours to Iceland for more tour ideas. With so many options, there's a guided tour or vacation package for every type of traveler.

Also, if you're departing from a specific destination, see The Best 3-Day Tours from Reykjavik , The Best One-Week (7-Day) Tours from Reykjavik , The Best One-Week (7-Day) Tours from Keflavik , The Best 10-Day Tours from Reykjavik , The Best 10-Day Tours from Keflavik , The Best 2-Week Tours from Reykjavik , or The Best 2-Week Tours from Keflavik for more package tour options.

And for more information on Iceland, see Iceland Travel Costs and Iceland Hotel Costs .

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Learn how to easily plan your dream trip to Iceland with helpful guides and tips!

Prices in Iceland: How To Figure Out Your Iceland Trip Cost

August 16, 2021 //  by  Iceland Trippers //   8 Comments

The prices in Iceland are notoriously high. From food, to rental cars, to gas, many aspects of your trip will cost you a pretty penny. Iceland is becoming a more and more popular tourist destination by the year, and with the stunning natural beauty the country has to offer, it’s easy to see why.

On top of the beauty which awaits you upon arrival, the airlines draw you in with great deals on airfare and the whole trip becomes irresistible. Icelandair allows free stopovers in Iceland from the US to the rest of Europe, and back when Wow Air was in business, there was always an affordable flight option.

But the cost of actually staying in Iceland might come as a shock to you if you don’t know any better. The country is beautiful and worthy of all the recent attention it’s been getting, but be prepared to spend some serious money while you’re there.

There are a lot of components that will factor into your total Iceland trip cost, so spend some time thinking about how you want to tackle each one. This guide is here to help you know what you’re getting into ahead of time, and give you the opportunity to plan accordingly and potentially cut back on expenses where it makes sense.

Iceland is a unique country full of thundering waterfalls, relaxing hot springs, and many other natural wonders you’ve only dreamed about. The experiences are worth the money poured into the trip, and hopefully, with some careful planning, you can have these experiences without breaking the bank.

Get a FREE printable “Hidden Gems In Iceland” E-book by joining our private  Iceland Facebook Group  and share your photos and ask for tips and tricks.

Table of Contents

Average Iceland Accommodation Prices

The least expensive accommodation option (besides camping) will be staying at a hostel. Some hostels offer both private rooms and dormitory-style rooms, while others only offer dormitory-style. The nicer hostels usually include a café, bar and lounge area. The website Hotels.com  is a great resource for choosing the hostel that’s best for you.

On average, Reykjavik has the most expensive hostel rates, but the rates outside the capital region are not significantly lower. Some of the hostels also offer free cancelation rates as well as non-refundable rates.

The non-refundable rates can be as much as $45 less on the private rooms and $10 less on the dorm rooms. The rates at the hostels don’t vary much throughout the year.

The off-season can occasionally bring slightly lower prices, but it’s not guaranteed. As more tourists flock to the country in the winter for the Northern Lights though, the off-season is becoming shorter in Iceland. Below are some average rates to give you a sense of what you might be paying.

Here are examples of the cost of accommodations in Iceland

• Standard Double Bed Private: $212-$239/room
• 4 Bed Private: $271-$311/room
• 8 Bed Mixed Dorm: $41-$46/person
• 6 Bed Mixed Dorm: $40-$61/person
• 4 Bed Mixed Dorm: $57-$67/person
• 6 Bed Female Dorm: $40-$61/person

Hotel prices in Iceland are steep. On top of that, you’re offered far less for what you’re paying than you would at a high end US resort. Though Iceland certainly has some nice hotels, most of the hotel options, particularly outside of Reykjavik, will be pretty basic. There’s no shortage of hotels in the Reykjavik area , and more hotels are being built both in the capital and throughout the rest of the country.

Iceland offers varying price ranges for hotels from luxury and boutique to budget, with some of the more recent luxury hotels being built at the famous Blue Lagoon. There is an 11% VAT on the total hotel cost and a $3 per night city tax when staying in Reykjavik.

Check out www.booking.com  to find exact prices and more detailed information on the accommodations. Below we’ve laid out a general breakdown for the cost per room of a hotel in each price category. 

Boutique and Luxury Hotel Prices in Iceland :

• Standard Single Room $340-$425
• Standard Double or Twin Room $426-$550
• Superior Double Room $489-$625
• Junior Suite $677-$1146
• Suite $766-$1548

Budget Hotels:

• Standard Single Room $138-$220
• Standard Double or Twin Room $146-$362
• Superior Double or Twin Room $175-$407

Airbnbs are another possible accommodation in Iceland. They are usually a little less expensive than a hotel, but not always. There are plenty of Airbnb options in Reykjavik.

Outside of Reykjavik, the Airbnb prices in Iceland tend to be lower, and there also aren’t as many options. In the capital though, people will controversially buy apartments with the sole purpose of converting them into Airbnbs, so there’s an apartment shortage for residents of Iceland, but there are a lot of Airbnbs.

Experience Iceland like a local by staying at an Airbnb!  Get a  FREE $55 Airbnb coupon  by using  our code  when you book! 

The two options for Airbnb’s are having a private room in a shared house or apartment, or paying to stay in the entire apartment (the number of beds varies). Below are some average Airbnb prices around Reykjavik.

These are just the base prices though. Be sure to check the final price because things like the service fee and cleaning fee are added to the base price, and have the potential to significantly increase the total price.

Average cost of Airbnb in Iceland

• Entire apartment (2 beds)  $150-$300
• Entire apartment (1 bed) $100- $212
• Private Room $40-$90

Cost Of Renting A Car In Iceland

Rental car prices in Iceland are high, but if you want to explore Iceland’s natural beauty on your own terms, a car is essential. You are going to want to factor this into your Iceland trip cost!

For many people, this is the ideal option for getting around the country. Auto Europe is a wonderful website for comparing rental car prices in Iceland based on the company you’re renting from, and the size of the car (or whether it’s 4WD).

Before renting a car in Iceland you’ll need to choose between 4×4 or 2×2, manual or automatic, and the size of the car. Renting a 2×2 will reduce your Iceland trip cost, however, some of the roads in Iceland require 4×4’s, so it’ll limit what you’re able to explore.

You definitely cannot drive 2×2’s on Iceland’s F roads. Though 4×4’s will give you the freedom to drive just about anywhere, it is possible to see much of Iceland, including many of its most stunning natural wonders, in a 2×2.

Unlike in the United States, many of the rental cars are manual. If you don’t know how to drive a manual car, double-check to make sure your rental car is automatic! You’ll also have to decide whether you want additional insurance.

In most countries, it’s unnecessary, but some of the F roads in Iceland can be extremely rough so it’s something to consider. Here are some examples of the l east expensive rental car prices in Iceland per day and per week.

• 2 wheel drive compact manual: $63/day or $232/wk
• 2 wheel drive compact automatic: $93/day or $346/wk
• 2 wheel drive midsize manual: $83/day or $307/wk
• 2 wheel drive midsize automatic: $93/day or $346/wk
• 4 wheel drive SUV manual: $187/day or $625/wk
• 4 wheel drive SUV automatic: $232/day or $768/wk

Price Of Campervans In Iceland

Combining your transportation and accommodation into one with a campervan has the potential to bring down your Iceland trip cost. Having a campervan is the ultimate way to take your trip into your own hands and camping in Iceland is a great way to save!

You can eat, sleep, and adventure whenever you want, increasing your general efficiency. Campervans come in 4X2 and 4×4 as well as both automatic and manual. Especially if you’re visiting in the summer, you’ll want to rent your van well in advance particularly if you want a manual vehicle.

Also, not all campervans have heaters, so take note of that if you’ll be traveling in Iceland in the winter. Iceland has many campsites around the country both for tent camping and campervans.

You can pay at each campsite for roughly $8-$12 a person, or you can buy an Iceland camper card giving you access to roughly 40 different campsites around the country. One card costs $177 and covers 2 adults and up to 4 children. Most campsites are closed though during the winter.

There are many different campervan companies in Iceland, and the number of companies keeps increasing as the tourist population surges. There are some things to consider when choosing a company and evaluating their prices. Some of these things we mentioned above such as 4×2 or 4×4, manual or automatic, or whether it has heaters or not for more comfortable sleeping conditions. You should also check whether additional insurance is included in the price.

Some companies also require you to book the van for at least 4 days. The top campervan companies include Happy Campers , Go Campers , Campervan Iceland , Camper Rental Iceland , and Camp Easy .

It’s difficult to compare prices between companies because every company’s vans offer different things. However, here is a rough breakdown of average prices per day by number of seats.

These are the prices during high season. Low-season will be less expensive but the roads are less accessible and the campsites are closed.

• 2 seater (sleeps 2): $91-$208/day 
• 3 seater (sleeps 3): $214 -$392/day
• 4 seater (sleeps 2): $224-$402/day
• 4 seater (sleeps 4) $279-$387/day
• 5 seater (sleeps 5): $288-$336/day

Average Grocery Prices In Iceland

When it comes to food, the best way to lower your Iceland trip cost is by shopping at the supermarket and cooking your own food. This is our favorite way to cut down on the cost of our Iceland itinerary!

The average grocery store prices in Iceland tend to be more expensive than other countries because as an island nation up near the Arctic Circle, the country has to import many of its products. This results in higher prices and sometimes less selection.

For example, there are far fewer fruit options available in Iceland than there would be at a US grocery store. Besides a few different types of small berries such as blueberries and crowberries, most fruit does not grow in Iceland’s climate.

However, even things like lamb and fish that are found in abundance in Iceland and are big staples of Icelandic cuisine, are still relatively expensive. Some basic food items such as bread, rice, and pasta, are actually fairly affordable as long as you shop at the more reasonably priced grocery stores.

There are many options for grocery shopping in Iceland . Bonus is the least expensive grocery store. You’ll see these yellow stores with a pig as their logo all around the capital region. They are great shopping options, but it should be noted that they have limited opening hours, usually not opening until 11 am and closing around 6:30 pm. Another low-cost option is Netto.

Netto prices are not much higher than Bonus, and they have longer opening hours. Some are even open 24 hours. Kronan is another popular option, but its prices are more expensive than Bonus or Netto.

Kronan stores are usually open from around 10 am-9 pm. Finally, Hagkaup is the most expensive grocery store to shop in, but it has the best selection and many of the locations are open 24 hours. There are many other grocery store options in Iceland, but these listed above are the most common.

Your best bet for keeping your cost of groceries to a minimum is buying everything you can at a Bonus in Reykjavik and only stopping at grocery stores on the road if it’s absolutely necessary. The further you get from the city, the fewer grocery store options there are and the higher likelihood you’ll be paying more.

There are also small selections of grocery items at many of the gas station stores if you are in need of a quick food source/snack. Here are some average prices in Iceland as of December 2018 for frequently bought food items.

• 500 grams Butter $3.87
• 1/2 liter Heavy Cream $4.29
• 500 grams Sliced cheese for putting on bread $5.71
• 150 grams Brie $3.97
• 1 liter Whole Milk $1.23
• 1 liter Reduced Fat Milk $1.23
• 1/2 liter Yoghurt with fruit $2.68
• 500 grams Ground beef $6.46
• 700 grams Chicken breast (fresh) $10.73
• 200 grams Sliced ham $4.45
• 1 kilogram Whole Wheat Sandwich Bread $2.41
• 500 grams Spaghetti $0.73
• 1 kilogram White Rice $1.45
• 1 kilogram Potatoes $2.41
• 800 grams Bananas $1.22
• Carrots 500 grams $2.90
• 1 liter Orange Juice, 100% juice $1.60 

Average Gas Prices In Iceland

When you look at gas prices in Iceland, the number refers to the price per liter. For reference, one gallon is equal to 3.78 liters. For those of you with Costco memberships, Costco will be your least expensive gas option.

Costco cards work all around the world, so even though your membership may not be from the location in Iceland, it will work at the gas pump. Just ask the employee at the pumps, and they’ll swipe their card allowing you access to the pump.

The catch is, there’s only one Costco in all of Iceland (it’s located on the outskirts of Reykjavik, in the town of Gardabaer), so if you’re far from Reykjavik, Costco gas won’t be an option.

Iceland has a lot of different options for alternative gas stations including N1, Orkan, OB, Olis, and AO. If you’re looking for gas station prices, locations across the country or the closest location to you, the website https://gasvaktin.is  is a great resource.

The gas prices in Iceland are expensive, even at Costco. You should expect to pay roughly $90-$100 dollars to fill up the tank of a 4×4 rental car and around $70-80 for the tank of an economy 2×2 car.

Sometimes you can plan ahead and use the website above to choose the least expensive options. But the further you drive out into the small remote towns of the country, the fewer options you have, and at some point, you’ll just be thankful there’s any gas station at all.

With all the natural beauty Iceland has to offer, it’s impossible to experience the best of the country without driving around. It’s inevitable that you will have to fill up your car throughout your trip, and the least expensive gas station won’t always be available. As you drive out into the country, it’s not worth the risk of running out of gas in an attempt to find a cheaper station.

Average Tour Prices In Iceland

Paying to go on tours can be a great way to see all that Iceland has to offer. Everything is planned out for you and you have knowledgeable tour guides providing you with valuable information about the country and what you are seeing.

Tour prices in Iceland are not inexpensive. However, if you choose to only go on tours and not rent a car, you can potentially reduce your Iceland trip cost. Tours can also be ideal for people of all ages. The tour buses that stop at different sites usually stop at easily accessible locations.

Some of the most popular tours in Iceland are Northern Lights tours , whale-watching tours , Golden Circle tours , South Coast tours , and Icelandic horse riding tours . The Northern Lights tours can be particularly helpful since the lights have a tendency to be elusive.

Though there are ways for you to track the strength of the lights yourself, having a tour guide who chases the lights for a living can be useful. The tour companies will also give you a chance to take the tour again for free if you don’t end up seeing the lights the first time around.

There are many different tour options in Iceland. Here’s a list of average tour prices based on the activity or location. You can also book combination tours such as The Golden Circle with the Blue Lagoon admission included, or the South Coast with a glacier hike. These, of course, will be more expensive.

• Golden Circle $47-$90
• Northern Lights $81-$138
• Horseback Riding $99-$184
• Whale-watching $81-$89
• South Coast $110-$194

If you are looking to NOT rent a car and just want to do tours while in Iceland, it may be better to book a multi-day tour! A Multi-Day tour allows you to save money and time on planning while still getting to see and experience the fantastic Icelandic landscapes!

Suggested Multi-Day Tours Of Iceland:

5 Day Winter Tour Of Iceland: Golden Circle, South Coast, Ice Cave

3 Day Golden Circle, Glacier Hike, Ice Cave, Northern Light Tour Of Iceland

2 Day Guided Iceland South Coast Adventure

3 Day Relaxation and Exploration Tour Of Iceland From Reykjavik 

2 Day Jökulsárlón, Glacier Hike + DC-3 Plane Wreck Tour In Iceland

Fast Food Prices In Iceland

Iceland has a number of fast-food options from salads to gas station hot dogs Icelandic style, to burritos. They also have fast-food locations that Americans will be familiar with such as Metro (their equivalent of McDonald’s), KFC, Subway, and Quiznos (though Iceland’s Quiznos offers delicious lamb sandwiches as well that are unique to Iceland).

Some of these locations have healthy options, many are delicious, and they can be particularly convenient for grabbing something quick when you’re on the road all day driving around the country. Though eating at fast food places is a less expensive alternative to going out to a restaurant, we have to warn you that the fast-food prices in Iceland are not cheap compared to the US.

Serrano, which is a semi-close equivalent to a Chipotle, sells burritos for roughly $12.50-$14.50.   In contrast, Chipotle is around $7-$8 for comparable burritos. The Icelandic hot dogs are famous. The hot dogs made of lamb meat, are topped with crispy and raw onion, sweet mustard, ketchup, and remoulade.

The Bæjarins Beztu food truck location downtown drew additional attention after a 2004 visit from President Clinton. They cost $2.83 at the gas stations, but at the Bæjarins Beztu trucks, it’ll cost $3.80. Even a salad (though the portions are solid-sized) costs $16-$19. At the Subway’s in Iceland, a footlong tuna sandwich will cost $12.23, while the exact same Subway sandwich in the US costs $7.25. As you can see, the prices in Iceland for fast food are consistently more expensive.

Average Restaurant Prices In Iceland

Restaurants in Iceland vary in price, but at nice restaurants downtown, any meat or fish dish is going to cost a lot.

Apotek Kitchen, Tapas Barrin and Brasserrie Askur are prime examples of average restaurant prices in Iceland. We never recommend going out to eat if you are looking to keep your Iceland trip cost down!

The cost of entrees at Askur ranges from roughly $24-$46 with the cheapest price being for vegetable pasta and the most expensive price being for beef tenderloin.

Similarly, the entrees at Apotek Kitchen range from $31-$52. At Tapas Barrin, single meat or seafood tapas can cost anywhere from $16-$32 with the vegetarian tapas ranging around $16-$19. People order about 3 tapas per person on average. And these prices are all assuming you don’t add any alcohol to the bill. 

Going out to dinner can be slightly less heart attack-worthy at some of the more casual restaurants.  Burgers and pizza tend to be the best options for meals out that hover between fast food and fine dining. Burgers at Roadhouse are roughly $21-30 and pizza at Eldofninn is $16-$25.

A favorite casual restaurant among Icelanders is Saffran. Saffran serves flatbread pizzas, salads, wraps, and chicken dishes such as tandoori chicken, all ranging from $16-$20.

While these options are all nice while you’re spending time in the capital region, as soon as you venture out into the more remote parts of Iceland, your dining options tend to be limited to fast food and expensive restaurants.

Average Cost Of Alcohol In Iceland

The easiest way to keep your alcohol spending to a minimum is to simply not drink at all! It’ll save you a significant amount of money. But, if you are among the many who would like to drink while in Iceland, here are a few tips.

Your best option is to buy alcohol at the Duty-Free in the airport, but be sure to not exceed the allowed limits. Once you leave the airport, buying alcohol will be expensive. Though you can visit bars at Happy Hour for a slightly reduced rate, during regular hours you’ll likely pay between $8-$12 for a half-liter of beer.

Besides 2.25% light beer, you won’t find any alcohol in the grocery store in Iceland. Your only option for buying alcohol is at the liquor store Vinbudin. Vinbudin has limited locations and restricted opening hours, so check the hours ahead of time. Prices at the liquor store are less than buying a drink at a restaurant or bar, but they still won’t be cheap.

A bottle of the more inexpensive wine options at the liquor store range from $15-$30, while a bottle of dessert wine will cost you anywhere from $19-$62. An individual half-liter can or bottle of beer will cost around $3.50. No matter where you go, alcohol prices in Iceland will always be expensive because alcohol is one of the highest-taxed items in the country. And suddenly not drinking at all sounds pretty appealing!

Cost Of Attractions In Iceland

Finally, a bit of good news when it comes to the prices in Iceland! Because Iceland’s biggest draw is its natural landscape, many of the sights you’ll visit will be completely free. Gullfoss and Geysir on the Golden Circle are both free.

The Solheimasandur Plane Crash and Reykjadalur Hot Springs? Free. Though there are some attractions that cost money, it is possible to plan your trip so that you only visit free locations but still get the chance to see some of the best that Iceland has to offer.

Thingvellir National Park, one of the 3 major stops along Iceland’s Golden Circle, does not have an entrance fee, but it has a $4 parking fee. The stunning Seljalandsfoss waterfall also has a parking fee now of around $5.50. The parking fees usually go towards the maintenance of the roads and parking lot.

There are some natural attractions that do have entrance fees, such as Kerid Crater along the Golden Circle, which charges roughly $3.20 to enter.

At one point, the lava tube Raufarholshellir was open to the public for free, but now it requires a $50 tour ticket to explore. You can also expect to pay a small fee (somewhere around $1.50) to have access to the bathrooms at many of the major tourist stops.

If you’re not paying for tours though, the most money you’re likely to dish out is at museums. The LAVA Centre is an interactive museum teaching about volcanic activity.

In order to get the full museum experience, a ticket will cost you around $26. Perlan, which once was just a collection of water tanks, now has an incredible observation deck overlooking the whole of Reykjavik and beyond, and several museum exhibitions.

Tickets to these exhibitions and the observation deck range from $31-$36. Just the observation deck alone is $7. One of the biggest tourist attractions in Reykjavik is Hallgrimskirkja Church and the view it offers of the city from the top.

Tickets are $8 to ride the elevator to the top. The country is full of museums and interactive exhibits and many of them are worth the price of admission to learn more about the country, its culture, and its unique natural landscape. 

Prices Of Hot Springs In Iceland

When it comes to hot spring prices in Iceland, there are options for you at all price levels.  It is possible to experience hot springs in Iceland completely for free. The whole country is full of natural hot pots. Much of Iceland’s beauty comes from its unique natural elements, and the hot pots are a huge part of this.

There is nothing quite like relaxing in a Jacuzzi temperature natural hot pot right in the middle of nature. Some great examples of free hot pot options are the Reykjadalur Hot Springs on Iceland’s South Coast and the Drangsnes Hot Pots.

Another option is to relax in the hot tubs at the town swimming pools. Every town in Iceland has at least one swimming pool and one hot tub (often more). In the capital region, the complexes have multiple hot tubs of varying temperatures.

Laugardalslaug, the biggest swimming pool complex in Reykjavik, even has a salt-water hot tub. The swimming pools are incredibly popular among locals and tourists alike and are a great way to wind down after a long day of adventuring. Admission for adults is roughly $8 a person per visit and $1.30 for children ages 6-17. Hot springs are some of the best stops along the Ring Road in Iceland and you really shouldn’t miss them!

If you’d rather go to a geothermal bath than a swimming pool, locations such as Laugarvatn Fontana or The Secret Lagoon might be perfect for you. Both of these geothermal bath complexes are located in towns that are geothermal hot spots.

At Laugarvatn Fontana, you can bathe in hot pots filled with naturally heated water from the surrounding area, relax in a steam room, or even watch the staff bake rye bread in the ground. An adult ticket into Laugarvatn Fontana is $30.50 and a ticket for children ages 13-16 is $16.00.

The Secret Lagoon is one large natural bathing area surrounded by steam vents, and it comes complete with pool noodles for ultimate fun and relaxation. Admission here is $24 for adults and is free for children under the age of 14.

If you’re planning a trip to Iceland, you’ve likely heard of The Blue Lagoon. The Blue Lagoon is Iceland’s most famous geothermal bathing area. Contrary to popular belief, The Blue Lagoon is not actually a natural hot spring, but rather a man-made lagoon resulting from activity at the nearby geothermal power plant, Svartsengi.

The lagoon’s water is renewed every 48 hours and is filled with natural minerals that are great for the skin. As a major tourist attraction, The Blue Lagoon now has a hotel, restaurant, and many other amenities. Due to its popularity, you have to book your entrance time at the lagoon, days and sometimes even weeks, in advance to ensure you’ll get a spot.

The Comfort Package (and cheapest option) is $55. The Premium Package is $78, and the Luxury is $624. Iceland’s other blue bathing complex is the Myvatn Nature Baths in North Iceland. The Nature Baths are smaller than The Blue Lagoon and as a result, have a slightly more intimate feel. Admission to the Myvatn Nature Baths is $36-$40 depending on the time of year.

In order to best enjoy your Iceland trip, we suggest factoring all these various components into your budget ahead of time, but not worrying about the prices once you’re actually on the trip. Prices in Iceland are expensive, and it’s inevitable that you will be paying a lot of money to be there.

Go out and enjoy the stunning nature and fascinating culture of Iceland. It will all be worth it in the end. If you’re planning a trip to Iceland, or have already been and experienced having to carefully budget for your trip, feel free to tell us your thoughts or ask questions in the comments section.

Reader Interactions

June 28, 2020 at 6:10 pm

This is so useful!!! The best article i read so far about traveling to Iceland. Thank you ?

June 28, 2020 at 7:07 pm

Thank you so much!!!!

July 25, 2020 at 2:26 am

Thank you so much for taking time and laying out what the real cost of traveling could be. I am so glad that I found you page and can plan accordingly.

Thank you!!!!

July 25, 2020 at 3:29 am

Thank you for this kind comment! I hope you enjoy Iceland!

November 16, 2020 at 5:58 am

This is really amazing! Got all the info I was looking for. Can you suggest if it is more expensive to travel Iceland on solo with public transport/ rental car or just book a multiday trip from any tour agent?

December 5, 2020 at 4:22 am

You would have to do the pros and cons on your own! Everyone is different! And it depends on what you want to see and do! For me, going alone is well worth any possible extra cost so I can stay as long as I like in places!

January 11, 2022 at 8:42 pm

Thanks so much for the amazing information. I will be using this to plan my trip!

I am curious if you have any information on traveling in the later half of October? Any info will be greatly appreciated!

January 12, 2022 at 6:45 pm

Yes we sure do!! Here is our post about visiting Iceland in October!!! Good for Northern Lights! https://icelandtrippers.com/iceland-in-october/

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Iceland Vacation Cost: How Much Does a 4-Day Trip to Iceland Cost?

How much does a trip to Iceland cost? Figuring out your Iceland travel budget can be grueling, so I want to make this process as painless as possible by providing budget hacks and helping you set realistic spending expectations for your upcoming trip to Iceland. F or this Iceland travel cost breakdown, I’ve hoarded all of my receipts from my 4-day trip, and here’s how much it cost me. Since I’ve visited three times, I also included other fun facts here.

Depending on your needs and interests, your Iceland budget breakdown may look different from mine. Nevertheless, this is a great resource for figuring out how much money you’ll need. Although Iceland has a reputation for being an expensive country, I’m confident that if you plan and budget accordingly, you’ll have a blast visiting one of my favorite places in the world.

How expensive is Iceland relative to other countries? According to Numbeo’s Cost of Living Index by Country , Iceland is the sixth most expensive country, followed by the Bahamas, the U.S. Virgin Islands, the Cayman Islands, Switzerland, and Bermuda .

• How Much Should You Expect To Spend in Iceland?

Table of Contents

Round-Trip Flights from NYC + Hostel: $562 USD

Shuttle bus to/from keflavík international airport: $32 usd, average daily food cost: $60-$105 usd, average activity cost: $120 usd, citywalk reykjavik, day trips from reykjavík, average daily alcohol cost: $18 usd, total cost of trip to iceland, how to save money in iceland.

Is Iceland expensive?

Based on my three trips to Iceland, the average trip costs between $300 and $400 per person per day , including flights, budget lodging like hostels and Airbnbs, and activities, mostly guided group tours around the country.

This does not include car rentals or gas.

For a detailed breakdown of the cost of a trip to Iceland, keep reading to get a better understanding of the expenses you’ll incur.

Cost of Visiting Iceland: 4-Day Iceland Vacation Cost Breakdown

I purchased my flight and accommodation package six months ahead of time on Expedia and redeemed a $25 Expedia+ coupon with all my accumulated points.

I flew with Delta Air Lines and stayed at Loft Hostel . Although hostels in Iceland aren’t as cheap as in other parts of Europe, they’re still a cost-effective option. If hostels aren’t your thing, search for hotels and guest houses in Reykjavík here .

I booked my flight and lodging separately for my second trip to Iceland. I flew with Icelandair and booked my flights three months before departure. My round-trip ticket to Reykjavík from New York City cost $273.45 USD. At the time, this was the cheapest flight I’ve ever seen to Reykjavík on a non-budget airline. Also, flying with Icelandair meant that the first checked bag was free! The average flight to Reykjavík from New York City costs over $400 USD.

During this trip, I stayed at Kex Hostel Reykjavík in a six-bed female dorm for 6,800 ISK or $63.11 USD per night. I saved $36.10 USD this time by finding an amazing flight deal and booking the essentials separately. I recommend signing up for Thrifty Traveler Premium to find incredible flight deals worldwide.

For my third trip to Iceland, I booked flights with WOW Air for $176.76 USD and stayed at Captain Reykjavik Ránargata. Unfortunately, WOW Air went out of business in 2019.

Gray Line Iceland Airport Express is one of the most convenient ways to get to Reykjavík from Keflavík International Airport. The bus ride takes 45 minutes, and there’s  free Wi-Fi onboard. Order your tickets at the counter or confirm your booking online.

Children between the ages of 12-17 pay half price, and children under 11 travel free. Departures are scheduled 25-45 minutes after arriving flights, so even if you arrive late at night or early morning, there’s always a bus available. Flybus is another shuttle bus alternative. It is slightly more expensive.

With Gray Line Iceland Airport Express, you have two options. The “Terminal to Terminal” service takes you to the Gray Line Bus Terminal at Holtagarðar 10. The “Door to Door” service drops you off at your hotel or near your guesthouse.

Airport Express Terminal-to-Terminal Costs

2,400 ISK one-way or $19 USD

3,900 ISK round-trip or $31 USD

Airport Express Door-to-Door Costs

2,900 ISK one-way or $22.86 USD

4,900 ISK round-trip or $45.72 USD

Iceland Transportation Money Saving Tip

I saved 5% on my bus tickets with the promo code “SIGHT5”.

Before booking, Google “Gray Line promo codes” to find other coupon codes and more savings.  

Gray Line Iceland also offers promo codes right on their website. During my second trip to Iceland, I booked a Snaefellsnes Peninsula and Cave Exploration tour and saved 10% with the promo code “LABOR10”.

What’s the cost of food in Iceland?

Food in Iceland is extremely expensive.

Even though I saved money on breakfast (included in my hostel stay), I suggest budgeting $20-$35 USD per meal. On the other hand, my roommates bought a lamb stew for $80 USD. I know, crazy, right?

The cheapest lunch I had cost $15 USD. The most expensive dinner was $34 USD.

Check out my Iceland food prices guide for how much things cost at supermarkets, restaurants, and bars.

Iceland Food Costs: How Much Does Food Cost In Iceland?

How much to tip in Iceland?

Tipping isn’t mandatory in Iceland. Icelanders don’t tip because it’s included in the price and taxes. Feel free to tip your server or bartender if you feel they went above and beyond , but there’s no obligation or expectation. You may see tip jars in coffee shops, but you don’t have to tip them unless you want to.

More Money-Saving Tips in Iceland

Remember that you don’t need to buy bottles of water in Iceland. The water is pure, and you can get it free anywhere. My tour guide encouraged me to drink water from a glacier lagoon—and that’s normal.

Press play to listen to this podcast episode, where I share even more tips for saving money in Iceland . These tips are based on my book Iceland: Nature, Nurture & Adventure .

Listen to this episode on Apple Podcasts and Spotify .

Considering shopping in Iceland? Here’s how you can get up to 14% off items by claiming a tax-free refund .

How To Claim Your Tax-Free Refund Shopping in Iceland

Iceland has much to offer, especially if you’re looking for adventure. There are waterfalls to walk behind, glaciers to climb, and you can even go inside a volcano or snorkel between continental plates. If you’re feeling really adventurous, try extreme motorsports like formula off-roading. 

Things To Do in Reykjavík

• Hallgrimskirkja Church : $8 USD
• Admission to Vesturbaejarlaug swimming pool: $8 USD
• Tip for CityWalk Reykjavik walking tour: $12 USD (set your own price)

CityWalk Reykjavik offers free walking tours in Reykjavík. They also lead pub crawls, running tours, and private tours. The free “History and Culture Walk” is a great introduction to the city, Icelandic culture, and history. Best of all, the tour guides are witty Icelandic historians. During the walking tour, you’ll walk through the most historic parts of town , including the oldest neighborhood and the oldest cemetery. I would have missed so many hidden gems if I skipped this tour. At the end of the tour, set your own price and tip in any currency.

Day trips in Iceland are pricey, but the good news is that I also found plenty of cheap things to do in Reykjavík if you’re on a budget.

• Horseback riding: $106 USD 
• Iceland’s South Coast   bus tour: $138 USD 
• Snorkeling at Silfra (including photos): $205 USD

I booked a snorkeling Silfra tour ahead of time with DIV.IS.  If you have a  GoPro camera , bring it with you. You can save money by not paying extra for photos and videos.

If you want to see Iceland’s landscape, it’s worth visiting the countryside. Lots of people recommend renting a car in Iceland, but taking a guided tour was informative and convenient. I would have missed so much if I were on my own!

I also booked a last-minute South Coast sightseeing tour with Sterna Travel.  Sterna Travel offered the cheapest South Coast bus tour,  and the value was incredible! I saw many waterfalls and a glacier tongue, and I even learned about the effects of volcanic eruptions and global warming on the island.

Getting a drink or two in Iceland adds up quickly. A beer costs roughly $11 USD.

Loft Hostel has one of my favorite bars  in Reykjavík. They offer a variety of Scandinavian beers, and you can jam out to live music on Fridays. Their rooftop patio is also a great place to scope out the city skyline.

A friend introduced me to Ölsmiðjan Bar, a dive bar where beer costs only $5.48 USD or 590 ISK!

Lastly, use the Appy Hour app to find cheap drinks in town. Appy Hour conveniently lists every happy hour in Reykjavík in real time.

How much does it cost to go to Iceland? W hen I totaled all of my expenses, I spent $1,240 USD for my 4-day trip. I am both shocked and relieved I decided to spend only four days in Iceland. The more time you spend in Iceland, the more you’ll spend. An average trip to Iceland costs approximately $300 per day, including flights and lodging.

Food, alcohol, and activities were the most expensive budget categories, but  I’m amazed Natasha over at The World Pursuit spent a  week in Iceland and only spent $100 USD ! Nevertheless, I have no financial regrets whatsoever about my trip. I’m happy I got to visit one of the top destinations on my travel wish list.

Would I go back? Ugh….duh!  I’m already planning my fourth trip.

Although visiting Iceland isn’t the cheapest, it’s still worth it. With that in mind, here are some quick pointers to help you and your wallet make the most of your Iceland vacation.

• Shop Duty-Free. While you can buy alcohol at a local bar or restaurant, alcohol is pricey in Iceland because of taxes. To make matters even worse, alcohol taxes are levied based on the volume of alcohol in a drink. The first piece of advice is: buy your drinks at the airport. If you’re flying into Keflavik International Airport, Iceland’s main airport, stop by Duty-Free Iceland . It has a wide selection of alcoholic and non-alcoholic beverages from Argentina to New Zealand and almost anywhere else in between. Keep in mind that each traveler is only permitted six units of alcohol. If it sounds confusing, use this alcohol allowance calculator to see how much beer, wine, and liquor you can purchase at the airport.
• The second piece of advice is to make the most of local happy hours . To know which bars have discounted happy hours, download the app Appy Hour. This app sorts out bars and happy hour deals based on proximity and price.
• Bring a refillable water bottle . While you can buy bottled water in Iceland, Iceland’s tap water is unbelievably pristine, safe, and never chemically purified. Iceland’s tap water is reported to originate from springs and mountains that are naturally purified through molten rocks, which not only cleanse the water of any bacteria or chemicals but also add minerals and nutrients. So why spend your coin on some of the world’s best water when you can get it from the tap for free?
• Ditch cash. Like most countries, Iceland prioritizes plastic, with no need for ATM visits and fees.
• Claim your tax refunds through tax-free shopping. Tax-free shopping is a way to save money when traveling to expensive countries such as Iceland. For more on how to claim your tax refund, check out my article, “ Tax-Free Shopping in Iceland ,” on how to save money and receive a tax refund.
• Unlike the U.S., where tipping can go a long way, tipping is not necessary in Iceland . Gratuity is already included in the bill, so while tipping isn’t necessary, it is always appreciated.
• Regarding finding reasonably priced items to stock your temporary fridge , Iceland has several options for affordable grocery stores. Of these grocery stores, I suggest Bónus and Krónan for household items, food, drinks, and anything else you may need to comfortably enjoy your time in Iceland.
• Prioritize local swimming pools over fancy hot springs. Here, you’ll meet locals and partake in their traditions and customs while also saving money!

For even more helpful tips not covered on the blog, grab a copy of my Iceland travel guide !

In this book, we cover:

• What to expect
• Things to do in Iceland
• Things to pack
• How to save money in Iceland
• How to save money duty-free shopping in Iceland
• The best times to visit Iceland and more!

Continue planning your Iceland vacation. Read these Iceland articles next:

Caving Adventure in Vatnshellir Cave

Top Blue Lagoon Alternatives

Best of Iceland South Coast Tour

Grab copies of my books on Amazon.

Danielle Desir Corbett paid off $63,000 of student loan debt in 4 years, bought a house at 27, and has traveled to 27 countries, including her favorites, Iceland, China, and Bermuda. Go here to learn Danielle’s incredible story, from struggling financially and in debt to finding creative ways to earn more and live on her terms. Listen to The Thought Card Podcast , where Danielle shares how you can creatively travel more and build wealth regardless of your current financial situation. Reach out to Danielle by contacting: thethoughtcard (at) gmail (dot) com.

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Haha, Iceland is awesome right?! I can’t remember our costs but dang it’s expensive there and the FOOD. Like, not even for anything special…

We got so lucky and were able to couchsurf for free (what’s more our hosts’s kid gave up his room for us so we got a comfy bed) and their place had a heated bathroom floor (which is common there…). And our host’s partner gave me this lovely necklace…

Wow! this post sounds amazing.. Iceland looks awesome to explore, there are so many things to do, I love your post and I will be definitely adding to my bucket list..keep sharing!

Thanks Monica, keep an eye out for my Iceland Travel Guide that comes out in July!

Amazing tips and amazing photos too, you guys had a great time and Now Iceland is in my bucket list, thanks for sharing such a beautiful post

Thank you so much Kanika! In July 2019, I’m releasing my Iceland travel guide book with even more info for planning your trip!

Hi, great article. How did you manage jet lag on such a short trip?

Hydrate and try to sleep on the airplane so when you land, you can hit the ground running!

This is so helpful! Heading to Iceland in October, so definitely bookmarking this. Thank you for sharing

Thank you for your post! This helps me figure out what my expenses will be like when I go for the first time. :)

Thank you Christian, I just got back from my third trip to Icealnd and plan to update with more money details soon! When are you heading to Iceland?

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The program by Guide to Iceland is highly customizable to your needs, and the agent responds promptly to any modifications you request and questions you have (thank you, May!). 6-day trip to Glacier Lagoon will be packed with actions and events, and I highly recommend the trip!

Sarah Jerrell

This trip was absolutely incredible. I traveled with my mom, aunt and cousin on the "Easy" package. Every tour had the perfect amount of variety and variations along the way. We had two different tour companies for the four days of guided tours and both were outstanding - small bus and small groups made it almost like a private tour. The guides were awesome and laid back and contributed to the amazing all around experience. Guide to Iceland was an amazing service. My mom and I booked separately from our other two and Guide to Iceland did an amazing job merging our packages and ensuring that we were able to travel together. There was one day that our itineraries were different, but within a couple hours they had everything fixed and the changes happened without a hitch! I will definitely use them again in the future

Naila Hunkeler

We had a wonderful trip! Car rental and hotel accomodation worked perfectly - all was ready and waiting. We changed the itinerary a bit by adding an extra night between Höfn and Reykjavik, as we didn't want to drive 450km on one day (no problem to change with Guide to Iceland, but there is an amendment fee). Thanks very much for the great documentation about the trip - no need to read another book - it's all there! (Would recommend buying a road map though). Will recommend Guide to Iceland to all our friends!

Natalia Aleksakhina

It was the best trip ever! We were really lucky with the weather and saw all the picturesque views in great condition! All the excursions included in this 8-day tour were very well organized. It's the best choice to book this tour if you want the most fulfilling 8 days in Iceland. The customer service responded very quickly and was very helpful.

Traveling to Iceland in 2024 promises to be an incredible opportunity for travelers with an adventurous spirit and vacationers seeking relaxation. However you’d like to spend your time here, you’ll be doing so amidst some of the world’s most spectacular culture and nature during a brief window of time in which there will be smaller crowds and lower prices at the most desirable attractions. 

Your trip can be whatever you’d like it to be, whether it’s as part of a guided vacation package designed to give you the most opportunities to witness the Northern Lights or a series of smaller day activities. No matter which vacation package you choose, you can rest easy knowing you’re vacationing in one of the safest countries in the world.

Here, you’ll find our curated list of the best vacation packages Iceland has to offer in 2024. Whether you’d like to check out the sites located on the legendary Ring Road or relax in Reykjavik with some day trips thrown in, you’ll find the adventure you’ve been looking for.

Guide to Iceland has designed these packages to ensure you have the best possible experience during your stay. Tours, attractions, activities, and accommodations have all been chosen because of their quality and will be prepared and confirmed by Guide to Iceland before you arrive. We’ll focus on the logistics while you focus on having a great time.

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Visit a Live Volcano

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How Much Does an Iceland Trip Cost? Our Road Trip Budget

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Are you wondering how much does an Iceland trip cost? The simple answer is that it’s not going to be cheap. Our Iceland road trip is the most expensive trip we’ve ever taken, but it was 100% worth it.

Iceland is like nowhere else we’ve visited and has truly spectacular scenery.

During our 12-day road trip we hiked up volcanic craters, wandered through lava fields, lazed in hot springs, rode cute Icelandic horses, snowmobiled across a glacier, spotted seals and an arctic fox, gazed at the northern lights, walked along red, black, and golden beaches, and saw so many waterfalls.

See our Iceland itinerary for details of what we did and where we stayed.

We travelled in Iceland on a mid-range budget. We rented a 4WD rather than a compact car for more comfort on gravel roads, we stayed in comfortable self-catering cabins with private kitchens and bathrooms, cooked most of our meals, and did a few expensive activities.

You certainly could spend more by choosing luxury hotels and eating out every day.

Or it is possible to travel in Iceland on a budget by camping or staying in guesthouses with shared bathrooms and skipping paid activities (there’s so much to see for free).

Video: Iceland Inspiration 

Cash vs credit cards in iceland, our iceland travel budget, accommodation, entertainment, miscellaneous, iceland expenses not included above, more iceland reading.

If you are looking for inspiration for your Iceland trip, check out our video on the best places to visit on the Snaefellsnes Peninsula .

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You don’t need much cash in Iceland as credit cards are accepted almost everywhere.

We withdrew 10,000 Icelandic króna from an ATM at the airport (which charged a fee), but we only needed 3000 ISK for unattended hot springs and toilets (where you put the fee in a box).

Make sure you bring a chip and pin credit or debit card for the unattended petrol pumps (or buy a pre-paid gas card from petrol stations when you arrive).

Here’s our total Iceland trip cost for two people on a 12-night road trip in September 2018 (in British pounds, Icelandic Krona, and US Dollars):

Our average daily spend was £325/ $425 which is £163/ $213 per person . We were a little over our budget but weren’t strict about our spending. Here’s what we spent it on:

Note: The current exchange rate is approximately 1 GBP = 175 ISK (Icelandic krona), 1 USD = 130 ISK and 1 EUR = 150 ISK.

22% of total. £72/ $94 a day

Transport was the second biggest category of our Iceland trip budget.

Renting a car is the best way to explore Iceland as public transport is minimal (and only runs in summer) and the best places to visit are in remote areas.

You don’t need a 4WD for most Iceland trips (unless you are driving F roads which most people don’t), but we chose to rent one for more comfort and higher clearance on the many bumpy gravel roads in the Westfjords.

We used Booking.com to find the best deal and booked a Dacia Duster compact 4WD with Budget who have an office at Keflavik airport (many companies require a shuttle bus to their office).

It cost about £50 ($65) a day for a 12-day rental. A compact car would cost half that.

Make sure you check what insurance your rental includes and what the deposit is—it can be up to $3000 with local companies.

I recommend buying a separate car hire excess insurance policy. We have an annual policy that covers multiple trips and is far cheaper than getting extra insurance with the rental company. 

We spent 22,870 ISK ($195) on petrol for the whole trip driving 1686km (1048 miles).

Our other transport costs were a toll road fee near Bogarnes (on the way to the Snaefellsnes Peninsula ) of 1000 ISK ($8.50) and the Baldur ferry from Stykkishólmur to the Westfjords which cost £87/ $115 for two adults and one car.

Iceland Without a Car

If you don’t want to rent a car, you could base yourself in Reykjavik and take day tours such as this Snafellsness day tour, the classic Golden Circle Tour , or a South of Iceland full day tour. Most day trips cost from US$60 to $130. 

Taking a tour is a good idea if you are visiting in winter and don’t feel confident driving on snowy and icy roads. 

Flights to Iceland

Our Iceland travel budget doesn’t include our flights as these will be different for everyone depending on where you are coming from.

We flew London Luton to Keflavik (KEF) with Easyjet which cost £55 each there and £78 back. We paid extra for front row seats which included priority boarding and a personal item in addition to our main carry on.

It would have been cheaper if we’d booked further in advance. I booked our whole Iceland trip three weeks before.

From the US there are no longer cheap flights with WOW Air (the airline shut down in 2019), but you can get a free stopover when travelling with Icelandair between North America and Europe.

I always search Kiwi to find the best flight deals.

52% of total. £168/ $220 a day

Accommodation was by far our biggest Iceland expense.

We chose self-catering cabins and apartments as we wanted to stay in remote areas and be able to cook for ourselves (vegetarian options are limited outside of Reykjavik).

We didn’t stay anywhere super fancy, but we chose places with views and more style when possible.

Overall I was surprised by how simple the accommodation was for the price—we averaged £168/ $220 a day. Bedrooms are almost always twin beds pushed together with separate duvets.

We found our accommodation on Booking and Airbnb and I also recommend searching for unique cabins on Vrbo .

We booked three weeks in advance, but I recommend booking further in advance for more choice—this is essential in summer.

Here are the places we stayed with the cost per night for two people from cheapest to most expensive. All had two bedrooms, kitchen, heating, and good WiFi (except where noted).

• Bjarkarholt Guesthouse , South Westfjords £131 ($171) – Basic apartment but good location across the road from a quiet hot spring and we saw the northern lights outside. Convenient for the ferry.
• Hlemmur Apartments, Reykjavik £135 ($176) – Comfortable apartment walkable to everything. No longer available but City Comfort Apartments is a good alternative in the same area.
• Airbnb in Húsafell , West Iceland  £154 ($201) – Modern, well-decorated cabin in the woods with a hot tub on the terrace and good kitchen. No WiFi but we had 4G signal.
• Airbnb in Ísafjörður, North Westfjords £171 ($224) – Cute house overlooking the fjord and close to the centre of town. Sadly it’s no longer available. 
• Airbnb in Hólmavík , East Westfjords £198 ($259) – Large, rustic house with homely details and great sea views. Basic bathroom and small beds but it has a handy washing machine and dryer.
• Cabin at Tradir Guesthouse, Snaefellsnes Peninsula £219 ($287) – Simple cabins between the mountains and the sea. It would be a great place to see the northern lights (but too cloudy when we were there). Our favourite for views and isolated location. It has now closed—see our Snaefellsnes Peninsula guide for other suggestions.

See our Iceland road trip itinerary for more detailed accommodation reviews.

We travelled in the September shoulder season which we found the best time to go to Iceland . Costs may be higher in the busy summer months of June to August and would be lower in the winter.

Guesthouses with shared bathrooms (and sometimes shared kitchens) would have been cheaper at about £100 ($130) a night. All our accommodation had two bedrooms so they’d be better value if you’re travelling in a group.

Camping with a tent or camper van would be the cheapest option, but you must park in a designated campsite and it isn’t advisable outside the summer months (it was close to freezing at night in September).

8.5% of total. £28/ $37 a day

This includes our eating out, food shopping, and coffee budgets. We self-catered all of our meals except for the last two days in Reykjavik which has some excellent vegetarian-friendly restaurants.

We brought some food from the UK (granola, packaged lentils, couscous etc.) and then stocked up at the discount Bonus supermarket where prices are fairly reasonable. We also bought bread from bakeries and homemade jam from a roadside stall.

See our Iceland packing list for exactly what we brought with us.

Our total spent on food shopping in Iceland was £152 ($200) or £13 ($17) a day for two people.

We also regularly stopped in cafes for coffee/hot chocolate and cake—our average spend was £14.50 ($19) for us both per visit.

We only ate out for two meals in casual restaurants in Reykjavik and the average cost was £43 ($55) for two people.

Main dishes usually cost around 3000 ISK (£20 /$26). Costs will be a lot higher if you add a bottle of wine which is usually from £40 ($52). A beer costs from £5 ($6.50) and can be a lot more.

Alcohol is expensive so we only drank in Reykjavik and a bottle of Prosecco (£11/$14) that we bought at the airport on arrival (the cheapest place for booze) to enjoy in the hot tub at our cabin.

Our food budget would have been a lot higher if we had eaten out for every meal. We could have reduced costs by self-catering in Reykjavik and skipping the cafe breaks, but Iceland has lovely cafes so that would have been a shame.

Tap water is drinkable so we didn’t spend anything on water. We took our Vapur foldable water bottles with us.

17% of total. £56/ $73 a day

You don’t need to spend anything on entertainment in Iceland as natural attractions like waterfalls and national parks are free.

There are some interesting activities, though, and we paid for hot springs and geothermal swimming pools (a classic Icelandic experience not to miss), a few museums, and two pricier activities.

The most popular attraction in Iceland is the Blue Lagoon which costs about $80 and must be booked in advance. We saved by visiting local hot springs and pools instead.

Our Iceland activities included (with the cost per person from cheapest to most expensive):

• Hot pot at Birkimelur swimming pool, Westfjords – 700 ISK ($6)
• Krossneslaug swimming pool, Westfjords – 700 ISK ($6)
• Hallgrímskirkja church tower for the view, Reykjavik – 1000 ISK ($8.50)
• Museum of Sorcery and Witchcraft, Hólmavík – 950 ISK ($8)
• Arctic Fox Centre, near Ísafjörður – 1200 ISK ($10)
• Reykjavik Art Museum (three sites) – 1650 ISK ($14)
• Drinks (four) on a night out in Reykjavik – 5600 ISK ($48)
• Horse riding (one hour) – 8500 ISK ($73)
• Snowmobiling into the Glacier tour – 29,900 ISK ($255)

0.5% of total. £2/ $2.60 a day

This was gifts we bought at the airport on departure.

We didn’t need to buy a SIM card as our UK data/call plans work for free anywhere in the EEA or EU.

If you don’t have an EU SIM you can get a Siminn SIM Card and data plan for 2900 ISK ($25) in Iceland. Or a much cheaper option that you can set up before you arrive is an Airalo e-SIM .

I found the Lonely Planet Iceland guidebook  very useful when planning our trip.

I highly recommend The Little Book of Tourists in Iceland by Alda Sigmundsdottir for tips by a local on travelling safely and responsibly. 

Read my picks for the 10 best books about Iceland to read before you visit. 

Travel Insurance

Travel insurance is essential in case anything goes wrong. We bought insurance with True Traveller , who we’ve been using for years and are excellent value for UK residents.

SafetyWing is another affordable option and is available worldwide. 

Car Hire Excess Insurance

Most car hire companies in Iceland have high excess amounts that you have to cover if you have an accident. They will offer expensive insurance to reduce the excess but it’s much cheaper to buy a separate policy.

An annual worldwide car hire excess policy costs about £40.

Don’t be put off by the high cost of travelling Iceland. It’s a stunning and unique place that’s well worth the price.

• Planning a Trip to Iceland: DOs and DON’Ts
• 14 Places Not to Miss on the Snaefellsnes Peninsula
• Iceland Itinerary: Off The Beaten Path on a Snæfellsnes and Westfjords Road Trip
• The Ultimate Iceland Packing List for Men and Women (Carry-On Only)
• 10 Best Books About Iceland to Read Before You Visit
• Visiting Iceland in September: What to Expect and Things to Do

If you enjoyed this post, pin it!

To anyone living in the States. Check to see if your airport has Icelandic Air.

If so, book through Icelandic Air directly. They normally fly direct and are super cheap.

Reply ↓

Erin & Simon, Thanks for a comprehensive look at the Snæfellsjökull peninsula as well as your general Iceland info. I’ve done loads of research and had our itinerary pretty well mapped out. I’ve added a few more due to your spectacular photos. We too will be visiting in September and coming back thru in October. I appreciate all your tips.

Have a wonderful trip Denise!

Hello. Found this page and thought I would add my 2 cents worth. I did a 12 day trip around Iceland with my sister at the end of August, 2016. We drove around Iceland (ring road) and took many side roads as we went around to get off the beaten path. Our cost was just around $1100 USD per person (we came from Canada, and paid ~$1500 CAD per person). If you book your flight early enough it’s not very expensive, and you really don’t need a 4×4 on your first trip there unless you’re planning on going on F-roads. Most of the roads are pretty good, especially if you’re just want to stick to the ring road and some short side trips, which there are plenty of. 4×4 cars cost much much more than a regular ones, and the diesel cars uses very little gas. This will save you a lot of money. The other big saving, and this is not for everyone, is that we camped. Camping sites cost ~$10 per night per person and usually have showers. Food is food, you have to eat wherever you are so there is really no point including it in the cost (but we did), and same for gas for the car as you might spend something similar driving to work etc at home (but we did include it). Now, lots of people say food if VERY expensive in Iceland. This is not true, depending on what you eat. If you must eat out then sure, it’s going to cost you a lot. But, you can also go to the supermarket and many things are the same price or even cheaper than in Canada/US. We brought a small gas stove ($15 on Amazon) and bought a bottle of fuel there so we could heat up water for tea, coffee and soups. If you can travel this way then you should be able to do Iceland for ~$1000-1200 US per person! Of course it requires some camping gear and know how, so it’s not for everyone, but just wanted to put it out there as a good option. Another one is to go slightly off season (before June or after August) as then you can rent a camper van and sleep in that, and most accommodations will be less if you want to stay in hotels etc, so consider that. I’m going to the Westfjords in summer of 2019 for 10 days and don’t expect that trip to cost me more than $1100 USD, again, camping.

Thanks for the info!

Wow… Thanks for that you’ve done all my homework for me. Have always been intrigued by Iceland. How would you describe handicap accessibility? Wheelchair/cane traveler. Now I just have to talk my sun loving dutchman (Morocco, Cape Verde, Thailand, Vietnam, Mexico) to want this too. Safe travels,=^..^=

I think some of the more popular sights are accessible but we did do quite a bit of walking on rough trails that would be challenging. Here are a few resources that might help: https://guidetoiceland.is/travel-info/iceland-in-a-wheelchair-adventures-accessible-to-everyone

https://www.curbfreewithcorylee.com/category/travel-tips/rolling-around/iceland/

I hope you make it there!

Looks like it was worth every cent Erin. Countries seeming to be on the expensive end of the spectrum are that way for a good reason; you get stunning beauty and Western conveniences in some regards. Plus you avoid the riff raff ya gotta face sometimes in developing nations with a lower cost of living LOL. Rocking breakdown.

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Prices & Travel Costs in Iceland

Are restaurants expensive? How much does a coffee cost? How much money should you bring for a few days in Reykjavik ? Discover how much it costs to travel to Iceland and plan ahead to save money on your trip!

Prices in Iceland are high compared to other European countries , like other Nordic destinations such as Oslo or Copenhagen. We've compiled a list of the basic things visitors are likely to buy below so you can get an idea of the costs.

Tipping in Iceland  is not as widely expected as in other countries of the world as service charges are usually included in restaurant bills.

Check out the currency conversions from the Icelandic króna here .

Food and drink

• Coffee: 400 kr ( US$ 2.90)
• Bottle of water: 300 kr ( US$ 2.20)
• Large beer: 1,000 kr ( US$ 7.20)
• Soft drink: 350 kr ( US$ 2.50)
• Lunch in an Icelandic restaurant : 4,000 kr ( US$ 28.90)
• Bottle of gin in a liquor store: 6,000 kr ( US$ 43.40)
• Single bus ticket in Reykjavik: 470 kr ( US$ 3.40)
• Day travel pass in Reykjavik : 1,800 kr ( US$ 13)
• Three-day travel pass in Reykjavik: 4,200 kr ( US$ 30.30)
• Taxi to Keflavik Airport : 18,000 kr ( US$ 130.20)

Tourist attractions

• Hallgrímskirkja Tower: 1,000 kr ( US$ 7.20)
• Icelandic Phallological Museum : 1,700 kr ( US$ 12.30)
• The Settlement Center :   2,500 kr ( US$ 18.10)

Accommodation

• One night in a single room in a hotel in Reykjavík: 7,000 kr ( US$ 50.60)

You may also be interested in

Spring, summer, autumn or winter: learn all about the weather in Iceland so you can decide when to travel, when to see the Northern Lights and what to pack!

The official language of Iceland is Icelandic, and although much of the population speaks excellent English, we've compiled an article full of helpful advice and basic phrases you can use to make your trip easier.

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10 day Guided tour | Iceland Complete

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• Coach / Bus

Places You’ll See

• Marvel at the incredible gushing Skogafoss waterfalls
• See the majesty of Glacier Lagoon and Diamond Beach
• Explore the home of reindeer and a mythical sea monster
• Journey through the less-travelled Troll Peninsula
• View the hidden treasures of beautiful Borgarfjordur
• Introduction
• Day 1 Arrival
• Day 2 Thingvellir National Park – Geysir – Gullfoss
• Day 3 Thjorsardalur Valley – Skogar – Dyrholaey – Vik
• Day 4 Vatnajokull National Park – Jokulsarlon Glacial Lagoon – Hofn
• Day 5 Hofn – East Fjords – Egilsstadir
• Day 6 Lake Myvatn Area
• Day 7 Lake Myvatn Area – Godafoss – Akureyri
• Day 8 Skagafjordur – Borgarnes
• Day 9 Borgarfjordur – Snaefellsjokull National Park – Reykjavik
• Day 10 Departure

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What's Included

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Where You'll Stay

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Operated by Iceland Travel

Since 1936 Iceland Travel has been the leading travel company, tour operator and destination management company (DMC) in Iceland, offering top-quality services. We take great pride in our diverse portfolio of tours in Iceland. Our active product development is built on cooperation with our licensed suppliers, on feedback from clients and guests and on ever-changing new trends. Our dedicated, hand-picked team are passionate about what they do and are constantly coming up with innovative ideas to tackle small and large scale projects. We have the expertise and flexibility to service high-volume clients. In addition, we appreciate that the success of our long running existence is based on our respect for the delicate and unique Icelandic nature. Our mission is to seamlessly craft true Icelandic experiences

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• Overall Rating Excellent 4.6
• Itinerary Excellent 4.7
• Guide Excellent 4.8
• Transport Excellent 4.7
• Accommodation Excellent 4.4
• Food Excellent 4.2
• Tour Operator Iceland Travel 4.6
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• Most Popular
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• AM Aruna · 10th October 2022 The guide Sola was very good and helpful! Trip date: September 2022

Dates & Availability

Pay-by-instalments

Take advantage of our 0% interest instalment plan on selected departures. Learn More

• Upcoming departures
• August 2024
• September 2024
• Tuesday 11 Jun, 2024 Thursday 20 Jun, 2024 English Multiple Room Types €3,823 Confirm Dates
• Get Instant Confirmation Tuesday 2 Jul, 2024 Thursday 11 Jul, 2024 English Multiple Room Types €3,823 Confirm Dates
• Tuesday 16 Jul, 2024 Thursday 25 Jul, 2024 English Sold Out Based on Adult in a double/twin room €3,823 See Similar Tours For These Dates
• Get Instant Confirmation Tuesday 30 Jul, 2024 Thursday 8 Aug, 2024 English Multiple Room Types €3,823 Confirm Dates
• Get Instant Confirmation Tuesday 20 Aug, 2024 Thursday 29 Aug, 2024 English Multiple Room Types €3,823 Confirm Dates
• Get Instant Confirmation Tuesday 17 Sep, 2024 Thursday 26 Sep, 2024 English Multiple Room Types €3,647 0% Interest Instalments Confirm Dates

Frequently Asked Questions

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Good to Know

• Currency kr Iceland Krona Iceland

As a traveller from USA, Canada, England, Australia, New Zealand, South Africa you will need an adaptor for types C, E, F.

• Unfortunately we cannot offer you a visa application service. Whether you need a visa or not depends on your nationality and where you wish to travel. Assuming your home country does not have a visa agreement with the country you're planning to visit, you will need to apply for a visa in advance of your scheduled departure.
• Here is an indication for which countries you might need a visa. Please contact the local embassy for help applying for visas to these places.
• For any tour departing before 28th July 2024 a full payment is necessary. For tours departing after 28th July 2024, a minimum payment of 20% is required to confirm your booking with Iceland Travel. The final payment will be automatically charged to your credit card on the designated due date. The final payment of the remaining balance is required at least 60 days prior to the departure date of your tour. TourRadar never charges you a booking fee and will charge you in the stated currency.
• Some departure dates and prices may vary and Iceland Travel will contact you with any discrepancies before your booking is confirmed.
• The following cards are accepted for "Iceland Travel" tours: Visa, Maestro, Mastercard, American Express or PayPal. TourRadar does NOT charge you an extra fee for using any of these payment methods.
• Your money is safe with TourRadar, as we only pay the tour operator after your tour has departed.
• TourRadar is an authorised Agent of Iceland Travel. Please familiarise yourself with the Iceland Travel payment, cancellation and refund conditions .
• Insurance Unless otherwise mentioned, TourRadar does not provide travel insurance. We do however recommend purchasing it through our tried and trusted partner, World Travel Nomads .
• Accessibility Some tours are not suitable for mobility-restricted traveller, however, some operators may be able to accommodate special requests. For any enquiries, you can contact our customer support team , who are ready and waiting to help you.
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• Flight Deals

This Low-cost Airline Has Flights to Europe Starting at $99 — but You’ll Have to Book Soon

Play Airlines has discounted flights to Iceland, Amsterdam, London, Paris, and more until May 27.

Courtesy of PLAY Airlines

Low-cost Icelandic airline Play is celebrating the Memorial Day holiday with a flash sale that has one-way flights to Europe starting at just $99.

The sale, which must be booked by midnight ET on May 27, is valid on travel from August through December, Play shared with Travel + Leisure . The flash sale is available for travel to some of Europe’s most popular destinations from Iceland and Amsterdam to Paris and beyond.

“Summer is finally here and Play challenges travelers to get ahead on their shoulder season trips to take advantage of low prices and a calmer time of the year to visit top tourist destinations,” Einar Örn Ólafsson, Play’s CEO, told T+L. “Getaways during the fall and winter are a perfect time to unwind after a hectic summer, and Play wants to make these trips more affordable with this Memorial Day Discount to kick off summer and travel planning.”

Travelers can save big with $99 one-way flights to Iceland, or pay just $129 for one-way flights to Amsterdam, Berlin, Copenhagen, Dublin, Dusseldorf, Hamburg, London, and Paris, according to the airline. 

The sale flights are available from any of Play’s gateway airports in the United States: Baltimore/Washington International Thurgood Marshall Airport (BWI), Boston Logan International Airport (BOS), New York Stewart International Airport (SWF), or Washington Dulles International Airport (IAD).

Exact travel dates and blackout dates vary by destination. Flights to Iceland, Amsterdam, Copenhagen, London, and Paris, for example, are valid on Mondays from Aug. 19 to Nov. 25 and from Dec. 2 to Dec. 16. Travelers must book a roundtrip flight to take advantage of the sale.

Play, which first started operating flights in Europe in 2021 before finally launching its first flight from the U.S. , operates a "hub-and-spoke model" in which all flights connect through Reykjavik before heading on to other destinations across Europe. The airline flies to more than two dozen European cities .

Play is a low-cost carrier and charges per flight leg for everything from checked bags to food and drinks.

Related Articles

Low-cost airline sale offers flights from Ontario to Europe for as cheap as $170

Latest Videos

If you're trying to plan a dreamy European trip on a budget this summer, a new low-cost carrier is having a flash sale that boasts flights from Ontario to a handful of stunning overseas destinations for as low as $170.

Iceland-based PLAY Airlines has just launched discounted fares for cities like Berlin, Amsterdam, London, Paris, Dublin and more, offering 25 per cent off the basic ticket price for those travelling out of John C. Munro Hamilton International Airport, which is about an hour's drive from downtown Toronto.

The sale lasts from May 20-26 and applies to trips booked for any time from June to December 2024.

The company also encourages customers to take advantage of its stayover program, which allows travellers to add a stop in Reykjavík, Iceland, on their way to their final destination without any additional flying fees.

blogTO reached out to PLAY to find out how much of a deal people can get through this week's sale, and was given the following list of prices if the discount is applied on both legs of a booking (not including taxes):

• I celand — l owest is roughly $220 CAD
• Copenhagen — l owest around $201 CAD
• Berlin — from  approximately $170 CAD
• Dublin — from  $220 CAD
• Amsterdam — l owest is roughly $205 CAD
• London — l owest is approximately $180 CAD
• Paris — l owest around $230 CAD
• Dusseldorf — from about  $185 CAD

Structured Vision /Shutterstock

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