How Much Does a Vacation in Iceland Cost?

Iceland has a reputation for being one of the most breathtaking countries in the world to visit. This is thanks to remarkable natural wonders, captivating landscapes, and mesmerizing phenomena like the Northern Lights and the Midnight Sun.

However, the Land of Fire and Ice also has a reputation for being a moderately expensive destination to visit.

So, is this true? Well, it depends. Ultimately, any answer is subjective. Every traveler has their own opinions, experiences, and preferences that influence the kind of trip they want to enjoy in Iceland, and how much it will cost.

As the leader in Reykjavik walking tours and Iceland day trips and tours, we love helping visitors to our country have the best experience possible.

This is why we’ve dedicated this blog to providing the information needed to answer the question, “How much does a vacation in Iceland cost?”

Let’s crunch some numbers! Keep in mind that we’re working with averages and that prices will change over time.

If any questions come to mind as we go, please get in touch for the answers you need.

Hallgrimskirkja Rainbow

How Much Does it Cost to Get to Iceland?

First things first, let’s talk about getting here. The cost of flights to Iceland will depend on where you’re flying from and when you book your flights. 

If you’re coming from North America or Europe, you’re in luck; you’ll find direct flights to Keflavik International Airport. 

Prices can range from around $400 (€372) to $1,500 (€1,397) or more for a round-trip ticket. 

Keep an eye out for deals and seasonal sales, and don’t forget to check for those irresistible flight and hotel bundles!

Aerial view of Keflavik Runway

How Much is Accommodation in Iceland?

Once you land, you’ll need a home away from home to rest in. As in any other country, accommodation in Iceland varies wildly, catering to all types of travelers. 

Hostels, guesthouses, and budget hotels can set you back anywhere between $50 to $150 (€47 to €140) per night. 

If you prefer mid-range accommodation, you can enjoy comfortable hotels for around $150 to $300 (€140 to €280) per night. 

And for a touch of luxury, high-end hotels and resorts typically cost upwards of $300 (€280) per night.

Read our blog about the best luxury and boutique hotels in Iceland to find out more about accommodation options.

Hote borg exterior

How Much Does Food and Drink Cost in Iceland?

Ah, the joys of Icelandic cuisine! Dining out here is a real treat, but it’s no secret that it can be pricey. 

A meal at a mid-range restaurant might cost you around $20 to $50 (€18 to €47) per person, and that’s not including drinks. 

However, at more budget-friendly restaurants, this drops to around $15 to $30 (€14 to €28).

For the ultimate budget hack, consider buying groceries and whipping up some Icelandic delicacies yourself if your accommodation has kitchen facilities.

And it’s always a great idea to grab a quick bite at a local bakery or food truck to help you keep costs down. Our own Icelandic Sweet Tooth Tour visits some of Reykjavik’s best bakeries!

As for drinks, it varies depending on the type and location. A usual range is between $5 to $15 (€4.50 to €14).

For some local insights on this topic, check out our blogs The Best Fast Food Places in Reykjavik and The Best Restaurants Outside Reykjavik.

And if you’re looking to enjoy some local tipples, you’ll love our tips for the best bars in Reykjavik.

Woman buying food from red food truck in Reykjavik

How Much are Tours in Iceland?

Iceland is all about those thrilling adventures, and we know you won’t want to miss out!

Activities and tours come in all shapes and sizes, so whether you’re up for a leisurely soak in the Blue Lagoon, a heart-pounding glacier hike, or a serene whale-watching tour, there’s something for everyone. 

Prices vary depending on the activity and duration, ranging from $50 to $300 (€47 to €280) or more per person. 

It’s a good idea to plan your must-do adventures in advance and budget accordingly.

Browse our range of day tours in Iceland and find out how much excursions with Your Friend in Reykjavik cost.

Black jeep in desert

How Much is Transportation in Iceland?

To explore the nooks and crannies of Iceland, you’ve got multiple options. 

Renting a car gives you the freedom to chase waterfalls and volcanoes at your own pace, but be prepared to spend some krona. Gasoline in Iceland can be quite expensive, so factor that into your road trip budget. 

For a basic car rental, expect to pay anywhere from $64 to $160 (€59 to €149) per day.

If you’d rather not navigate the sometimes challenging Icelandic roads, public transportation, buses, and tours are available, but they may limit your access to more remote areas.

In Reykjavik, local bus fares typically start around $3.80 (€3.50). For longer trips, this rises to between $16 and $80 (€15 to €74) depending on your destination.

Taxi rides usually start with a fare of $6.40 to $8 (€6 to €7.40). Rides are then charged per kilometer. You should always check the fare with the driver before your journey begins.

Find even more vacation inspiration by reading our recommendations for the most unique experiences in Iceland.

Húsavík Original Whale Watching

The Little Things Add Up

Don’t forget about those miscellaneous expenses that tend to sneak up on you during your travels. 

Entrance fees to national parks and attractions, souvenirs to remember your Icelandic adventure, and travel insurance should all be part of your financial planning. 

It’s those little things that can turn an excellent trip into an unforgettable one.

Tjörnin is a Highlight of Every Visit to Reykjavik

How Much Does a Vacation in Iceland Cost?

So, what’s the bottom line? Budget travelers can get by on around $100 to $150 (€93 to €140) per day, while mid-range explorers should plan for roughly $200 to $300 (€186 to €280) per day. 

If you’re all about the luxury experience, well, the sky’s the limit! These are just ballpark figures, so your actual expenses will depend on your choices and priorities.

Keep in mind that prices can change over time, so it’s always a good idea to do some research and check the latest information and exchange rates before you pack your bags

And remember, Iceland’s beauty is priceless, so whether you’re on a budget or living lavishly, the memories you create here will be worth every penny.


Start Planning Your Vacation with Our Iceland Tours and Day Trips!

Now you have a better idea of how much a vacation in Iceland costs, it’s time to start planning your adventure!

Browsing our range of Reykjavik walking tours and Iceland day trips and tours is the perfect place to start.

And remember, Your Friend in Reykjavik is always here to help, so please get in touch if you have any questions.

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