How Much Does It Cost to Go to Iceland?

Iceland is one of the most expensive countries in the world. They have to import almost all their goods including things like gas, and most fruits and vegetables. Now I knew Iceland was going to be expensive before we went, but I was a little bit shocked after totaling up all our costs! Thomas and I spent 11 days/10 nights in Iceland and while almost all of our trip was DIY (aka no tours and minimal activities), this was by far the most expensive trip I’ve ever taken in my life.

I’ve written a cost breakdown here, so you can have a better estimate on how much a trip to Iceland costs. I didn’t list out every single item, but tried to take all the “big” costs into account. I also didn’t note down the costs in ISK while I was there, so this is referencing my credit card statement once I received the bills in USD.

Transportation

• Literally $74.33 a day for gas alone. Don’t forget gas is $8 a gallon! If you didn’t know that, here’s 7 other things you should know before you go.

Activities

• We got extremely lucky and saw all kinds of rare whale sightings, but for the average experience I would say this one isn’t particularly necessary.

• I loved this, but Blue Lagoon is hotly debated as an overhyped destination. If you’re unsure, I’ve written an article here about whether or not it’s worth visiting.

• This one you cannot do on your own, you must go with a guide. The price is certainly hefty, but I enjoyed this and thought it was a super unique experience!

Lodging

• Reykjavik: $425.30 (4 nights) or $106.33/night
• Skogar: $191.44 (2 nights) or $95.72/night
• Hofn: $131.44/night
• Myvatn: $201.12/night
• Snæfellsnes: $125.68/night
• Reykjavik: $85.87/night

Dining and Groceries

• $71.22/day for 2, or $35.61/day/person

• $2076.51 per person for the whole trip
• $188.77/day/person

I’m definitely not used to spending over $100/day on my usual trips, but with Iceland it really couldn’t be helped. If you’re looking to travel Iceland on more of a budget, I’d say the best places to cut costs would be food and activities. Cooking your own food or buying prepackaged food at grocery stores or gas stations will save you a massive amount in the dining category. And of course you can cut out activities if need be. (It’s also possible to cut down on lodging fees if you’re traveling by campervan, but it might raise your gas fees too.)

I hope the cost transparency breakdown helps in planning and budgeting for your own Iceland trip! This one’s definitely not a budget destination, but I’m still glad we shelled out the money and went. Even if you come back with your wallet severely damaged, I can promise the dramatic landscapes will have been worth it.