Costs in Iceland - How much does a trip to Iceland cost?

Iceland is an expensive place. At least, that’s what you think when you think of this travel destination, right? In the following article, we’ll reveal the costs in Iceland and show you what our tour cost. You’ll learn what expenses you can expect and roughly how much money you should budget for your Iceland tour. Yes, Iceland is a very expensive travel destination. There’s no sugarcoating it. We often held our heads and couldn’t believe the price tags.

But with a few tricks and tips, you can save a lot of money in Iceland, too. Of course, it depends heavily on how you travel on the island. And to sum up: It was a unique trip, a breathtaking adventure that was worth every euro!

Other important Iceland topics:
1. Cost table for Iceland
2. Arrival and departure
3. Rental car and petrol
4. Accommodation and camping
5. Food and shopping
6. Tours and excursions
7. Miscellaneous
8. Equipment and gear
9. Conclusion and total expenses
Our travel diary on YouTube

1. Cost Table for Iceland

2. Arrival and Departure

The costs for arrival and departure cannot be generalized, as they vary greatly. We booked our flights to Iceland 10 months in advance. We never book this early, but the price was too good not to jump at it. We paid just €114 per person for the round-trip flight to Iceland.

20 kg of luggage was already included in the price. That’s the good thing about the airline Germania – one piece of checked luggage and one piece of hand luggage is included in the price. We flew from Bremen, so we also had to pay the travel and departure costs for Bremen. In total, we only spent €100 on the bus and train tickets. In the end, we only spent €164 per person for everything. Update: The airline Germania unfortunately no longer exists.

Flights to Iceland are generally very cheap these days. With Icelandair, WOW Air, or Easyjet, you can fly to the island very cheaply. However, with most low-budget airlines, baggage is not included in the cheapest fare. With luggage, the supposed bargains are usually no longer bargains. Flight prices to Iceland also depend heavily on the month of travel. Some people pay as much as €350 to €500 for flights during peak season. We flew at the end of August and, including luggage, definitely got a great deal.

3. Rental Car and Gas

The topic of “rental cars for Iceland” gave us the most headaches beforehand, as we had no idea what the situation in Iceland was like. An SUV was completely out of the question for us, so we opted for an inexpensive small car including all the essential insurance. The sooner you book it, the better. During our period, the rental car cost €576 for 14 days, including fully comprehensive insurance with no deductible and including damage to glass, roof, tires, underbody, and clutch.

We drove around the island once and made a few detours. In the end, we drove 2,289 kilometers. With 6.3 liters of gasoline, the fuel costs were approximately €255. We mostly filled up at “Orkan” because the prices were cheapest there. A liter of gasoline cost between 219 and 222 Icelandic Krona (€1.70 – €1.73). At some other gas stations, it even cost €1.82. In addition, there were 1,000 Krona (€7.78) for the tunnel north of Reykjavik toward Akranes. Otherwise, there were no other costs for roads or tunnels. ▷All information about rental cars, refueling, and roads.

Update 03/2025: Currently, a liter of gasoline costs only around €1.59.

4. Accommodation and Camping

Accommodation is really expensive in Iceland. For one night in a small room with a double bed near the airport, we paid a whopping €95. Due to the storm, we had to stay in accommodation the second night as well, which added another €66. For our night on the Westman Islands, we paid €79 for a cool glamping cabin. We slept in our tent for the rest of our time (11 nights).

With the so-called Camping Card for €149, you can stay at 42 campsites around the island during the season. On-site, you only pay 333 ISK in taxes per accommodation unit (tent, van, caravan, etc.). We spent a total of €25.90 here. Disclosure: The Camping Card was provided to us free of charge. ▷All information about camping in Iceland.

Camping-auf-Island-Glamping-Westmaennerinsel

5. Food and Shopping

To be honest, we thought shopping in Iceland would be significantly more expensive. Since we held back on meat, sausage, and cheese, our shopping costs in Iceland were completely reasonable. With a few exceptions, we shopped at the Bònus supermarket. The prices were significantly cheaper than at Kronan or Netto. In total, we only spent 155.94 € in the supermarket. We had brought a lot of packet soups, pasta, sauces, spices, and ready meals with us from Germany (goods value €30).

Prices Bònus Supermarket (as of September 2018):

Toast (1000 grams) = 279 kroner (€2.19)
Rolls = 150 kroner (€1.17) each
1 liter of milk = 145 kroner (€1.13)
2 liters of still water = (€0.54)
Bottle of cola = 219 kroner (€1.71)
10 pack of eggs = 398 kroner (€3.11)
1 kilo of pasta = 179 kroner (€1.40)
Large glass Tomato sauce = 159 kroner (1.25 €)
Green pesto = 295 kroner (2.31 €)
Minced meat (500 grams) = 700 kroner (5.48 €)
Kilo of bananas = 215 kroner (1.69 €)
Kilo of apples = 276 kroner (2.09 €)
Pack of cheese from = 698 kroner (5.46 €)
Cream cheese = 245 kroner (1.92 €)
Sliced cheese (330 grams) = 700 kroner (5.48 €)
Jam = 179 kroner (1.40 €)
Chocolate spread = 298 kroner (2.33 €)
Chocolate cookies = 119 kroner (€0.93)
750g cornflakes = 295 kroner (€2.31)
Milka chocolate = 179 kroner (€1.40)
Gummy bears = 259 kroner (€2.03)

We rarely went for a coffee or treated ourselves to something at a snack bar. Only on our last day in Reykjavik did we spend more than €50 (about €30 at Subway, €10 for hot dogs, €10 for a coffee shop). You can get a coffee from a vending machine for just 100 kroner (€0.78). In a café, you’ll pay between 500 and 700 kroner (€3.91 – €5.48) for a cappuccino. The total was €82.33 for the entire 14 days.

6. Tours and Excursions

In this category, Iceland is truly affordable, as most activities and highlights are free. Tours, of course, cost a fortune. We went whale watching in Hauganes in the North of Iceland and paid €154 for both of us. The tour lasted 3 hours and was simply breathtaking. We also visited thermal baths 4 times, for which we spent €35.78. Our ferry trip to the Westman Islands also cost money, of course. We paid €42.91 for two people there and back. ▷ You can find numerous tours and excursions at Guide to Iceland* and also at GetYourGuide*.

7. Miscellaneous

In Iceland, we bought a SIM card for €28.77 (10 GB from Siminn). Added to this are the costs for the gas cartridge (€13.18) and souvenirs from Reykjavik (€9.25). We had already brought many things with us from Germany, such as batteries for our tent lamp, the gas stove, camping equipment, bandages, and other useful items (see packing list). Furthermore, there are the costs for showering and laundry, totaling €19.19.

8. Equipment and Gear

These costs, of course, only apply if you don’t already have any camping equipment. For this reason, we have not included them in the total bill. Furthermore, these costs vary greatly, depending on the tent you use, the sleeping mat you buy, and the sleeping bag you buy. The choice of hiking boots, jackets, and pants is also entirely individual and certainly a matter of taste. In a separate article, you’ll learn everything about our equipment, our clothes, and what else we brought with us in Iceland. ▷ Our packing list for Iceland.

9. Conclusion and Total Expenses

If we add everything up, we arrive at a whopping €2,197.72, or €1,098.66 per person. For just under €1,100 per person, we were able to travel through Iceland for 14 days. An absolute bargain by Icelandic standards. It’s around €79 per person per day if you’re traveling with a small car and sleeping mostly in a tent. We didn’t regret a cent and would do the trip again. We were able to save a lot of money by self-catering and camping.

If you prefer to stay in accommodations, expect to pay at least €80 or more per night. An SUV (off-road vehicle) for the highways and the highlands can easily cost €2,000 to €2,500 for 14 days during peak season. During the off-season, everything is considerably cheaper. If you travel during peak season from June to August, you can expect significantly higher costs.

But no matter what a customized trip to Iceland ultimately costs, it’s worth it! The country is beautiful and takes your breath away every day. A new highlight and adventure awaits you around every corner. Iceland’s unique landscapes are hard to describe in words. We believe that everyone should travel to Iceland at least once in their life. This country simply has to be experienced and seen.