You might have heard that Iceland is a high-priced place to visit. But this all depends on how you plan your trip and your budget. Here are some ideas on how to travel to Iceland on a budget.
When looking for flights to Iceland, always have in mind the time frame from when you are planning your trip, and when you are flying. It shouldn’t be that close, and not even that far away (we can be talking about a year before traveling).
Now with WOW Air out of business, flights are continuing to be a little bit expensive. Companies such as Icelandair, Norwegian Air International, Lufthansa, and United offer good deals depending on where are you traveling from. Prices may vary, but they can oscillate from 300 to 600€ (40,000 to 82,000 ISK) roundtrip.
It will always depend on the type of trip you are looking for, and where you are staying. The majority of tours include a pick-up and drop-off on specific locations in Reykjavík and other towns. You will find different options like buses, vans, and even private drive tours.
To get around Downtown Reykjavík and other closeby cities, you can use public transportation such as buses or taxis. Cabs can be kind of pricey, so just use them if you really need them maybe very late at night, if you are with a large group of people or to get to/from the airport if you don’t want to take the bus or rent a car.
A one-way bus ticket in Reykjavík costs 3.50€ (460 ISK).
You can buy the bus pass if you are planning on taking the bus many times for 12.800 ISK (92€) for the monthly card. Another option is to buy 20 tickets for a total of 9.100 ISK (66€).
If you are more of an adventurous soul and you are looking to travel all around the country, renting a car is the best solution. The price depends on the size of the vehicle. You can find a small one from 80€ a day or a bigger one for seven people from 250€ a day. Due to the weather, precautions need to be taken care of, and it is vital for you to have an insurance provider. Also, we highly suggest adding the SAP (Sand and Ash Protection) for coverage for the wheels, and the Windshield Protection. The cost of both of these can be around 20€ per day approximately. If you are traveling during the wintertime, it would be better if you rent a 4×4 or an SUV.
Need to rent a car? Click here!
Iceland offers a vast variety of places to stay, and of course, it always depends on what you are looking for your stay. Staying in Reykjavík or the city center can be more pricey, especially if it is in a hotel. In Iceland, you can find different options such as hotels, hostels, apartments, guesthouses, villas, cabins & lodges, and even camping sites. Each town and type of accommodation changes in prices depending on the number of people and the chosen location. You can check some of the options here.
If you are looking for the cheapest choice, hostels and guesthouses can be really good alternatives. Hostels can start 20€ a night in Reykjavík in a 12-bed mixed room, or 44€ a night in a 4-bed mixed room. Guesthouses start at 170€ for a 2-night stay.
You can also go camping. There are a lot of designated camping sites for 8 to 25€ a night.
Great news! You don’t need to buy bottled water in Iceland because you can drink tap water. Travel with your own plastic or glass bottle for the whole trip, and it will save you at least 5€ per day, depending of course on how much water you drink.
In Iceland, it is not common to pay in cash. Sometimes it can be much more expensive to change your euros or dollars to the Icelandic króna due to the high rates. So it is way better if you pay by credit or debit card, and it is perfect because every place accepts them.
Go to the grocery store (the best chain stores like Nétto, Bónus, or Kronan) and buy food to cook if you can. Iceland has a great variety of fresh and canned fish, and we highly recommend you to try some. It is more about what you want to cook and what you like, but as an option in Iceland, buying your groceries will help you a lot with money. Most hostels and guesthouses include shared kitchen facilities, so you will have space and utensils to use.
Consider that having a pizza, a burger, or a hot dog, which can be the cheapest foods when eating out, they can be between 5 and 15€. Dinner for two in a simple Mexican or Italian restaurant with drinks can be a minimum of 50€. A cappuccino can be 4 to 6€.
Here is a list of some basic things of the grocery store for you to have in mind the prices:
– 500g of White Bread 2.40€
– 1L of Milk 1.10€
– 12 Eggs (Regular size) 4.50€
– 1kg Bananas 1.70€
– 1kg of Chicken Breasts 14.05€
– Bottle of Wine 19€
– Coca-Cola/Pepsi 33cl 2.30€
Most of the things you will do in Iceland is visiting the natural landmarks, and these are all for free. There are no fees for Natural Parks. You can decide to skip the pricey Blue Lagoon (around 80€ per person) and enjoy all the natural hot springs in the country, and other attractions are just in nature so you don’t need to pay a guide if you can do it by yourself. Hiking is also a free activity, but if you are thinking about doing a challenging route, please be careful, and hopefully, you have some experience.
Roundtrip Flights for 2: 800€
Rent a Car: 560€ + Gas 140€ approx.
Hostel for six nights for 2: 240€
Groceries for 2: 200€
Eating Out (snacks, coffee or cheap food) for 2: 160€ (20€ per day)
TOTAL: 2,100€
This is maybe the cheapest way to travel to Iceland. Have in mind that prices in flights can change and that there are no paid tours included in this budget. We hope you enjoy Iceland on a budget.
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