Iceland · tool
How much does Reykjavik cost?
Daily budget breakdown across three tiers — so you can realistically plan your Reykjavik trip before you book anything.
Photo by Tom Podmore on Unsplash
Reykjavik, Iceland travel budget
Realistic daily cost per person across three spending tiers. All figures in USD.
Budget
$120–$190
per day
Hostels, street food, public transit
Accommodation
$40–$60
Hostel dorm bed or a very basic guesthouse room.
Food
$30–$50
Supermarket snacks, hot dogs, and occasional cheap eats like soup or sandwiches.
Transport
$10–$20
Walking within the city center, using public buses for longer distances.
Activities
$25–$35
Free walking tours, exploring parks, visiting a public pool, or a very cheap museum entry.
Misc
$15–$25
Souvenirs, occasional coffee, toiletries.
Mid-range
$250–$420
per day
3-star hotels, mix of restaurants, some taxis
Accommodation
$100–$180
Comfortable 3-star hotel or a well-located Airbnb apartment.
Food
$60–$100
Mix of casual cafes, mid-range restaurants, and perhaps one nicer dinner.
Transport
$30–$60
Occasional taxis, airport shuttle, or car rental for day trips.
Activities
$40–$50
Entry to popular museums, guided city tours, or a basic Golden Circle tour.
Misc
$20–$30
Moderate souvenirs, drinks, personal items.
Luxury
$500–$900
per day
4-5 star hotels, premium dining, private transfers
Accommodation
$250–$400
4-5 star hotel with amenities or a high-end boutique guesthouse.
Food
$100–$200
Fine dining, tasting menus, and premium drinks.
Transport
$50–$100
Private airport transfers, private tours, or premium car rental.
Activities
$50–$100
Exclusive tours, private guides, spa treatments, or premium excursions like whale watching.
Misc
$50–$100
High-end souvenirs, designer goods, premium beverages.
Destination-specific money tips
- •Credit cards are king in Iceland; you can pay for almost anything with Visa or Mastercard, even a single coffee.
- •Avoid using ATMs in tourist areas or at the airport if possible, as they may have higher fees. Use ATMs attached to local banks.
- •Alcohol is expensive, especially in bars and restaurants. Consider purchasing from the state-run liquor stores (Vínbúðin) if you plan to drink.
- •While tipping isn't expected, if you receive exceptional service, a small gesture is appreciated but not mandatory.
- •Groceries from supermarkets like Bónus or Krónan are your best bet for saving money on food, especially for breakfast and snacks.
Plan the rest of your Reykjavik trip
Trip budgets elsewhere