Which place is cheaper, Reykjavik or Madrid?
These are the overall average travel costs for the two destinations.
Jump to 
Should you visit Madrid or Reykjavik?
Which is cheaper to visit? Which is more expensive for vacation?
Trying to figure out where to travel next? This travel comparison between Madrid and Reykjavik can help. It includes a travel cost comparison in addition to other factors. For many travelers, the cost of a destination is a primary consideration when choosing where to go.
Madrid
Madrid is a authentic, cultural, and diverse city. It's an amazing and huge city with tons of activities and things to do. Other reasons to visit include museums, nightlife, and live music.
Reykjavik
Reykjavik is a friendly, clean, and green city. Many visitors also come because of it's amazing beauty. Other reasons to visit include nightlife, hiking, and shopping.
Madrid and Reykjavik: Pros and Cons
Madrid
Pros- Popular museums and historical sights
- Popular for food and cuisine
- Active nightlife
- Good music scene
- Fun shopping
- Family-friendly
- Good for couples and romance
- Good for backpackers and budget travelers
- Good for students
- Good public transit
- Big city activities
Reykjavik
Pros- Active nightlife
- Good for hiking
- Family-friendly
- Good for couples and romance
- Good for backpackers and budget travelers
- Impressive beauty
- Home to the Thermal Pools
- Less popular for food
- Less popular for shopping
- Less popular for students
- Public transit not as usable
Is there more to do in Madrid or Reykjavik?
Travelers will usually find more to do in Madrid than Reykjavik, as it is bigger with more sights, attractions, and activities for visitors. Madrid is more popular for its museums, food, nightlife, music, shopping, and big city activities, while Reykjavik is known for its hiking and impressive beauty. Madrid is popular for its art and architecture, its tapas and culinary scene, and its lively flamenco dancing. It is also home to The Prado Museum. Reykjavik is popular for its proximity to natural beauty and many thermal pools, as well as its active nightlife scene and many festivals.
How is Madrid different from Reykjavik?
Which is Better for a Holiday?
Let's take a look at the differences and similarities between Reykjavik and Madrid. Then, you can decide for yourself which place is better for your next trip.
Are the Museums and Historical Sights Better in Madrid or Reykjavik?
Madrid
Reykjavik
Madrid is a nice place to visit for its museums and history. However, Reykjavik does not have museums and landmarks.
Madrid is a good place to visit if you're interested in museums or other recognizable sights. There are a number of cultural sights in the city including Museo Nacional del Prado, the Royal Palace and Gardens, and Museo Nacional Centro de Arte Reina Sofía.
Reykjavik does not have museums and landmarks.
Is the Food Better in Madrid or Reykjavik? Which Destination has the Best Restaurants?
Madrid
Reykjavik
Madrid is an amazing city to visit for its restaurants. However, Reykjavik is lacking in options for its restaurant scene.
Known for it's food and restaurant scene, Madrid is always at the top of any foodie's travel list. The city has a mix of flavors that come from all of Spain. There are amazing markets where you can grab a meal or snack. There are also many high quality restaurants around town where you're guaranteed a good meal. Local favorites include roast suckling pig, Spanish omelette, and meat and chickpea stew.
You'll find the standard options when it comes to food in Reykjavik. Traditional Icelandic food may not have the best reputation, but restaurants these days are pretty good with a variety of dishes to choose from. Popular foods in the area include fish, lamb, and Icelandic skyr (a type of yogurt).
Is Madrid or Reykjavik Better for Nightlife?
Madrid
Reykjavik
Madrid is an excellent place to visit for nightlife. Also, Reykjavik is not quite as popular, but is fairly good for nightlife and partying.
Madrid has a lively atmosphere and nightlife is popular here. Many tourists and international students hang out in the Huertas area, while Malasaña has a bohemian, hipster vibe with small clubs that play indie music. Chueca is a fun area that's known for being gay-friendly with many good bars. Finally, you'll find that the area around Avenida de Brasil is where famous DJs often perform.
Reykjavik has an active nightlife scene for those who seek it out. The city offers the best nightlife in Iceland and you'll be surprised at the number of clubs, bars, and craft breweries that you can choose from. Almost all of the popular nightlife spots are around Laugavegur, a major shopping street in town.
Is Madrid or Reykjavik Better for Music?
Madrid
Reykjavik
Madrid is an amazing city to visit for live music. However, Reykjavik is not a live music destination.
Madrid is known as a music capital around the world. Rock, jazz, and flamenco are all popular in the city. Some of the most well known music venues include Sala Caracol, Sala Clamores, and Costello Club.
Reykjavik is not a live music destination.
Is Madrid or Reykjavik Better for Hiking?
Madrid
Reykjavik
Reykjavik is renowned for hiking. However, Madrid is not a hiking destination.
Around Reykjavik visitors will find world-class hiking trails. The city offers easy access to some of the world's most spectacular scenery. There are many hikes that you can easily reach from town. They pass through diverse landscapes that include waterfalls, mountains, glaciers, and beaches.
Madrid is not a hiking destination.
Is the Shopping Better in Madrid or Reykjavik?
Madrid
Reykjavik
Madrid is an amazing city to visit for shopping. Also, Reykjavik is not quite as popular, but is fairly good for its shopping opportunities.
People travel from around the world to go shopping in Madrid. Gran Vía is a main thoroughfare in Madrid that is also popular for shopping. Calle Fuencarral is where you'll find the fashion shops and Calle Preciados is a fun pedestrian area to explore.
Reykjavik offers some nice shopping areas. The city's main shopping street is Laugavegur, which is where you'll find the most activity around town as well as a bustling atmosphere.
Is Madrid or Reykjavik Better for Families?
Madrid
Reykjavik
Both Madrid and Reykjavik are high quality to visit with kids.
Madrid is a very family-friendly destination. Kids love splashing around at Madrid Río, taking a ride on the cable car (Teleférico), and exploring the city's many parks and playgrounds. There's even a maze at Sabatini Gardens. Restaurants around the city are also very kid-friendly.
Reykjavik is a very kid-friendly city. With its many outdoor activities and hands on museums, the city is great for kids. The cafes and restaurants are family-friendly and their are plenty of entertainment options for the whole family.
Is Madrid or Reykjavik Better for Couples?
Madrid
Reykjavik
Both Madrid and Reykjavik are high quality destinations for a couple's getaway.
Madrid is a great city if you're traveling as a couple. Fun and romantic activities around town include taking a boat ride at Casa de Campo, riding a bike in one of the many parks, and enjoy dinner and show in the evening.
Reykjavik is a very popular place to visit for couples. There are museums, outdoor activities, and even the northern lights that make this city very romantic. The cafes are laid-back and the atmosphere is friendly.
Is Madrid or Reykjavik Better for Backpackers and Budget Travelers?
Madrid
Reykjavik
Madrid is an excellent place to visit for backpackers and budget travelers. Also, Reykjavik is not quite as popular, but is fairly good for backpackers.
Madrid is very popular with the backpacker crowd. The many hostels around town make it easy for backpackers to find affordable accommodation while also meeting other travelers.
Reykjavik is a good city to visit for backpackers. There are a number of hostels around town, but they can be pretty expensive. Transportation can also be pretty challenging for backpackers.
Is Madrid or Reykjavik Better for Students?
Madrid
Reykjavik
Madrid is an amazing city to visit for its student-friendly activities. Also, Reykjavik is not quite as popular, but is fairly good for students.
Madrid is a great destination for students. With several great universities, this city is popular with international and study abroad students. The city also has a diverse population and an active nightlife that appeals to students.
Reykjavik is popular with students. Students will enjoy a unique experience in this city. There are good academic programs as well as beautiful outdoor settings that you can explore.
Is Madrid or Reykjavik Better for Public Transit? Which Is Easier to Get Around Without a Car?
Madrid
Reykjavik
Madrid is an amazing city to visit for times when you don't have a car. Also, Reykjavik is not quite as popular, but is fairly good for its public transit.
Public transit in Madrid is top-notch. The system includes the Madrid Metro, buses, and a light rail system.
You'll find some public transit in Reykjavik, but it may not be enough to take you everywhere. There is a fairly comprehensive bus system around town.
Is Madrid or Reykjavik a more walkable city?
Madrid
Reykjavik
Madrid is an amazing city to visit for its walkability. Also, Reykjavik is not quite as popular, but is fairly good for its high level of walkability.
It's very easy to get around on foot in Madrid. Most tourists stay in the central part of Madrid where it's compact and relatively easy to walk to most tourist sights.
Reykjavik is a very walkable city. The city is small and compact, so it's easy to explore on foot.
For even more information, also check out Is Madrid Worth Visiting? and Is Reykjavik Worth Visiting?.
Should I spend more time in Reykjavik or Madrid?
How long in Madrid or Reykjavik?
In either Madrid or Reykjavik, you'll find plenty of activities to fill your time. In our opinion, Madrid has more to see and do, so we recommend that you spend more time in Madrid than Reykjavik. In general, 2-5 days is a good amount of time for Madrid, and 1-5 days is enough time in Reykjavik.
Families should spend more time in Madrid than Reykjavik. Because of the many family-friendly attractions and fun things to do for kids in Madrid, it's a great place to visit with the whole family.
Couples should spend more time in Madrid than Reykjavik. You'll find plenty of romantic sights and fun activities in Madrid that are great for a weekend getaway or a longer couple's trip.
Backpackers and budget travelers should spend more time in Madrid than Reykjavik if your budget allows for it. With a larger number of budget-friendly sights, good nightlife, and active things to do, anyone traveling on a budget would have a good time in Madrid.
-
How many days in Madrid or Reykjavik? Ideal Length of StayMadrid 2-5Reykjavik 1-5
One day in Madrid or Reykjavik?
People visit Madrid because there is so much to do. Since there is so much to do in the area, one day is probably not enough for all of it. It has many unique tourist attractions and fascinating things to do.
Many travelers enjoy the shopping and nightlife when visiting the destination of Reykjavik. Hikers are also drawn to this area. One day is often enough time to do most activities.
A weekend in Madrid or Reykjavik?
People visit Madrid because there is so much to do. This is a popular place to visit for a weekend.A weekend should give you a good understanding of everything this city has to offer. This city offers a variety of activities to choose from.
Reykjavik is a great place to explore. It is common to spend a weekend here. Don't miss the hiking, as that's what most people do. With all of its activities, you can easily fill a weekend here. Your budget might influence how long you stay.
Five days in Madrid or Reykjavik?
People visit Madrid because there is so much to do. The length of your ideal trip is an individual decision. If you have five days, this city makes for a great vacation. Five days should give you a good understanding of everything this city has to offer.
It's hard to know how much time to spend in Reykjavik. Don't miss the hiking, as that's what most people do. For many, it makes a great getaway for five days. Make sure you spend some time hiking while you're in the area. With all of its activities, you can easily fill five days here. It has many unique tourist attractions and fascinating things to do.
A week in Madrid or Reykjavik?
Madrid is a popular choice for travelers. One week is usually plenty of time to spend here with extra days to spare. With this much time, visitors often visit nearby destinations or take day trips. It will give you the chance to have new experiences.
Travelers enjoy the nightlife and shopping when visiting the clean destination of Reykjavik. This city offers a variety of activities to choose from. Many travelers plan to spend time hiking while in the area. Most people find that one week is more than enough time to see everything.
For some great organized tour ideas, see The Best One-Week (7-Day) Tours from Barcelona, The Best 10-Day Tours from Madrid, The Best Budget Tours to Iceland, and The Best Tours for Seniors to Iceland.
-
Average Daily Cost Per person, per dayMadrid €136Reykjavik €228
The average daily cost (per person) in Madrid is €136, while the average daily cost in Reykjavik is €228. These costs include accommodation (assuming double occupancy, so the traveler is sharing the room), food, transportation, and entertainment. While every person is different, these costs are an average of past travelers in each destination. What follows is a categorical breakdown of travel costs for Madrid and Reykjavik in more detail.
Accommodation
-
Accommodation Hotel or hostel for one personMadrid €77Reykjavik €129
-
Accommodation Typical double-occupancy roomMadrid €154Reykjavik €258
Compare Hotels in Madrid and Reykjavik
Looking for a hotel in Madrid or Reykjavik? Prices vary by location, date, season, and the level of luxury. See below for options and compare which is best for your budget and travel style.
Kayak helps you find the best prices for hotels, flights, and rental cars for destinations around the world. Compare prices for multiple destinations when planning your next trip.
Our Analysis
We've analyzed the average and typical hotel prices based on guest reviews, star ratings, and hotel amenities here: Madrid Hotel Prices and Reykjavik Hotel Prices.
Local Transportation
-
Local Transportation Taxis, local buses, subway, etc.Madrid €19Reykjavik €42
Typical Local Transportation Prices in Madrid
Some typical examples of transportation costs in Madrid are as follows:
-
Taxi Ride€26
Hired Cars and Shuttles in Madrid
Also for Madrid, here are a few examples of actual transportation services:
- Vehicle transfer with driver included in Madrid: $141
- Try find your better than us ! Airport transfer service in Madrid HTL-APT (MAD): $61
- Try find your better than us ! Airport transfer service in Madrid APT-HTL (MAD): $61
- Transfer to Madrid, travel calmly and comfortably: $144
- Transfer to Barajas Airport from Madrid: $76
- Transfer in private vehicle from Madrid City - Madrid Barajas Airport (MAD): $61
- Transfer in Private Vehicle from Madrid Barajas Airport (MAD) - Madrid City: $61
- Transfer from Barajas Airport to Madrid: $95
- Segovia: Full-Day Tour with Transfer to and from Madrid: $448
- Roundtrip Transfer Private Minivan Madrid Airport (MAD) - Madrid City: $149
- Round Trip Transfer from Madrid Airport MAD to Madrid by Sedan: $77
- Private transfer: Barajas Airport (MAD) to Madrid City Center: $29
Hired Cars and Shuttles in Reykjavik
Also for Reykjavik, here are a few examples of actual transportation services:
- Reykjavík: South Coast Guided Day Trip by Jeep with Transfer: $1,758
- From Reykjavik Port: Private Blue Lagoon Transfer: $1,050
- Blue Lagoon with Private Roundtrip Transfer: $472
- Door to Door Private Blue Lagoon Transfer: $305
- From ATV Ride and Blue Lagoon Tour with Transfer: $286
- Lava Tunnel Caving & Snorkeling in Silfra with Transfer | Free Photos: $283
- Private Luxury Airport Transfer Service: $277
- Private transfer: Reykjavik to Keflavik International Airport (KEF): $276
- Golden Circle Day tour and Sky Lagoon Transfer by Luxury VAN: $272
- Private Transfer from Reykjavik to Keflavik Airport : $272
- Private Airport Transfer from Reykjavik: $270
- Private Transfer from Cruise Ship Port to Keflavik Int. Airport : $270
Is it cheaper to fly into Madrid or Reykjavik?
Prices for flights to both Reykjavik and Madrid change regularly based on dates and travel demand. We suggest you find the best prices for your next trip on Kayak, because you can compare the cost of flights across multiple airlines for your prefered dates.
Food
-
Food Meals for one dayMadrid €34Reykjavik €28
Typical Food Prices in Madrid
Here are some examples of typical meal expenses from previous travelers to Madrid:
-
Coffee€2.00
-
Ice Cream€3.00
-
Kebabs (for 2)€16
-
Croissant€1.50
-
Lunch at Airport (for 2)€16
Food Tours and Cooking Classes in Madrid
For Madrid, here are some samples of tours and activities related to meals and dining experiences:
- Tipsy Tapas Food Tour with Drinks and Food: $27
- Drunken Tapas Food Tour with Dinner in Madrid: $32
- Tapas Dinner Party Food Tour with Guide: $33
- Tapas Crawl Food Tour with 6 Tapas and 4 Drinks: $35
- Torres Bermejas Flamenco Show in Madrid with Dinner, Tapas or Drink: $38
- Madrid Tipsy Tapas Guided Food Tour with Dinner: $42
- Paella and Sangria Workshop with Dinner and Drinks: $42
- Madrid Tipsy Tapas Tour with Dinner and Drinks: $42
- San Miguel Market and Street Food Tour: $52
- The Authentic Morning Madrid's Food Tour: $59
- Zarzuela Opera and Dinner at La Castafiore Restaurant in Madrid: $60
- Opera and Zarzuela Show and Dinner: $61
Typical Food Prices in Reykjavik
For Reykjavik, here are some examples of average food and meal prices for travelers:
-
Dinner (Fish Market)€165
Food Tours and Cooking Classes in Reykjavik
For Reykjavik, here are some samples of tours and activities related to meals and dining experiences:
- Icelandic Food Tour: $123
- The Reykjavik Christmas Food Tour: $127
- 3 Hour Shared Christmas Food Tour with Guide in Reykjavik: $129
- Reykjavik Market & Lunch Food Tour - BitesizedIceland.com: $141
- Reykjavik Old Harbor Food Tour - BitesizedIceland.com: $144
- Reykjavik Old Harbor Food Tour: $145
- Icelandic Cooking Class in Downtown Reykjavik with Musical Hosts: $296
Entertainment
-
Entertainment Entrance tickets, shows, etc.Madrid €34Reykjavik €67
Tours and Activities in Madrid
Also, here are some specific examples of entertainment, tickets, and activities for Madrid.
- Madrid Photo Tour with Pro Photographer Lifestyle and Portrait: $82
- Private Combo Tour Prado Museum and Reina Sofia: $221
- Toledo with Cathedral from Madrid Full Day Tour: $134
- "Prado Museum" Tour A Treasure of World Art: $65
- 1 Hour Private Tuk tuk Tour in Madrid: $98
- 1-Hour Private Flamenco Class in Madrid Experience: $45
- 2 Hour Madrid Walking Tour : $4.35
- 2 Hours Private Tuk tuk Tour in Madrid: $163
- 2-Hour Tour of the Madrid of Mysteries: $14
- 2.5-Hour Evening Tapas Tour through Madrid: $37
- 3 Hours Walking Tour in Madrid: $266
- 3-Hour Tapas Walking Tour of Madrid Food and Drink Included: $93
Typical Entertainment Prices in Reykjavik
Below are a few sample prices from actual travelers for Reykjavik's activities, tours, and tickets:
-
Art Museum€9.97
-
Wine and Spa€27
Tours and Activities in Reykjavik
For Reykjavik, here are a few prices for actual activities, tours, and tickets provided by various companies:
- WWII History Tour with a 1940's British Officer in Reykjavik: $148
- #1 Northern Lights Tour In Iceland from Reykjavik with PRO photos: $145
- 1 hour Reykjavík E-Scooter Adventure: $57
- 1-Hour ATV Quad Tour from Reykjavik: $131
- 1-Hour Helicopter Tour in Iceland: The Geothermal Tour: $434
- 1hr ATV & Golden Circle Adventure from Reykjavik: $276
- 1hr ATV Adventure & Caving from Reykjavik: $260
- 2hr Buggy 'Lava Field Adventure' from Reykjavik: $219
- 3-Hour Private Discover Reykjavik Photography Tour: $171
- 3hr Volcanic Springs ATV Adventure from Reykjavik: $299
- ATV - QUAD Adventure: $174
- Adventure in Landmannalaugar and Hot Springs - Reykjavík & Hella: $174
Alcohol
-
Alcohol Drinks for one dayMadrid €20Reykjavik €26
Typical Alcohol Prices in Madrid
Some typical examples of the costs for nightlife and alcohol in Madrid are as follows:
-
Beer€5.00
-
Drinks and Tapas (for 2)€13
Sample the Local Flavors in Madrid
Some specific costs for nightlife related activities in Madrid:
- Pub Crawl with Tapas and VIP Club Entry: $9.59
- Madrid Pub Crawl with VIP Club Entrance: $11
- Visit to the Winery with Wine Tasting and Appetizers in Navarra: $12
- Pub crawl & Party Tour Madrid: $14
- Pub Crawl Madrid Running since 2005 Bar Exploration: $16
- Guided Pub Crawl Madrid Experience and Club Entry: $16
- Pub Crawl Madrid-The Original since 2005-Shots-Fun-Clubs-Dance: $16
- Pub Crawl Madrid: $19
- Wine Tasting near Plaza Mayor: $22
- Pub Crawl Madrid: $22
- Wine Tasting Experience with 4 Spanish Wines: $26
- Wine Tour with tasting in the Natural Park of La Mata: $38
Typical Alcohol Prices in Reykjavik
Some typical examples of the costs for nightlife and alcohol in Reykjavik are as follows:
-
Beer€8.15
Sample the Local Flavors in Reykjavik
Some specific costs for nightlife related activities in Reykjavik:
- Gin Distillery tour and tasting: $25
- Eimverk Distillery Tour with Tasting: $32
When we compare the travel costs of actual travelers between Madrid and Reykjavik, we can see that Reykjavik is more expensive. And not only is Madrid much less expensive, but it is actually a significantly cheaper destination. So, traveling to Madrid would let you spend less money overall. Or, you could decide to spend more money in Madrid and be able to afford a more luxurious travel style by staying in nicer hotels, eating at more expensive restaurants, taking tours, and experiencing more activities. The same level of travel in Reykjavik would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Reykjavik than you might in Madrid.
If you're trying to decide if either of these two destinations are within your price range, also see Is Madrid Expensive? and Is Reykjavik Expensive?.
Which is Bigger, Madrid or Reykjavik?
Madrid has a larger population, and is about 30 times larger than the population of Reykjavik. When comparing the sizes of Madrid and Reykjavik, keep in mind that a larger population does not always imply the destination has more attractions or better activities. So, always research the type of place that you want to visit along with the activities and attractions that interest you.
Budget Your Trip is all about finding out how much everything costs so that you can travel cheaper and longer. Created by avid travelers Laurie and Bryan, our goal is to help you plan your next trip on the right budget. With average daily travel costs that are calculated from the budgets of real travelers, plus an analysis of hotel and tour prices, you can find out how much money you need to plan your next adventure. We also have plenty of travel advice, accommodation reviews, and activity suggestions.