Which place is cheaper, Cusco or Reykjavik?
These are the overall average travel costs for the two destinations. These travel costs come from the actual spending of real travelers.
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Should you visit Reykjavik or Cusco?
Which is cheaper to visit? Which is more expensive for vacation?
If you're trying to decide where to visit between Reykjavik or Cusco, this travel comparison, which includes costs, can help. The overall cost of travel is usually a consideration when deciding where to go next, and the cost comparison down below can help you decide based on the average prices from other travelers along with your own travel budget.
Where Should I go: Reykjavik or Cusco?
Reykjavik
Reykjavik is the capital and largest city in the country of Iceland. The city is where the vast majority of the country's population resides and the urban area has about 200,000 residents. The city is sprawling, with a large area covered in suburbs. The the city center is quite compact, with many interesting and colorful houses. There are a lot of things that attract tourists to this city, including an interesting culture and history as well as plenty of shopping and dining opportunities.
Cusco
Cusco is most famous as the historic capital of the Inca Empire. It is in the southern Sierras and is one of the most popular travel destinations within Peru. The city is located at 3,400 meters above sea level so it is best to acclimate yourself slowly to avoid altitude sickness.
Cusco is the starting point for many travelers making their way to the famed Machu Picchu or other Inca sites in the surrounding area.
The city is very beautiful and has impressive architecture throughout. The history is obvious as you walk around town and there are impressive ruins nearby, with the most impressive being Sacsayhuaman. The city also has a significant indigenous population that is obvious from their traditional clothing and style.
Cusco has a subtropical highland climate with a pleasant daytime temperature year around. There are two distinct seasons with the dry season being between May and August and the wet season between December and March. During the dry season there is plenty of sun with occasional nighttime freezes. Frost is less common in the wet season.
For some great organized tour ideas, see The Best Budget Tours to Iceland, The Best Tours for Seniors to Iceland, The Best One-Week (7-Day) Tours from Cusco, and The Best 3-Day Tours from Cusco.
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Reykjavik Prices
Iceland PricesCusco Prices
Peru Prices -
Average Daily Cost Per person, per dayReykjavik $298Cusco $66
The average daily cost (per person) in Reykjavik is $298, while the average daily cost in Cusco is $66. 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 Reykjavik and Cusco in more detail.
Accommodation
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Accommodation Hotel or hostel for one personReykjavik $155Cusco $25
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Accommodation Typical double-occupancy roomReykjavik $310Cusco $50
Compare Hotels in Reykjavik and Cusco
Looking for a hotel in Reykjavik or Cusco? 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: Reykjavik Hotel Prices and Cusco Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Reykjavik $51Cusco $11
Hired Cars and Shuttles in Reykjavik
Also for Reykjavik, here are a few examples of actual transportation services:
- From Reykjavik/Keflavik Airport: 1-Way Blue Lagoon Transfer: $31
- Private Transfer Between Keflavik Airport and Reykjavik locations: $35
- Keflavik Airport (KEF): Bus Transfer to/from Reykjavik: $38
- Airport Transfer: Keflavik Airport to Reykjavik Center in Iceland: $39
- Iceland Airport Transfer from Reykjavík Hotels to KEF Airport: $52
- From Reykjavík: Private Transfer From OR To Blue Lagoon: $59
- Roundtrip Bus Transfer to the Blue Lagoon: $59
- Blue Lagoon Return Bus Transfer from Reykjavik: $60
- Reykjavik Airport (RKV) to Bláfjöll - Arrival Private Transfer: $61
- Skálafell to Reykjavik Airport (RKV) - Departure Private Transfer: $61
- Reykjavík/Keflavík–Blue Lagoon, Silica & Retreat Transfer: $67
- Keflavik Airport (KEF): Private Transfer to/from Reykjavik: $70
Typical Local Transportation Prices in Cusco
Below are a few samples from actual travelers for transportation costs in Cusco:
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Taxi Ride$1.18
Hired Cars and Shuttles in Cusco
Some specific examples of transportation prices in Cusco:
- Transfers in Cusco secure and punctual service: $15
- Transfer to Ollantaytambo from Cusco: $75
- Transfer from hotel in Cusco to Airport Velasco Astete.: $12
- Transfer from Cusco to Urubamba Visiting Chinchero, Maras and Moray: $120
- Transfer from Cusco city to the airport: $15
- Transfer from Cusco Airport to Your Hotel: $25
- Transfer from Cusco Airport to Sacred Valley hotels: $34
- Transfer From Cusco Airport: $15
- Transfer Cusco to Urubamba: $40
- Transfer Cusco to Sacred Valley of the Incas: $36
- Transfer Cusco to Poroy: $20
- Transfer Cusco Airport to your Hotel in Cusco: $10
Is it cheaper to fly into Reykjavik or Cusco?
Prices for flights to both Cusco and Reykjavik 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
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Food Meals for one dayReykjavik $58Cusco $25
Typical Food Prices in Reykjavik
For Reykjavik, here are some examples of average food and meal prices for travelers:
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Dinner (Fish Market)$198
Food Tours and Cooking Classes in Reykjavik
For Reykjavik, here are some samples of tours and activities related to meals and dining experiences:
- Harbor Cruise with 3-Course Dinner: $137
- Food Tour by locals: $140
- Authentic Reykjavik Food Tour with Flea Market Delights: $146
- Icelandic Food Tour: $147
- The Reykjavik Harbor Food Tour: $147
- 3-Hour Shared Christmas Food Tour with Guide in Reykjavik: $149
- Food Tour with 6+ Tastings of Icelandic Classics: $154
- The Reykjavik Christmas Food Tour: $171
- Christmas Food Tour with Tastings and Drinks: $171
- Reykjavík All In One Food Tour - Eat, Drink & Explore with Locals: $204
- Private Reykjavik Christmas Food Tour: $241
- Private Vegetarian Reykjavik Food Tour: $241
Typical Food Prices in Cusco
Some typical examples of dining costs in Cusco are as follows:
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Sandwich$2.35
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Mango$0.59
Food Tours and Cooking Classes in Cusco
Also, here are some specific examples of food and dining related activities in Cusco.
- Short Peruvian Cooking Class by Pete: $30
- Cusco Tunupa Restaurant Folk Show with Dinner: $32
- Market-to-Table Peruvian Cooking Class and Cocktail in Cusco: $52
- Cusco Cooking Class by ChocoMuseo in Cusco: $54
- 3hr Cooking Class in Cusco with 7 traditional recipes & drinks: $55
- Peruvian Cooking Class Cocktails and Market Tour in Cusco: $65
- Cusco Cooking Classes and San Pedro Market Tour: $65
- Local Market and Peruvian Cooking Class with Pisco Sour in Cusco: $65
- Cooking Class in Ollantaytambo: $68
- Peruvian Cooking Class in Cusco: $69
- Cusco Street Food Tour and Pisco Tasting Experience: $69
- Best Cusco walking tour: dinner street food tasting: $74
Entertainment
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Entertainment Entrance tickets, shows, etc.Reykjavik $80Cusco $32
Typical Entertainment Prices in Reykjavik
Below are a few sample prices from actual travelers for Reykjavik's activities, tours, and tickets:
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Art Museum$12
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Wine and Spa$32
Tours and Activities in Reykjavik
For Reykjavik, here are a few prices for actual activities, tours, and tickets provided by various companies:
- Reykjavik History and Sightseeing Walking Tour: $16
- Caves of Laugarvatn Standard Tour: $16
- Reykjavík: National Museum of Iceland Entry Ticket: $21
- Reykjavik Art Museum Entry Ticket: $21
- Volcano Express Entry Ticket at Harpa: $24
- Mosfellsbæ: Authentic Icelandic Wool Yarn Factory Tour: $26
- Icelandic Phallological Museum Entry Ticket: $29
- Saga Museum Entry Ticket: $33
- Whales of Iceland Museum Entrance Ticket: $34
- Whales Of Iceland Admission Ticket: $34
- Uncomfortable Iceland — Alternative History Tour: $35
- Reykjanes Peninsula and Blue Lagoon Self-Guided Driving Tour: $40
Typical Entertainment Prices in Cusco
Some typical examples of activities, tours, and entrance ticket prices in Cusco are as follows:
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Salsa Class$2.94
Tours and Activities in Cusco
Some specific costs of activities, tours, and entrance tickets for Cusco are as follows:
- 1 Day Ausangate 7 Lagoons Hiking Tour & Hot Springs: $59
- 1 Day Classic Sacred Valley Tour With Buffet Lunch: $55
- 1 Day Rainbow Mountain Tour From Cusco: $60
- 1 Day Rainbow Mountain Walking Tour: $35
- 1-Day Humantay Lake Tour From Cusco: $60
- 1-Day Tour Rainbow Mountain from Cusco: $190
- 1-Day Tour Sacred Valley From Cusco: $120
- 2 Day Machu Picchu Tour by Car: $150
- 2 Day Tour to Machupicchu by Minivan: $145
- 2-Day Guided Tour of Ausangate Trek: $290
- 2-Day Private Tour Humantay Lake and Salkantay Pass: $179
- 2-Day Tour to Floating Islands and Puno From Cusco: $238
Alcohol
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Alcohol Drinks for one dayReykjavik $31Cusco $10
Typical Alcohol Prices in Reykjavik
Some typical examples of the costs for nightlife and alcohol in Reykjavik are as follows:
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Beer$9.76
Sample the Local Flavors in Reykjavik
Some specific costs for nightlife related activities in Reykjavik:
- Eimverk Distillery Guided Tour with Tasting: $48
- Craft Beer and Brewery Tour in Iceland: $48
- Reykjavík Pub Crawl Tour with Drinks and Games: $115
- Icelandic Bar Crawl Experience: $160
Sample the Local Flavors in Cusco
Also in Cusco, these are the prices for nightlife and alcohol related activities from various tour providers:
- Cusco Pub Crawl: Cusco Bar Hopping Experience: $22
When we compare the travel costs of actual travelers between Reykjavik and Cusco, we can see that Reykjavik is more expensive. And not only is Cusco much less expensive, but it is actually a significantly cheaper destination. Since Reykjavik is in Europe and Cusco is in South America, this is one of the main reasons why the costs are so different, as different regions of the world tend to have overall different travel costs. So, traveling to Cusco would let you spend less money overall. Or, you could decide to spend more money in Cusco 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 Cusco.
If you're trying to decide if either of these two destinations are within your price range, also see Is Reykjavik Expensive? and Is Cusco Expensive?.
Which is Bigger, Reykjavik or Cusco?
Cusco has a larger population, and is about 3 times larger than the population of Reykjavik. When comparing the sizes of Reykjavik and Cusco, 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.