Which place is cheaper, Toronto or Reykjavik?
These are the overall average travel costs for the two destinations.
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Should you visit Reykjavik or Toronto?
Which is cheaper to visit? Which is more expensive for vacation?
If you're trying to decide where to visit between Reykjavik or Toronto, 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 Toronto?
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.
Toronto
The capital of Ontario and the most populated city in Canada, Toronto is a very popular travel destination for any number of reasons. It's positioned along the coast of Lake Ontario and has a population of more than 2.6 million with 6.2 million in the Greater Toronto Area. It's a very international and diverse city, with a very rich cultural history. More than half of the city's population was not born in Canada, and there are more than eighty different ethnic neighborhoods sprinkled throughout the city. The city is a center for music, theater, film, and television. It has countless museums, festivals, and sights that attract more than 25 million tourists every year.
For some great organized tour ideas, see The Best Budget Tours to Iceland, The Best Tours for Seniors to Iceland, The Best Northern Lights Tours in Canada, and The Best Luxury Tours to Canada.
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Average Daily Cost Per person, per dayReykjavik $246Toronto $205
The average daily cost (per person) in Reykjavik is $246, while the average daily cost in Toronto is $205. 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 Toronto in more detail.
Accommodation
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Accommodation Hotel or hostel for one personReykjavik $139Toronto $86
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Accommodation Typical double-occupancy roomReykjavik $278Toronto $172
Compare Hotels in Reykjavik and Toronto
Looking for a hotel in Reykjavik or Toronto? 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 Toronto Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Reykjavik $46Toronto $32
Hired Cars and Shuttles in Reykjavik
Also for Reykjavik, here are a few examples of actual transportation services:
- To/from Blue Lagoon Private Transfer in Iceland: $160
- The Blue Lagoon Comfort Package Including Transfer from Reykjavik: $167
- Sky Lagoon Entry with 7-Step Ritual and Transfers from Reykjavik: $115
- Skarfabakki Cruise Port to Keflavik Airport (KEF) - Departure Private Transfer: $92
- Skarfabakki Cruise Port Transfers To/From Keflavik Airport.: $161
- Skálafell to Reykjavik Airport (RKV) - Departure Private Transfer: $22
- Sky Lagoon Admission with Transfer: $125
- Roundtrip Bus Transfer to the Blue Lagoon: $45
- Private Transfer to/from Keflavík Airport: $169
- Private Luxury Airport Transfer Service: $280
- Private Airport Transfer - RVK to KEF: $54
- Private Airport Transfer: $167
Typical Local Transportation Prices in Toronto
Some typical examples of transportation costs in Toronto are as follows:
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Airport Shuttle$27
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Train: 2 Day Passes$16
Hired Cars and Shuttles in Toronto
Also for Toronto, here are a few examples of actual transportation services:
- Transfer Toronto,Canada (Downtown) to Niagara on the Lake,Canada: $178
- Transfer Toronto,Canada (Downtown) to Niagara Falls, Canada: $178
- Transfer Toronto Pearson International Airport YYZ to Niagara-on-the-Lake,Canada: $160
- Transfer Toronto Pearson International Airport YYZ to Niagara Falls, Canada: $160
- Transfer Private Vehicle from Toronto Pearson Airport to Niagara Falls (Ontario): $145
- Transfer Private Minivan from Toronto Pearson Airport to Niagara Falls (Ontario): $159
- Shuttle Transfer Between Downtown and Niagara Falls: $111
- Private Transfer to Niagara Falls: $158
- Private Transfer for 1-10 Passengers to Downtown: $176
- Niagara Falls Day Trip with Wine Tasting & Transfer: $75
- Express Train Transfer to/from Pearson Airport: $9.03
- Toronto Private Pearson Airport Transfers to Niagara Falls: $141
Is it cheaper to fly into Reykjavik or Toronto?
Prices for flights to both Toronto 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 $30Toronto $66
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)$178
Food Tours and Cooking Classes in Reykjavik
For Reykjavik, here are some samples of tours and activities related to meals and dining experiences:
- Exclusive dinner with a local family - Visit a Reykjavík home: $98
- Icelandic Food Tour: $124
- The Reykjavik Christmas Food Tour: $128
- 3 Hour Shared Christmas Food Tour with Guide in Reykjavik: $129
- Reykjavik Market & Lunch Food Tour - BitesizedIceland.com: $142
- Reykjavik Old Harbor Food Tour - BitesizedIceland.com: $145
- Private Reykjavik Christmas Food Tour: $209
- Icelandic Cooking Class in Downtown Reykjavik with Musical Hosts: $296
Typical Food Prices in Toronto
For Toronto, here are some examples of average food and meal prices for travelers:
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Lunch at St. Lawrence Market for Two$23
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Dinner at Mill Street Brewery (for 2)$56
Food Tours and Cooking Classes in Toronto
For Toronto, here are some samples of tours and activities related to meals and dining experiences:
- Must Do Toronto Food Tour: $66
- Toronto Food Tour: Taste the World in Kensington Market: $66
- 3–Hour Secret Food Tour: $73
- Toronto Walking Food Tour With Secret Food Tours: $74
- Scenic Harbor Cruise with Lunch, Brunch, or Dinner: $76
- Toronto's Fusion Food Tour: $80
- Kensington Market -Toronto's Neighborhood International Food Tour: $80
- Toronto's Fusion Food Tour: $80
- Father's Day Premier Cruise with Brunch or Dinner: $90
- Mother's Day Premier Cruise with Brunch or Dinner: $93
- Toronto Premier Dinner Cruise on Odyssey in Toronto Harbour: $109
- Toronto Food Tour with Local Foodie, Personalized & Private: $152
Entertainment
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Entertainment Entrance tickets, shows, etc.Reykjavik $72Toronto $31
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$11
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Wine and Spa$29
Tours and Activities in Reykjavik
For Reykjavik, here are a few prices for actual activities, tours, and tickets provided by various companies:
- #1 Northern Lights Tour In Iceland from Reykjavik with PRO photos: $145
- 1 hour Reykjavík E Scooter Adventure: $66
- 1 hour Reykjavík E-Scooter Adventure: $64
- 1-Hour ATV Quad Tour from Reykjavik: $131
- 1-Hour Helicopter Tour in Iceland: The Geothermal Tour: $438
- 1hr ATV & Golden Circle Adventure from Reykjavik: $276
- 1hr Buggy Adventure & Whale Watching from Reykjavik: $289
- 1hr Buggy Adventure from Reykjavik: $172
- 2-Hour RIB Boat Whale Watching Tour from Reykjavik: $169
- 2hr Buggy 'Lava Field Adventure' from Reykjavik: $219
- 3-Hour Private Discover Reykjavik Photography Tour: $172
- 3hr Volcanic Springs ATV Adventure from Reykjavik: $299
Typical Entertainment Prices in Toronto
Below are a few sample prices from actual travelers for Toronto's activities, tours, and tickets:
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Art Gallery of Ontario for Two$15
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CN Tower at night for Two$36
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Harbour Dinner Cruise$26
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Bata Shoe Museum (2)$7.32
Tours and Activities in Toronto
For Toronto, here are a few prices for actual activities, tours, and tickets provided by various companies:
- 1-Hour Private Guided Photography Tour in Toronto: $186
- 14-Minute Helicopter Tour Over Toronto: $200
- 2 Hour Toronto City Tour: $48
- 3-day Eastern Canada Tour from Toronto: $259
- 60-Minute Toronto Sightseeing Harbour Tour: $28
- 7-Minute Helicopter Tour over Toronto: $111
- Admission Ticket: Explore Canada in Miniature Scale: $34
- Algonquin Park Hiking: Adventure Tour from Toronto: $139
- Best of Niagara Falls Tour with Optional Boat and Helicopter Ride: $66
- Best of Toronto Small Group Tour with CN Tower and Harbour Cruise: $140
- Between Huntsville and Smartphone Audio Tour: $6.21
- Bus to Grotto - Tobermory Flowerpot Island Cruise Bruce Peninsula: $148
Alcohol
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Alcohol Drinks for one dayReykjavik $28Toronto $22
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$8.79
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
Sample the Local Flavors in Toronto
Some specific costs for nightlife related activities in Toronto:
- Distillery District Outdoor Escape Game: $8.07
- Distillery District Historic Walking Tour: $17
- Corktown and Distillery District Tour: $27
- Short Distillery District Segway Tour: $36
- Toronto : Distillery & Old Town Walking Tour With A Guide: $38
- Toronto Distillery District self-guided walking tour & hunt: $38
- Pub Crawl Toronto: $38
- Pub Crawl Toronto: $39
- Distillery District Breakfast Walking Tour: $41
- Craft Brewery Tour: $88
- Canadian Wine Tasting Experience: $128
- From Niagara Wine Tours: $131
When we compare the travel costs of actual travelers between Reykjavik and Toronto, we can see that Reykjavik is more expensive. And not only is Toronto much less expensive, but it is actually a significantly cheaper destination. Since Reykjavik is in Europe and Toronto is in North 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 Toronto would let you spend less money overall. Or, you could decide to spend more money in Toronto 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 Toronto.
If you're trying to decide if either of these two destinations are within your price range, also see Is Reykjavik Expensive? and Is Toronto Expensive?.
Which is Bigger, Reykjavik or Toronto?
Toronto has a larger population, and is about 40 times larger than the population of Reykjavik. When comparing the sizes of Reykjavik and Toronto, 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.
When is the best time to visit Reykjavik or Toronto?
Both destinations experience a temperate climate with four distinct seasons. And since both cities are in the northern hemisphere, summer is in July and winter is in January.
Should I visit Reykjavik or Toronto in the Summer?
Both Toronto and Reykjavik are popular destinations to visit in the summer with plenty of activities. The hiking and the family-friendly experiences are the main draw to Reykjavik this time of year.
Reykjavik is much colder than Toronto in the summer. The daily temperature in Reykjavik averages around 11°C (52°F) in July, and Toronto fluctuates around 21°C (70°F).
It's quite sunny in Toronto. Reykjavik usually receives less sunshine than Toronto during summer. Reykjavik gets 171 hours of sunny skies, while Toronto receives 281 hours of full sun in the summer.
In July, Reykjavik usually receives less rain than Toronto. Reykjavik gets 52 mm (2 in) of rain, while Toronto receives 69 mm (2.7 in) of rain each month for the summer.
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Summer Average Temperatures JulyReykjavik 11°C (52°F)Toronto 21°C (70°F)
Should I visit Reykjavik or Toronto in the Autumn?
Both Toronto and Reykjavik during the autumn are popular places to visit. Many travelers come to Reykjavik for the hiking trails, the shopping scene, and the natural beauty of the area.
Be prepared for some very cold days in Reykjavik. In the autumn, Reykjavik is much colder than Toronto. Typically, the autumn temperatures in Reykjavik in October average around 5°C (41°F), and Toronto averages at about 11°C (51°F).
In the autumn, Reykjavik often gets less sunshine than Toronto. Reykjavik gets 83 hours of sunny skies this time of year, while Toronto receives 153 hours of full sun.
Reykjavik usually gets more rain in October than Toronto. Reykjavik gets 86 mm (3.4 in) of rain, while Toronto receives 61 mm (2.4 in) of rain this time of the year.
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Autumn Average Temperatures OctoberReykjavik 5°C (41°F)Toronto 11°C (51°F)
Should I visit Reykjavik or Toronto in the Winter?
The winter attracts plenty of travelers to both Reykjavik and Toronto. Many visitors come to Reykjavik in the winter for the shopping scene and the cuisine.
Toronto can be very cold during winter. Reykjavik can get quite cold in the winter. In January, Reykjavik is generally much warmer than Toronto. Daily temperatures in Reykjavik average around -0°C (32°F), and Toronto fluctuates around -4°C (25°F).
Reykjavik usually receives less sunshine than Toronto during winter. Reykjavik gets 27 hours of sunny skies, while Toronto receives 87 hours of full sun in the winter.
In January, Reykjavik usually receives more rain than Toronto. Reykjavik gets 76 mm (3 in) of rain, while Toronto receives 52 mm (2 in) of rain each month for the winter.
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Winter Average Temperatures JanuaryReykjavik -0°C (32°F)Toronto -4°C (25°F)
Should I visit Reykjavik or Toronto in the Spring?
The spring brings many poeple to Reykjavik as well as Toronto. Most visitors come to Reykjavik for the natural beauty during these months.
Reykjavik can be very cold during spring. Reykjavik is much colder than Toronto in the spring. The daily temperature in Reykjavik averages around 3°C (38°F) in April, and Toronto fluctuates around 7°C (44°F).
In the spring, Reykjavik often gets less sunshine than Toronto. Reykjavik gets 140 hours of sunny skies this time of year, while Toronto receives 179 hours of full sun.
Reykjavik usually gets less rain in April than Toronto. Reykjavik gets 58 mm (2.3 in) of rain, while Toronto receives 63 mm (2.5 in) of rain this time of the year.
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Spring Average Temperatures AprilReykjavik 3°C (38°F)Toronto 7°C (44°F)
Typical Weather for Toronto and Reykjavik
| Reykjavik | Toronto | |||
|---|---|---|---|---|
| Temp (°C) | Rain (mm) | Temp (°C) | Rain (mm) | |
| Jan | -0°C (32°F) | 76 mm (3 in) | -4°C (25°F) | 52 mm (2 in) |
| Feb | 1°C (33°F) | 72 mm (2.8 in) | -4°C (26°F) | 48 mm (1.9 in) |
| Mar | 1°C (34°F) | 82 mm (3.2 in) | 1°C (34°F) | 60 mm (2.4 in) |
| Apr | 3°C (38°F) | 58 mm (2.3 in) | 7°C (44°F) | 63 mm (2.5 in) |
| May | 7°C (44°F) | 44 mm (1.7 in) | 12°C (54°F) | 67 mm (2.6 in) |
| Jun | 10°C (49°F) | 50 mm (2 in) | 18°C (64°F) | 68 mm (2.7 in) |
| Jul | 11°C (52°F) | 52 mm (2 in) | 21°C (70°F) | 69 mm (2.7 in) |
| Aug | 11°C (52°F) | 62 mm (2.4 in) | 21°C (69°F) | 81 mm (3.2 in) |
| Sep | 8°C (46°F) | 67 mm (2.6 in) | 17°C (62°F) | 75 mm (3 in) |
| Oct | 5°C (41°F) | 86 mm (3.4 in) | 11°C (51°F) | 61 mm (2.4 in) |
| Nov | 1°C (35°F) | 73 mm (2.9 in) | 5°C (41°F) | 70 mm (2.8 in) |
| Dec | 0°C (32°F) | 79 mm (3.1 in) | -1°C (30°F) | 75 mm (2.9 in) |
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.