How much does a trip to Iceland Cost?
The Cost of a Trip to Iceland
A trip to Iceland for one person usually costs between $100 and $538 per day and $200 to $1,077 for two people. This is a wide range of costs, and the daily average per person from our data is $232 (kr31,842) per person. This average includes food, accommodation, sightseeing, and local transportation expenses contributed from other travelers. Prices can vary based on travel style and activities. While the overall price for a trip to Iceland is dependent on your personal travel style and the specific places you visit, if you book standard accommodation and travel with an average level of convenience, then your budget should be somewhere within this range. Also, the prices for individual destinations such as Reykjavik, Akureyri, and Hofn may vary, but generally fall somewhat close to this range. Below you can find a breakdown of travel expenses by category, plus a comparison of guided tour costs versus traveling independently.
How much money should you budget for your trip to Iceland?
For budget travelers in Iceland, planning for around $100 (kr13,765) per day should cover essentials such as accommodations in hostels and budget hotels, affordable meal options, local transportation, and engaging in various activities. If you're a mid-range traveler, setting aside around $232 (kr31,842) per day would allow for more comfortable stays in typical hotels, dining at regular restaurants, and exploring a diverse range of popular attractions. Luxury travelers, on the other hand, should consider a daily budget of approximately $538 (kr73,959) to accommodate higher-end hotel stays, dining at nicer restaurants, and indulging in more exclusive private tour options. It's important to note that these price ranges are derived from our extensive travel cost data for Iceland, which is based on valuable insights from other travelers as well as hotel and tour data provided by travel companies. For a more detailed breakdown of travel costs, you can refer to our comprehensive travel cost data for Iceland.
| 3 Days | 7 Days | 14 Days | |
|---|---|---|---|
| Accommodation1 | $288 | $672 | $1,344 |
| Intercity Transportation1 | $241 | $563 | $1,126 |
| Local Transportation1 | $93 | $217 | $433 |
| Food2 | $175 | $409 | $819 |
| Water2 | $22 | $51 | $102 |
| Entertainment1 | $127 | $297 | $594 |
| Souvenirs1 | $47 | $110 | $220 |
| Communication2 | $68 | $159 | $318 |
| Living Expenses2 | $686 | $1,601 | $3,203 |
| Alcohol2 | $46 | $108 | $216 |
| Tips and Handouts1 | $321 | $749 | $1,497 |
How much does a one week trip to Iceland cost?
When planning a one-week trip to Iceland, most visitors to Iceland spend between $701 and $3,768 for their trip, with the average cost falling around $1,622. This estimate includes essential aspects such as sightseeing, local transportation, food, and accommodations. With a full week, you'll have sufficient time to explore one, two, or possibly three locations within Iceland, depending on the amount of time you want to spend in each place. The most popular places worth considering are Reykjavik, Akureyri, and Hofn. Keep in mind that these numbers are based on overall averages and may vary depending on your individual preferences.
Godafoss Waterfall
How much does a two week trip to Iceland cost?
With two weeks, you should budget between $1,403 and $7,537 for your trip to Iceland. The average price for a two week trip is $3,245. Two weeks will allow you enough time to visit between three and five places. If you're on a budget, you might want to consider some of the more affordable places such as Akureyri.
How much does a one month trip to Iceland cost?
When embarking on a month-long trip to Iceland, expenses can range from $3,006 to $16,150, with an average cost falling around $6,953. For those fortunate enough to have a full month, considering a vacation rental with a kitchen for at least a portion of your stay can help save money with meals. Backpackers often opt for hostels due to their affordability and the added benefit of a social vibe.
Hostel Prices in Iceland
With more than 20 hostels in Iceland, the average price is $44 per night for a dorm bed. Hostels are a terrific option for younger independent travelers looking to save money while staying social during their trip. With many types of hostels, it can be overwhelming to sort out the best places, though. Our analysis of the hostels in Iceland not only found the average price, but also uncovered some surprises about the overall quality, amenities, and atmosphere of hostels in the region. You can see more details from our analysis about typical hostel prices in Iceland here.
| Number of Hostels | Average Price | |
|---|---|---|
| Reykjavik | 11 | $41 |
Here are a few sample prices from popular hostels in Iceland.
- $31 for a dorm bed at KEX Hostel in Reykjavik
- $65 for a dorm bed at Hafnarstraeti Hostel in Akureyri
Hotel Prices in Iceland
You'll find a wide range of hotel options across Iceland. Below are prices for some of the destinations, and for more details see our analysis of hotel costs in Iceland.
| City | Average Hotel Price |
|---|---|
| Husavik | $271 |
| Reykjahlid | $198 |
| Borgarnes | $197 |
| Seydisfjordur | $190 |
| Akureyri | $187 |
| Hella | $160 |
| Selfoss | $159 |
| Keflavik | $154 |
| Laugarvatn | $136 |
| Reykjavik | $131 |
Reykjavik, Iceland
Should you do an organized tour or travel independently in Iceland?
When planning a trip to Iceland, there are two primary options to choose from: organized tours and independent travel. Organized tours offer a convenient and hassle-free experience, as all the details of your trip are handled by travel experts. Additionally, you'll have the benefit of an expert guide who can provide valuable insights and knowledge during your journey. This option is often favored by travelers who appreciate the convenience and ease it offers, with many tours providing transportation and expert guides to enhance the overall experience.
On the other hand, independent travel provides a different set of advantages. It offers a higher level of freedom and flexibility, allowing you to customize your itinerary and explore at your own pace. This option appeals to travelers who value the ability to make spontaneous decisions and have more control over their travel plans. The independence of traveling on your own can provide a sense of adventure and the opportunity to immerse yourself in the local culture on a deeper level.
Ultimately, the choice between organized tours and independent travel depends on your personal preferences and travel style. Consider your desired level of convenience, the amount of guidance you prefer, and the level of flexibility you seek when making your decision. Both options have their own merits, and the decision should be based on what aligns best with your travel goals and preferences.
Comparing Trip Costs in Iceland
When we compare the prices of organized tours to the average costs of independent travelers, we can see that sometimes the prices are fairly even.
| Organized Package Tours | Independent Travel | |
|---|---|---|
| 3-Day Trip Cost | $270 - $4,020 | $301 - $1,615 |
| 7-Day Trip Cost | $989 - $7,511 | $701 - $3,768 |
| 10-Day Trip Cost | $1,484 - $19,249 | $1,002 - $5,383 |
| 14-Day Trip Cost | $10,095 - $37,390 | $1,403 - $7,537 |
Tours vs. independent Travel: Pros & Cons
Organized Tours
Pros- An expert guide familiar with the culture
- Convenient transportation
- Fellow travelers to socialize with
- Well researched activities
- Efficient and thought out itinerary
- The security of have a trip leader if something goes wrong
- Limited options
- Usually not customizable
- The fast pace often means you can’t visit one place in depth
- Usually more expensive than independent travel
- There may be limited time to interact with the local culture and community
Independent Travel
Pros- Completely customizable
- Opportunity to visit off-the-beaten-path destinations
- Can fully immerse yourself in the local culture
- Freedom to move at your own pace
- Flexibility to change your itinerary at any time
- More affordable
- Challenging to plan an efficient itinerary
- Transportation may be challenging or inefficient
- Booking and trip planning can be a hassle
- Popular sights may sell out well in advance
- If something goes wrong, you're on your own
Are organized tours more expensive than independent travel in Iceland?
Organized tours typically average around $536 per day and provide the convenience of an all-inclusive package with one comprehensive payment. On the other hand, independent trips usually average around $232 (kr31,842) per day and involve individual payments for accommodations, local transportation, meals, and sightseeing. Both organized tours and independent trips have their own unique challenges and benefits, so it's crucial to thoroughly understand the aspects of each to make a fair comparison. For a detailed analysis of tour prices in Iceland, check out our comprehensive guide on tour prices in Iceland here.
Here are a few sample tours in Iceland:
-
5 Days Self-Drive | Golden Circle, South Coast (Winter) ($978)
5 days, 11 destinations -
17 Days Self-drive | Complete Iceland Tour ($5,404)
17 days, 31 destinations -
The Great Round Tour: Around Iceland in 13 days ($4,334)
13 days, 30 destinations -
12 Days Grand Tour of Iceland ($6,120)
12 days, 37 destinations -
10 Days Iceland Ring Road In-depth - Private Tour (Winter) ($10,111)
10 days, 20 destinations
More for Iceland
If you're planning a trip to Iceland, check out these other informative travel guides.
We've been gathering travel costs from tens of thousands of actual travelers since 2010, and we use the data to calculate average daily travel costs for destinations around the world. We also systematically analyze the prices of hotels, hostels, and tours from travel providers such as Kayak, HostelWorld, TourRadar, Viator, and others. This combination of expenses from actual travelers, combined with pricing data from major travel companies, gives us a uniqe insight into the overall cost of travel for thousands of cities in countries around the world. You can see more here: How it Works.
1 Categories averaged on a per-item basis.
2 Categories averaged on a per-day basis.
For example, the Food2 daily average is for all meals for an entire day, while Entertainment1 is for each individual purchase. Thus, the overall daily average cost is not a summation of the individual categories.
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.
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