Considered one of the most expensive countries in the world and in Europe, Iceland is often in the top 3 with Norway and Switzerland. The geographical situation of this island, its small population and its small industry, as well as its Scandinavian social system favors the important cost of living, but in return the salaries are also much higher there than in France. On the other hand, in comparison to Switzerland, the levels are quite similar.
There are also many local differences with a higher cost of living in Reykavik and the major cities in general than in the rest of the country.
According to various sources, the cost of living in 2020 would be between 30 and 45% higher than in France! In 2016, the average gross monthly income was 4000 euros in Iceland, compared to 2700 euros in France.
The budget of a trip
With these data, it is not surprising that a trip to Iceland is expensive, even very expensive. You should therefore plan a good budget if you want to make the most of your stay there, without restricting yourself too much. It can also be interesting to shift the dates of your vacation to take advantage of more advantageous rates, especially for tickets, accommodation and car rental.
Airline prices
This is probably the cheapest part of the trip, a flight from Paris to Reykjavik or other cities in Europe does not cost much more than flights to other cities for the same distance. It is often necessary to count 100 to 200 euros per person, but it is possible to find cheaper with low-costs like Transavia.
To take advantage of the best airfare, it is necessary to order in advance, not to leave during school vacations or during the weekend.
The average budget for an airplane flight:
- between France and Iceland is about 100 to 200 euros depending on the period and it can go down to 50 euros for the cheapest to more than 450 euros.
- between Belgium and Iceland is about 100 to 200 euros, the rates are very close to France.
- between Switzerland and Iceland is about 150 to 300 euros, so they are higher than in France and Belgium.
- between Canada and Iceland is about 250 and 500 euros, so they can go up to 800 euros.
The easiest way to choose your ticket is to look at price comparison websites.
Accommodation budget
Whether you opt for a hotel, a B&B or even camping, the budgets to be planned are very consequent and they can quickly block. And don’t expect to get better rates if you leave the big cities, as prices are often even higher due to the lack of competing offers.
| Prix moyen | Prix bas | Prix bas | Prix en France | |
|---|---|---|---|---|
| Auberge de jeunesse | 50 | 40 | 60 | 20 |
| Hôtel sans étoile | 100 | 70 | 120 | 50 |
| Hôtel 2 étoiles | 120 | 90 | 160 | 70 |
| Hôtel 3 étoiles | 160 | 120 | 200 | 90 |
| Hôtel 4 étoile | 250 | 200 | 300 | 140 |
| Gîte et BnB | 135 | 70 | 200 | 100 |
| Camping | 25 | 15 | 35 | 15 |
Price of transportation
Almost imperative if you want to move around the country, the rental car is very expensive in the country, you will rarely find cars for less than 40 euros a day (mainly in low season), because the price is more often between 60 and 80 euros for a classic car and it can go up to more than 150 euros a day for a big 4X4 type Land Cruiser.
Car rental is not the only transportation option in Iceland, and bus and cab fares are also higher. Overall, the cost of travel in this country is about 50% higher than in France.
| Prix moyen | Prix en France | |
|---|---|---|
| Transport en commun | 2,90 € | 1,6 € |
| Taxi (course de 10 km) | 20 € | 22 € |
| Location de voitures | 70 € (entre 30 et 150 €) | 30 € |
Gasoline is also more expensive than in most European countries, but the difference varies according to oil prices. Prices are around 1.50 € per liter at the moment, but it can go up to more than 2€.
Price of food and catering
Since most food products have to be imported and even for local products, wage costs are high, food will be very expensive. In supermarkets, the cost of your basket will often be 40% higher than in France.
| Prix moyen | Prix en France | |
|---|---|---|
| Fromage (1 kg) | 9,5 € | 14,36 € |
| Lait (1 litre) | 1,1 € | 0,94 € |
| Oeufs (les 12) | 4,2 € | 2,65 € |
| Oranges | 2 € | 2,12 € |
| Pain (500 g) | 2,5 € | 1,36 € |
| Pommes | 2 € | 2,3 € |
| Pommes de terre | 1,9 € | 1,45 € |
| Riz (1 kg) | 2,3 € | 1,68 € |
| Tomates | 3,6 € | 2,3 € |
In terms of food, prices are also important with rates sometimes doubled compared to France, especially for restaurants with starter, main course and dessert, but also for fast food (30 to 50% more). Only the famous Icelandic hot dogs, the pylsur, are accessible with prices around 5 euros.
Price of the activities
Side activities are quite rare in Iceland, you can very well make a stay without paying any excursion or museum, but it can be interesting to do some like museums, horse riding, quad biking, visiting an ice cave, etc.
The costs are also high, both for museums (about 20 to 30 € the place) and for excursions (prices vary according to the activities) or hot baths (several tens of euros).
Estimated average budget for a trip to Iceland
After having all this information, you then wonder how much a trip to this country can cost. The data is taken for two adults in a 2 star hotel or gite, traveling from France.
Cost of a 4 day weekend
This trip includes 2 days in Reykjavik and an additional excursion to the Golden Circle.
- Round trip airplane : 600 euros
- Accommodation: 300 €.
- Food and drink: 320 €.
- Transport : 50 €.
- Excursions and activities: 200 €.
TOTAL = 1 470 €.
Cost of an 8 day trip
This trip includes the discovery of the south coast up to Jökulsarlon, so it is necessary to rent a car.
- Round trip airplane : 600 euros
- Accommodation: 640 €.
- Food and drink: 700 €.
- Transportation: 500 €.
- Excursion and activity: 300 €.
TOTAL = 2 740 €.
Cost of a 15 day trip
This trip includes a tour of the island by road, so you need to rent a car.
- Round trip airplane : 600 euros
- Accommodation: 1250 €.
- Food and drink: 1400 €.
- Transportation: 800 €.
- Excursion and activity: 600 €.
TOTAL = 4 650 €.
