Iceland is a mesmerizing destination long celebrated for its breathtaking natural wonders and unparalleled experiences by visitors of all types.
The so-called "Land of Fire and Ice" offers a wealth of immersive activities and unique attractions to explore and enjoy, and planning a budget ahead of time will help you make the most of your magical getaway to this Nordic island nation.
Here’s what you should know when budgeting for your trip to Iceland:
What to Expect
Iceland is known to be one of the pricier vacation destinations in the world, with an average daily cost for visitors ranging from $90 to $290 per person, although overall expenses vary greatly depending on a number of factors, including when you decide to book and travel.
Peak tourism season extends from June through August, which is when you’ll find the largest crowds, higher prices, and more competition for hotel availability. Iceland’s off-season encompasses September through May, when air fares, car rentals, and accommodations are more affordable.
Getting There
Visitors can fly, cruise, or even take a ferry to Iceland.
Air Travel
At least 19 airlines offer year-round flights to Iceland from destinations throughout Europe and North America. Depending on preferred airlines and seasons, one-way flights range from $152 to $688.
Cruises
Iceland is an incredibly popular cruise destination, with many large operators featuring port stops or complete itineraries, including Celebrity Cruises, Norwegian Cruise Line, Windstar Cruises, Holland America Line, Oceania Cruises, Viking Ocean Cruises, Royal Caribbean, and more.
Prices can range dramatically depending on the line and type of package you book.
Ferries
If you’re traveling from Europe and would prefer to take your car, the MS Norröna provides weekly ferry trips all year long to Iceland from Denmark via the Faroe Islands, a Danish archipelago part way between Iceland and Norway.
According to online ferry guide FerryGoGo.com, if you plan on bringing a car, the lowest price for one adult for a one-way ticket and personal car cabin is $613, but that could fluctuate depending on the season.
Getting Around
Visitors have a selection of transportation options to travel to their various attractions and itinerary activities, such as car rentals, bus service, and flights.
Car Rentals
If you’re looking to explore the stunning landscapes and attractions on your own terms, renting a car would be the ideal choice. According to travel aggregation site KAYAK.com, the average cost for a rental car in Iceland is $72 per day, but you could find rentals for as low as $23 per day.
Bus Service
For those preferring public transportation, regular bus service is a convenient and inexpensive option. Single rides cost $3.60 and the price increases to $7.10 for night buses.
Air Travel
To get around different parts of the country quickly without a car, travelers can opt to take to the air. With most flights lasting less than an hour, and frequent daily departures to numerous destinations, visitors have the flexibility to embark on enjoyable day trips to multiple locations without breaking the bank.
Accommodations
Hotels
The average price of a hotel room for one night is $150 per person, with budget hotels averaging $97 and luxury hotels $251, according to BudgetYourTrip.com. For the greatest value, consider all-inclusive package options for extra convenience, personalized services and amenities, and access to various tours and activities at no additional cost.
House Rentals & Hostels
If you plan on going with a group or as a family, renting a house could be a more cost-effective option. Guest house rentals range in price from $97 per night to more than $300 depending on the size and style of home.
Hostels are another inexpensive and popular alternative among solo travelers. According to price comparison site Hostelz.com, the average price for a bed in a dorm room is $67 per night, and private room $251.
Be sure to research and book well ahead of time to ensure access to the best prices and availability.
Dining
On average, expect to spend about $35 per person per day on food, with the average meal costing around $14. These expenses can add up, particularly if you’re traveling with a group or family. Staying at a place with a kitchen, therefore, can result in significant savings through purchasing groceries and cooking on your own.
Activities, Tours & Entertainment
Whether marveling at the Northern Lights, hiking on glaciers, or exploring the capital city Reykjavik, Iceland boasts plenty of opportunities for adventure and discovery. Exactly how much you’ll have to dish out will be determined by your itinerary and preferences.
For example, you can traverse the Golden Circle, a 186-mile route along some of the country's most extraordinary natural wonders, and you’d only have to pay for the gas to get there and back. Alternatively, you could also book exclusive activities and experiences such as a helicopter tour of the country’s spectacular volcanoes for around $600.
There is so much to do and see on your Iceland vacation, and so many unique and memorable ways to experience it. Planning out your itinerary ahead of time will help you get a clearer picture of how much you should budget.
Get the Most Out of Your Iceland Vacation With InteleTravel
No matter what sort of vacation you’re looking to take, or how much you’ve budgeted, the best way to ensure you get the greatest value for your trip is by working with a dedicated travel professional such as those at InteleTravel.
Our InteleTravel Advisors work with you to arrange the ideal itinerary based on your individual preferences, book the various parts of your trip, and even provide exclusive bonuses and upgrades whenever possible to further enhance your vacation.
If anything unexpected happens while you’re abroad, InteleTravel Advisors are available to provide guidance and assistance throughout every step of your journey.
The best part? InteleTravel Advisors never charge travelers for their services, so you can partner with a certified travel professional to handle every detail of your vacation—all at no additional cost.
So why wait?
