Costs

Prices checked September 2026

Before the 2008 financial collapse, Iceland was known as one of the most expensive places in the world. When this page was first written in 2010, the krona had crashed, and it was still pricey. In 2026 it's pricier again. Every figure the old version of this page listed has gone up, many of them two or three times over.

That doesn't mean you can't visit Iceland on a budget. It means you need to know where the money goes. Below are real 2026 prices from official and operator websites, so you can build your own numbers. For a full trip plan, read how to budget for a trip to Iceland.

The exchange rate

On 16 September 2026 the Central Bank of Iceland listed 121.18 ISK per US dollar and 139.80 ISK per euro, and Wise's mid-market rate was 121.9 ISK. So 1,000 ISK is about US$8.20, and a quick rule of thumb is to knock two zeros off a krona price and subtract about a fifth. In 2010 the rate was about 116 ISK to the dollar, so the currency is in the same range. The prices are what moved.

Cards work almost everywhere, including for small purchases and on city buses, so you don't need much cash.

What things cost in 2026

Getting from the airport

• Flybus from Keflavík to the BSÍ bus terminal: 3,999 ISK one way. Hotel drop-off can cost extra.
• Strætó bus 55 from the airport to Reykjavík or Garðabær: 2,400 ISK (1,800 ISK to Hafnarfjörður). You can pay by card on board. Some trips end at Fjörður in Hafnarfjörður rather than BSÍ, so check the timetable.
• Taxi: far more than the bus. Hreyfill sells pre-booked transfers priced per vehicle, which can make sense for three or four people.

More on this in getting from Reykjavik to Keflavik.

Getting around Reykjavik

• Single city bus fare: 690 ISK for adults, paid contactless on board or with the Klapp app or card. The old 280 ISK exact-change fare is long gone.
• Fare capping: with the same payment method, you never pay for more than three rides a day or nine a week.
• Klapp ten (a paper card with ten rides): 6,900 ISK. 30-day pass: 12,000 ISK.
• Reykjavík City Card: 6,100 ISK for 24 hours, 8,500 ISK for 48 hours and 10,500 ISK for 72 hours. It includes city buses, entry to 17 museums and attractions, 8 public pools and a ferry ride.

See getting around in Reykjavik and the Reykjavik discount card.

Driving

• Petrol: 95-octane averaged about 261 ISK a liter across Iceland's stations on 16 September 2026, from about 222 to 270 ISK, according to price tracker Gasvaktin.
• Kilometer fee: since 1 January 2026 every car pays 6.95 ISK per km. Rental companies can instead pay a daily fee of 1,390 ISK per rental day, and either way it ends up in your rental price.

See car rental in Iceland and driving in Iceland.

Sleeping

• Tent pitch at the Reykjavík Eco-Campsite: 3,555 ISK including one adult, plus 400 ISK lodging tax per night.
• Space in an FÍ mountain hut on the Laugavegur trail: 17,000 ISK a night at Álftavatn.
• Hostel dorms, guesthouses and hotels: rates change daily with demand, so check HI Iceland and the places on our accommodation page when you plan. Expect far more than the 3,000 ISK dorm bed and 10,000 ISK hotel room this page used to quote.

Eating, swimming and sightseeing

• Hot dog at Bæjarins Beztu Pylsur: 880 ISK as of March 2026. Still the cheapest hot meal in town. See Icelandic hot dogs.
• Adult entry to a Reykjavík city pool: 1,500 ISK. Towel rental is 860 ISK and swimsuit rental 1,270 ISK, or 2,770 ISK for swim, towel and suit together.
• National Museum of Iceland: 3,300 ISK for adults, free for under-18s.
• Horseback riding: Íshestar's 1.5 to 2 hour rides cost 16,900 ISK.

For more ways to save, see free and cheap things to do in Reykjavik, dining on a budget and Reykjavik city pools.

Tax and tipping

Iceland's standard VAT rate is 24%, with a reduced 11% rate on things like hotels, restaurant food, alcohol, books and tours. Visitors can claim a VAT refund on goods they take home, as long as a single receipt comes to at least 12,000 ISK. Ask the shop for a tax-free form. Tipping isn't expected; see tipping in Iceland.

FAQ

Is Iceland more expensive now than it was in 2010?

Yes, by a lot. The dollar buys about the same number of krónur as it did then, but prices have climbed: a city bus ride went from 280 ISK to 690 ISK, and the Flybus from 1,950 ISK to 3,999 ISK.

What's the cheapest way from Keflavík airport to Reykjavík?

The public Strætó bus 55, at 2,400 ISK. It runs every day, but check the timetable against your arrival time, and note that some trips end in Hafnarfjörður rather than at BSÍ.

Where can I save the most?

Food and drink. Cook some meals if your accommodation has a kitchen, shop at the Bónus and Krónan supermarkets, and bring a reusable bottle, since tap water is excellent. Our page on self-catering in Iceland has more.

Photo by jff ryn pmr