How Much Will an Iceland Trip Cost in 2024
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Iceland is a dream destination for so many travelers! With its breathtaking landscapes, unique culture, and endless adventures, it’s easy to see why everyone is eager to explore this Nordic gem. From geysers and volcanoes to waterfalls and the Northern Lights, Iceland guarantees an unforgettable experience. But what will a trip to Iceland cost you in 2024? This guide breaks down the expenses and shares some handy tips to help you budget wisely.
At the end of this blog check out my real budget from my most recent long weekend trip to Iceland!
Summary
Planning Your Trip
Flights
Accommodation
Getting Around
Affordable and Free Activities
Other Ways to Save Money
My Recent Trip Real Budget
Planning Your Trip
When planning your trip to Iceland, it’s super important to think about how long you want to stay and the best times to visit. Most people go for a 7 to 10-day adventure, which gives you plenty of time to check out the island’s amazing attractions. However, if you can only do a couple days, I think Iceland is still very much worth going to! My budget below is actually for a quick 4 day trip I did recently.
The peak season is from June to August when the weather is nice and the days are long. You'll get the best weather during the time, but also the highest prices along with no chance to see the northern lights if that is important to you. Alternatively, visiting during the shoulder seasons (April-May and September-October) can save you some cash while still giving you great weather!
Flights
Flights can be one of the biggest expenses for any trip, but with a little planning, they don't have to break the bank! If you're heading to Iceland, keep in mind that ticket prices can vary quite a bit based on where you're flying from.
For those coming from North America, round-trip fares typically fall between $400 and $800, with flights from the East Coast usually being a bit cheaper than those from the West Coast. If you're in Europe, you’re in luck—flights can range from just $100 to $300, making Iceland a fantastic getaway from many major hubs. To snag the best deals, try using flight comparison websites, set up fare alerts, and consider booking a few months ahead, 3-10 months before your trip. If you’re unsure of where to go to book your next flight, check out my resources page here.
Note: Also take a look at Iceland's newish airline, Play Airlines. They have great deals sometimes if you keep an eye out. I have flown to Iceland from New York for only $250 round trip!
Accommodation
Accommodation costs in Iceland can vary quite a bit depending on where you decide to stay. Budget travelers can find cozy hostels or guesthouses for around $30 to $70 per night. If you're looking for something a bit nicer, mid-range hotels usually fall between $100 and $300 a night. And for those wanting to splurge, high-end hotels and resorts can go for $300 or more per night. To score the best rates, it’s smart to book your accommodations early, especially in peak season.
If you’re unsure of where to go to book your next stay, check out my resources page here.
Getting Around
Getting around Iceland can be a bit pricey, but there are plenty of great options! Renting a car is a popular choice since it lets you explore the island at your own pace. You can expect to pay between $50 and $150 a day, depending on the type of car and the season. Another favorite option of mine, and very popular here, are camper vans! A bit more expensive, but you save on hotel costs. There are campsites everywhere that are both inexpensive and sometimes free.
Note: when creating your budget, make sure to factor in gasoline. Gas may also be a higher price than you're used to at home.
Lastly, many tours provide transportation making it a convenient way to visit specific attractions without the stress of driving. You can book multi day tours and have them take care of everything, or single day tours and have them bring you back to your hotel at night.
Affordable and Free Activities
Iceland is packed with incredible natural wonders that won't cost you a fortune! There are plenty of free or low-cost activities to enjoy, like hiking, visiting stunning waterfalls, and exploring beautiful national parks. I always say, it can be expensive to travel to and stay in Iceland, but the free natural scenery makes up for it! For a full guide on what to see in Iceland, check out my Ultimate Iceland Bucket List here!
Other Ways to Save Money
If you're looking to save some money in Iceland, there are plenty of smart strategies to keep your budget in check while soaking up all the magic this beautiful country has to offer! First, think about cooking your own meals. Shop at local local supermarkets like Bónus, Netto, and Krónan, and you can whip up tasty meals without going broke. Keep an eye out for special discounts and happy hour deals at restaurants; many spots have awesome offers during off-peak times. I love Guide to Iceland’s VIP Club for local deals. Also, the infamous Icelandic hot dogs are a must try here, only a few dollars, and you can get them almost anywhere!
Planning to hit multiple attractions? The Reykjavik City Card is a great option. It gives you fantastic savings on entrance fees and public transport! With a bit of planning and creativity, enjoying Iceland can be budget-friendly!
My Recent Trip Real Budget
I recently went on a short, 4 day, trip with a friend of mine and she was amazed at how much we were able to do it for! Also a quick note about this trip, our goal was to go a step above budget, but not luxury. You can definitely spend less, but if that isn't your style then this is a great example.
Flight – $1,141.20
This is the price of two roundtrip tickets from NYC.
Car Rental – $222.00 + $84.00/Basic Insurance
I used Guide to Iceland for the best rates and booking process. https://guidetoiceland.is/
When I arrived to pick up my car from my chosen company for this trip, I ended up having to purchase insurance rather than use my credit card's option. It was pay for theirs, or a $2700 hold.. I chose the $84.00 insurance.
Note: Even though I opted for the lowest insurance and was
Hotel – $224.50 / $671.93
First price is Midtown Hotel in Reykjavik and second is Hotel Kria in Vik (add affiliate links)
Parking – $48.00
Parking fees for where we had to leave our car in Reykjavik due to our hotel not having it's own lot, and parking fees for tourist sites.
Gas – $200.00
I know this is something everyone is interested in! I was driving a Mitsubishi Eclipse and we went all the way from the airport to, Reykjavik, to Vik, then to the Jökulsárlón glacier lagoon and all the way back. We filled up the tank 3 times.
Food – Around $431.45
This includes all food from grocery, restaurants, and coffee for two people. We also splurged at Friðheimar Restaurant.
Blue Lagoon – $302.19
This is the total for two people. We chose the Signature option since it was a birthday visit and the peak time of day. You can opt for a lower package and an off peak time of day to save some money, as low as $165.00 for two people.
Total – $3,325.27 ($1,662.64 per person)
Not terrible amount for an extremely fun short trip! Also remember that we did splurge in many areas! I have done this exact trip for even less.
Iceland is an amazing destination with tons of experiences for every traveler. While costs can stack up, with some good planning and budgeting, you can make your dream trip to Iceland happen! Just remember to book early, think about traveling during off-peak times, and check out free or low-cost activities to get the most out of your adventure. Ready to start planning? Dive into more tips and resources to make sure your Icelandic journey is both unforgettable and budget-friendly. Happy travels!
Hi, I’m Karen!Travel Blogger & Photographer + Founder of The Everyday Adventure
Here I share travel tips, packing guides, planning help, and photography from many different parts of the world. I help other working 9-5 adventurers get out into the world and see as much as they can with the little time they have available.
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