How much spending money to take to Iceland? (2024)

Known as the Land of Fire and Ice, Iceland offers visitors an abundance of outstanding natural beauty, revitalising for the soul and mind. The emphasis in Iceland is on quality experiences: there’s the eclectic capital of Reykjavik, home to more than 50 bars on the main street, where you’ll find a great foodie scene and craft beers aplenty. Or venture further afield to explore expanses of waterfalls, glaciers, hot springs and geysers. There’s something for everyone to spend money on in Iceland. You’ll need to plan your trip well, as there’s so much to see and do. The local currency is Icelandic Krona (ISK).

Dining out in Iceland

Iceland is blessed with clear water and natural resources in abundance, and this purity and freshness is reflected in the cuisine. In Iceland you’ll find an excellent mix of foreign and local Icelandic dishes, made with natural ingredients. The Icelandic diet of modern day is very similar to that of the original settlers more than 1,000 years ago, combining the best of fresh ingredients.

A three-course meal for two people in a mid-range Icelandic restaurant will cost you around £80.

If you enjoy seafood, specialities to try include plokkfiskur, a comforting fish stew served with a rich sauce. Or try humar – Icelandic lobster, originating from the south coast.

Allowed to roam freely from spring to autumn time, Icelandic lamb is considered a gourmet meat. Three great examples are pylsa (hot dogs), slow-roasted lamb, and also lamb soup, a dish that has been eaten in Iceland for centuries.

Dark rye bread is always popular in Iceland and is often served with fish. Icelanders often make this bread by burying it near hot springs to bake.

A main meal in Iceland will cost you around £17 per person in an inexpensive restaurant – budget for at least £10-£15 extra for more upmarket restaurants.

The price of drinks

Drinks are known to be expensive in Iceland, so be sure to budget sufficiently. A 500ml bottle of domestic beer will cost you around £8, whereas an imported beer will set you back around £7.

A 750ml bottle of wine in a supermarket will cost you around £18. It is worth trying Kvöldsól, an organic wine produced by the only winery in Iceland – it’s made from crowberries, wild blueberries and rhubarb, not grapes, and is noted for its high level of antioxidants.

For spirits, be sure to try Reyka vodka, considered one of the best in the world. Or try Brennivin, Iceland’s signature unsweetened schnapps.

Tap water in Iceland is safe, pure and delicious to drink straight from the tap. There’s no need to purchase bottled water.

Out and about

Iceland offers its visitors perhaps one of the most naturally beautiful and invigorating outdoor experiences that you’ll ever experience. You’ll be blown away by outstanding natural beauty in all its wonderful forms.

Explore the vibrant capital on a three-hour Reykjavik city tour, you will experience the highlights of the history and culture of Reykjavik. Costing from approx. £42.

A must see is the Golden Circle Tour, a day trip to the Iceland’s most photogenic spots will cost you around £53. You’ll experience dramatic towering waterfalls, geysers and much more.

The picture-perfect Blue Lagoon is a must-visit – an outdoor geothermal spa for those looking to relax and take in nature at the same time. A visit will cost you around £50, but for that you’ll get to experience the healing powers of geothermal seawater.

A whale-watching tour will give you the chance to see some of the 20 species of whales on a sightseeing cruise, costing from £68.

If you’re a fan of Game of Thrones, take a tour of the filming locations from about £90.

If you’re feeling adventurous, Icelandic horseback riding could be ideal for you and is priced from £85.

How much spending money should I take to Iceland?

If you’re travelling to Iceland you will need to budget for approximately £90 per day per person or £630 per week to include meals and excursions. If you plan lots of excursions, you may need to increase your budget.

Tipping in Iceland

Tipping is not customary in Iceland. If there’s no service charge on your bill in restaurants, then tipping 10% of your bill is fine. It’s not customary to tip in hotels, but maids will appreciate a small tip. Bars may have tip jars, and again, around 10% is fine but otherwise a tip is not required. Tipping is not customary for taxis.

*Prices correct at the time blog was published and are subject to availability.

How much spending money to take to Iceland? (2024)

FAQs

How much spending money to take to Iceland? ›

Iceland Budget Summary

How much spending money do I need for Iceland? ›

How much spending money should I take to Iceland? If you're travelling to Iceland you will need to budget for approximately £90 per day per person or £630 per week to include meals and excursions. If you plan lots of excursions, you may need to increase your budget.

How much cash should you take to Iceland? ›

The quick answer to 'do I need cash in Iceland' is a resounding 'no. ' You'll be fine using your credit card or debit card while you travel throughout the country.

How much money is required to visit Iceland? ›

A trip to Iceland from India can cost between Rs. 1 lakh to Rs. 3 lakh or more, depending on the duration of stay and travel style.

How much is a meal in Iceland in US dollars? ›

Based on my experience visiting Iceland multiple times, I recommend budgeting $110 – $150 USD per day for meals: $25 USD for breakfast, $35+ USD for lunch, and $45+ USD for dinner + $15 USD for drinks. In other words, the average meal in Iceland costs approximately $35 to $50 per meal.

How much should I budget for Iceland per day? ›

Iceland Budget Summary

A rough estimate of how much the daily budget is for an average trip to Iceland in 2023 would be around $150-$300 per person, depending on your travel style and preferences. This budget would cover the cost of a mid-range hotel, transportation, food, and some activities.

Is it worth taking cash to Iceland? ›

Do I need cash in Iceland? Card payments are preferred in most places in Iceland. Of course, it's a good idea to take out some cash just in case you have issues with your card. It's normally cheapest to withdraw straight from an ATM or exchange cash at a local bank, rather than at the airport.

How much is $1 US in Iceland? ›

136 ISK

Should I bring USD to Iceland? ›

In almost all places in Iceland you can use the US Dollar or the Euro. You can exchange dollars, euros or any other currency at any Icelandic bank branch (namely at Keflavík International Airport). Bank cards (debit and credit) can be used in all shops, accommodation and other services.

How to pay for bathrooms in Iceland? ›

Typically, the cost is about ISK 200, and you can pay with coins or with a card. The same is true of some frequently visited spots in Reykjavík as well. Harpa concert hall and BSÍ bus terminal are perhaps the most widely known spots with these types of small-fee toilets.

What is the best money to take to Iceland? ›

While the official currency is the Icelandic krona, You might find that some hotels and tourist-facing businesses accept the US dollar, British pound or euro. There are no guarantees, however, so we recommend that you take Icelandic krona for the easiest transactions, especially outside of urban areas.

How much is a meal in Reykjavik? ›

Sample prices by item
ItemISK (average)Price in GBP (approx)
Main meal, inexpensive restaurant2,538£15.00
Three course meal for two at a mid-range restaurant (excluding wine)15,000£89.00
Domestic beer (half litre)1,200£7.10
Imported beer (330ml)1,000£5.90
12 more rows

How much is a cup of coffee in Iceland? ›

A cup of latte or cappuccino goes for around 5 USD, tea at about 3 USD (usually with free hot water refills), and a regular black coffee goes for anything from 2.50 USD to 4 USD (depending on if refills are included). There are a few ways to get around this.

How much is $100 US dollars in Iceland? ›

US Dollars to Icelandic Kronur: exchange rates today
USDISK
20 USD2,728 ISK
50 USD6,820 ISK
100 USD13,641 ISK
250 USD34,104 ISK
8 more rows

What is not expensive in Iceland? ›

Read on to plan your affordable trip to Icelandic, packed full of unforgettable adventures.
  • Public transport. ...
  • Free Hot Springs. ...
  • Discovering the Great Outdoors. ...
  • Exploring the City Gardens. ...
  • Soaking up the Northern Lights. ...
  • Discovering the Museums of Reykjavik. ...
  • Uncovering Icelandic Architecture. ...
  • Free Water.

Do you tip in Iceland? ›

In short: Tipping is not customary in Iceland and you don't need to worry about it. Don't feel bad for not tipping because the server's wages are sufficient and they don't expect it. That being said, of course, if you want to give someone a tip, by all means do.

Should I exchange money before I travel to Iceland? ›

Instead, we recommend exchanging your currency upon arrival at Keflavík International Airport (KEF) after you land. You can do this at Arion Bank located in the arrivals hall or at the desk in the departures hall. You can also pre-order your currency exchange and collect it within as little as four hours.

Is visiting Iceland expensive? ›

Travelling to Iceland can be relatively expensive, especially considering the high cost of living, and high price of imported goods. In addition, as a tourist, you'll encounter higher prices for accommodation, meals, transportation, and activities. That said, this doesn't mean a trip to Iceland has to break the bank.

Is the US dollar accepted in Iceland? ›

In almost all places in Iceland you can use the US Dollar or the Euro. You can exchange dollars, euros or any other currency at any Icelandic bank branch (namely at Keflavík International Airport). Bank cards (debit and credit) can be used in all shops, accommodation and other services.

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