Reykjavik is one of the most expensive capitals in the world. The baseline of €180/day/person covers a mid-range stay: double room in 3-star hotel (€120-180/night), 2 restaurant meals (€40-60/person total), 1 to 2 museums or activities per day (€15-30).
Lodging: hostel dorm bed €30-50/night (Kex Hostel, Loft Hostel), guesthouse €80-130 (Sunna, Skuggi), 3-star hotel €150-220, 4-star design hotel €220-350 (Hotel Borg, Sand Hotel, Reykjavik Konsulat), luxury €400-600 (101 Hotel, The Reykjavik Edition).
Dining: counter coffee €4-5, pylsur €5, lobster soup at Sægreifinn €25, harbour fish & chips €18-22, main course in a decent restaurant €30-45, gastronomic €80-150/person (Dill, Matur og Drykkur, Grillmarkaðurinn). Beer in a bar €10-12 a pint (alcohol is heavily taxed in Iceland). Wine by the glass €12-18. Cocktails €15-22.
Paid activities: Hallgrímskirkja lift €8, Perlan €25, National Museum €12, whale tour €95-115, Sky Lagoon €60-100, Blue Lagoon €80-150, Northern Lights tour €60-90.
Transport: Strætó bus €3 a ticket, €11 day pass, FlyBus airport €30-35 one way, taxi in town €15-25 a ride, compact hire car €70-100/day.
Saving tips: shop at Bonus (discount chain, recognisable by the pink pig on the logo) or Krónan, take advantage of happy hour in bars (5pm-7pm, beers at €7-8 instead of €12), get the Reykjavik City Card (24 h ISK 3,700 / €25, free access to several museums + transport + Sky Lagoon discount), drink tap water (the best in the world).
Read also
- Reykjavik and the Southwest — The complete region: capital, Blue Lagoon and Reykjanes peninsula.
- The Blue Lagoon — The milky-blue geothermal lagoon 45 minutes from Reykjavik.
- The Golden Circle — Þingvellir, Geysir and Gullfoss: the unmissable day loop.
- Iceland — Complete country guide: Schengen entry, budget, when to go.