It can be hard to find information on exactly how much people tend to spend on trips, so I’ve decided to write a breakdown of costs for Iceland. When I travel on a regular holiday such as this one I don’t tend to have a budget – I think before I spend, but I don’t limit myself too much (this will be a lot different when I actually do my RTW trip!).
So here’s the breakdown for 5 nights in Reykjavik:
Flights from London to Keflavik/Reykjavik and back: £192.00
Airport transfers including pickup and drop off at hostels: £20
Special Festival Events (Iceland Airwaves Blue Lagoon Chill & Sigur Ros gig): £70
Whole day Golden Circle Guided Tour and 3 day Reykjavik Card: £70
Accommodation (3 nights twin room, 2 nights shared dorm, 4 breakfasts included): £114
Food&Drink (partly self catered but I also bought meals out): £100
Misc transport (buses before we got the Reykjavik Welcome Card): £5
Northern Lights spotted over Reykjavik: Free
Total: £572pp for 6 days / 5 nights including flights and transfers
If doing the same trip on a budget and not during Iceland Airwaves you could easily do it much cheaper. Our desired hostel was booked up for most of our trip, but if we had booked earlier we could have been in the same 6 bed dorm for £70 for 5 nights (no breakfast though, and no linen but you can take a sleeping bag) or a 16 bed dorm for £59. There are quite often deals on flights, or flight packages that include tours too. You can also do half day Golden Circle tours for around £32 instead of full day, or you could hire a car and do it yourself.
Iceland isn’t cheap, but it didn’t break the bank either. If you travel sensibly by considering buying food from the supermarket and cooking a couple of meals, or by taking buses not taxis, then it can be done on a budget, just not the same kind of budget you would have for SE Asia or Eastern Europe. Plus, the experiences we had in such a short amount of time were well worth the money.