In this post/podcast episode, I’m sharing some common expensive mistakes that many travelers in Iceland make unknowingly. If you’ve already planned a trip here, then you’re well aware that traveling to and around Iceland can quickly drain money from your bank account.
While it’s true that the country is quite expensive, your experience doesn’t have to break the bank. In a future episode, I plan to share a trip budget breakdown, so make sure you are subscribed so you don’t miss out on that.
All of these will definitely save you money, #3 includes an innovative way to save money that many tourists will find handy.
5 Expensive Mistakes Tourists Make in Iceland
1. Not Buying Alcohol Before Leaving Keflavík International Airport
Before you even leave Keflavík airport, it‘s highly recommended that you stock up on alcohol at duty free. Of course, this only applies to those that drink. The reason for this is that alcohol in Iceland is heavily taxed. The higher the alcohol percentage content, the higher the tax.
Prices in duty free for alcohol (i.e. beer, wine, and spirits) can be upwards of 30% less expensive than in the state owned stores. Please note that vínbúðins or the state-owned alcohol stores are the only places where you can buy spirits. A law passed this year allows for breweries in Iceland to finally sell directly to customers.
Yes, you can for sure buy individual drinks at bars but just know that those will be expensive too. One way to decrease the cost is to catch a happy hour. I’m putting together my favorite happy hour places and will definitely be sharing those in the near future.
2. Taking a Taxi From the Airport
The next expensive mistake is taking a taxi from the airport. Most visitors are not aware that Uber, Lyft or any type of ride sharing program legally exist in Iceland. The taxis have a monopoly, and a ride can be costly. Because the airport is about a 40 – 45 minute drive from Reykjavík will be a little over $123.
That is the price for up to 4 people. If you split it among 4 people, the price is not that bad. However, if there is only one or two people, the price is just ridiculously high. Alternatively, you can take a bus transfer from the airport, like Flybus for around $23 a person.
3. Not Being Properly Dressed for Icelandic Weather
Not being properly dressed for Icelandic weather can result in you feeling cold, wet, and all around miserable. This can literally put a damper on your vacation. While many people think they have packed well enough, it’s common for a decent amount to still feel cold when they are here. This might lead a person to shell out hundreds of dollars to buy a warmer coat or parka in Iceland.
The good news is that I have a little hack for you if you ever find yourself in Iceland and you need extra layers, but you don’t want to spend a bunch of money on clothes. I partnered with IcelandCover for this episode because their business is based around an ingenious idea.
They are a company that rents out warm, waterproof, and windproof parkas, boots, and pants. I personally tested out the parka and boots by going behind waterfalls that would typically soak through a regular coat. I stomped in puddles with the boots, and I even went northern lights hunting with the parka. It’s a bonus to add that the clothes and boots are vegan-friendly.
It was important to make sure the clothes could adequately protect me from the wind, rain, and chilly air. I’m happy to say that the boots and coat held up well.
Where to Find IcelandCover in Reykjavík
IcelandCover conveniently has a location in the center of downtown Reykjavík on the famous shopping street Laugavegur. They share the same building as the WhatsOn Information center. So, you can get your clothing rentals and get additional information regarding fun things to do.
Their rentals are very affordable. For instance, a parka rental starts at approximately $29 for one day. However, if you need it for more than a day, the price for the rental drops dramatically with each additional day. What’s even better is that you can save 10% off your entire rental cost, whether it is a parka, boots, pants, a beanie, cramp-ons, a raincoat or all of those when you use my code “Allthings”.
While I think this company can be useful for anyone, I can for sure see it coming in handy for specific people. Namely, those who aren’t used to cold temperatures, or if you are like me, you get cold easily and need extra layers.
4. Buying Bottled Water in Iceland
Access to fresh, delicious water straight from the tap is not a luxury that many people in world experience. Thankfully, Iceland does have that privilege. However, not everyone that visits is aware that there is absolutely no need to buy bottled water here.
The still water that is for purchase in the food shops in Iceland are literally from the tap. You can save yourself some coins and help save the environment by bringing a reusable water bottle. You can fill it up with tap water or from streams out in the countryside.
One caveat is that the hot water in Iceland does often smell like rotten eggs. It’s just sulfur from the geothermal areas where the water is being pumped from. It is not harmful and it is more than safe to shower in it.
I too was once afraid that I would smell like sulfur when I showered in it. Thankfully, that was not the case. I recommend just running the cold water first for a few seconds before filling up your cup or bottle to avoid the sulfur smell.
5. Spending Way Too Much on Food By Eating Out
There are many amazing restaurants to enjoy in the country. However, you might find that eating out for every meal can easily rack up a cost of $100 per person each day. Personally, I have my go-to restaurants and I enjoy trying out new restaurants occasionally. I always recommend shopping in the supermarkets like Bónus or Krónan for snacks, breakfast, and lunch foods and make dinner the time that you eat out.
Granted, you can get some tasty baked goods for breakfast at a bakery for an inexpensive price but if you want a sit down breakfast, expect to pay at least $20 in most places. It’s also worth noting that if you don’t mind making your own sandwiches, you can save a significant amount buying your own ingredients than buying some of the pre-made sandwiches.
This doesn’t apply to all of them, so just do a price comparison. Lastly, when I go out, I often check to see if they have a three-course dinner menu or multiple course dinner menu because that is normally a way better deal than a la carte. If you’re planning to pair wine with the multiple courses, you can expect your bill to double in price.
Random Fact About Iceland
According to this article on Iceland Monitor from 2022s
"Since 2016, Iceland and Switzerland have taken turns being Europe’s most expensive countries, mbl.is reports, quoting Kjarafréttir, which bases its information on figures from Eurostat regarding total consumption expenditures of private households. Europe’s highest price levels were in Switzerland in 2016, 2019 and 2020, and in Iceland in 2017 and 2018. Price levels in Iceland in 2020 were more then 40 percent higher than the EU average, while in Switzerland, they were nearly 70 percent higher than the EU average."
Icelandic Word of the Episode
Dýr – expensive
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