One of two cheapest supermarkets in Iceland is Kronan. The price difference between stores in Iceland is generally high

A large percentage of people interested in Iceland are the ragged bunch of people called backpackers. Usually younger people with little money but tons of interest and more passion for travelling than George W. had for wars. Team Total Iceland welcomes you all but we are probably alone in this.

It is certainly very possible to visit Iceland on the cheap but don´t be fooled into thinking Iceland is so very much cheaper now than it was before the economic crisis of 2008 as many will have you believe. Airlines, travel agencies and reports in the foreign press make this „cheapness“ factor the major reason to visit this volcanic island nowadays but they are flat out wrong and misleading.[blockquote type=”blockquote_line” align=”right”]charging a hefty 24$/20€ for a small bowl of basic package soup[/blockquote]

Naturally, with the freefall of the local currency post 2008 it clearly got cheaper for foreign visitors to visit. But the lovely people running tourist businesses were quick to figure out to raise prices accordingly. While there is no statistic to back this up the Total Iceland team is well aware of fast rising prices as we have kept watch for a long time.

Apart from paying for accommodation, be it space for a tent or a cheap hostel, you´re biggest worry is the price of food. Fast foods can be had in Reykjavik city for as little as 10$/8€ but as soon as you venture outside the capital the price will quickly rise. Indeed, we know of one basic roadside restaurant in the South of Iceland charging a hefty 24$/20€ for a small bowl of basic package soup.

One way to partly avoid exorbitant prices is to buy all your food in supermarkets. Although it must be said, even here things will probably be way more expensive than you are used to from back home.

Your best options for cheap stuff are Kronan supermarket and Bonus supermarkets. Both found widely in most large or larger towns. Other supermarkets on the lower price scale include Kostur supermarket and Netto supermarket. The first two are found in many larger towns around the country and to some extent Netto also but Kostur has but one store in the capital area.

For other stores such as Hagkaup and Noatun, also found in many places, add at least 30% on prices in the before mentioned supermarkets. Those should be avoided if money is in short supply. Same could be said for most local stores in smaller towns. Those are more often than not way more expensive than the cheapest ones.

But your worst bet is the convenient store 10/11 which oddly enough is often open 24 hours. Found in most larger towns shopping here will add 50% more to your grocery costs from the lowest prices stores. Avoid at all costs if saving money is of the essence. Then again, they do offer shopping in the middle of the night if that´s on your bucket list.

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