Toronto to Iceland: A Comprehensive Guide to Travel Costs

Iceland, the land of fire and ice, has been a popular travel destination for many years, attracting visitors with its stunning landscapes, unique geothermal features, and vibrant culture. If you’re planning a trip from Toronto to Iceland, it’s essential to understand the travel costs involved so you can budget accordingly. In this blog post, we’ll explore the various expenses you may encounter on your journey, from airfare and accommodations to local transportation and dining.


Your first and most significant expense will likely be airfare. The cost of flying from Toronto to Iceland can vary depending on several factors, including the time of year, airline, and how far in advance you book your flight. On average, a round-trip ticket from Toronto Pearson International Airport (YYZ) to Keflavik International Airport (KEF) can range from $500 to $1,000 CAD.

To find the best deals on flights, try using search engines like Google Flights or Skyscanner. These tools allow you to compare prices across different airlines and booking platforms, making it easier to identify the most affordable options. Be sure to book your tickets well in advance and be flexible with your travel dates, as this can also help reduce costs.


Iceland offers a wide range of accommodations, from budget-friendly hostels and guesthouses to luxury hotels and unique lodging options like farm stays and glamping sites. The cost of accommodations will depend on your preferences and budget.

Here’s a breakdown of average nightly rates for different types of accommodations:

  • Hostels: $40 – $70 CAD per person
  • Guesthouses: $80 – $150 CAD per room
  • Hotels: $150 – $350 CAD per room
  • Luxury hotels and boutique accommodations: $350 CAD and up per room

Keep in mind that prices may be higher during the peak tourist season (June to August) and lower during the off-season. Booking your accommodations in advance can help secure the best rates and availability.


Once you arrive in Iceland, you’ll need to consider the cost of transportation. There are several ways to get around the country, including rental cars, buses, and domestic flights.

  • Rental cars: Renting a car is the most popular and convenient way to explore Iceland, especially if you plan to visit attractions outside of Reykjavik. Car rental prices can vary depending on the type of vehicle, rental company, and length of rental, but you can expect to pay between $50 and $150 CAD per day. Keep in mind that you’ll also need to budget for fuel, which can cost around $2.00 CAD per liter.
  • Buses: Reykjavik has a reliable public bus system, with single fares starting at around $4 CAD. For those traveling outside the capital, there are also long-distance buses connecting major towns and tourist sites. A bus passport, providing unlimited travel for a specified period, can cost between $200 and $500 CAD depending on the route and duration.
  • Domestic flights: If you’re short on time or prefer to avoid long drives, domestic flights are available between Reykjavik and other parts of Iceland. Prices can range from $100 to $300 CAD one-way.

Food and Dining

Food in Iceland can be relatively expensive due to the country’s remote location and reliance on imports. On average, you can expect to spend around $15 to $20 CAD for a meal at a casual restaurant or café. Dining at a more upscale restaurant can cost between $50 and $100 CAD per person. To save money, consider preparing some meals at your accommodations or opting for more affordable options like the famous Icelandic hot dog stands.

Activities and Sightseeing

Iceland is known for its natural wonders, and many of these attractions are free to visit, such as waterfalls, geysers, and national parks. However, there are some paid activities and tours that you may want to include in your budget. For example, a guided tour of the Golden Circle can cost around $100 CAD per person, while entry to the famous Blue Lagoon starts at $70 CAD.

In conclusion, the cost of traveling from Toronto to Iceland can vary greatly depending on your preferences and the choices you make. By researching and planning ahead, you can find the best deals on flights, accommodations, and activities, ensuring a memorable and budget-friendly Icelandic adventure.

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