While there are plenty of budget-friendly destinations around the world, Reykjavik isn’t known for being one of them. The Icelandic capital is known for expensive – but high quality – knitwear, £10 pints, and generally being a gateway to the natural excursions around the island.
However, if you are trying to keep to a budget in Reykjavik, it is definitely possible. So, here are some of the best things to do in Reykjavik on a budget!
Wander Skólavörðustígur
Otherwise known as the Rainbow Street, this tourist attraction is one of the key stopping points around Reykjavik. At the top, you’ll see the imposing Hallgrimskirkja church, which is such a cool photo spot, with the colorful floor beneath you.
The street has a few cool shops and boutiques to explore, as well as some reasonably priced cafes. You can browse until your heart’s content and chat with some of the artisans in their shops. When you’ve had enough window shopping, I’d personally recommend Cafe Babalu. It’s an amazing spot with gluten-free and vegan options that won’t break the bank.
Check out Hljómskálagarðurinn
Whenever I’m in a capital city, no matter how big or small (and Reykjavik is definitely the latter), I like to visit the city park and get some natural vibes. Hljómskálagarðurinn is a cool place to wander around, especially when the weather is bright. There’s a huge lake, some great birdlife, and well-maintained trails all around. You can also spot a few historic statues, which gives you a culture boost.
It’s also an ideal alternate route to get between neighborhoods without going down the same one or two main streets. While it’ll take a bit longer, it’s a more relaxing route and links the university area, downtown, and the centre.
Visit Reykjavik’s Museums
It’s worth noting that most of Reykjavik’s museums and galleries are not free. However, compared to every other excursion and experience in Iceland, it’s very cost-effective. Most museums in the city have entrance fees ranging from £12-25 per person, so it’s not obscenely priced.
Some of the most popular museums in Reykjavik include:
Relax at Nauthólsvík Geothermal Beach
If you thought Iceland didn’t have golden sandy beaches, think again. Located near the Perlan Museum on the southern side of Reykjavik is the Nauthólsvík Geothermal Beach. This artificial beach is naturally warmed by the geothermal heat of the island and offers cold water swimming most of the year, but temperature conditions in the summertime.
Here, you’ll find snack bars, hot tubs, and more, making it a cheap alternative to the Blue Lagoon, Sky Lagoon, and other expensive tourist traps. Entrance only costs 920ISK, which is about £5.50
Enjoy a free comedy night
Reykjavik’s nightlife scene predominantly consists of drinking £10 pints in bars and pubs. I love a pub probably more than the average person, but at that price, it’s not very budget-friendly. However, after speaking to an expat, I found out about the free English language comedy nights at the Secret Cellar.
These shows are on at 9pm from Wednesday to Saturday and offer opportunities for people of all backgrounds to do standup. They also have generous happy hours options the whole time, so it’s as budget-friendly as you can get for a night out in Reykjavik.
Visit Hallgrimskirkja
It’s hard to ignore the giant Lutheran parish church that is Hallgrimskirkja. It’s definitely a symbol of the city, and it’s completely free to go in and have a look around. It’s around 74.5 metres (244 ft) tall, making it (unsurprisingly) the tallest church in Iceland.
If you want to climb the tower and get the amazing 360-degree views of the city and the bays beyond, you’ll have to pay 1200ISK (around £7). Again, although it’s not free, it’s reasonably inexpensive by Icelandic experience standards.
How to stay in Reykjavik on a budget
So, now that you know a few things to see and do on a budget in Reykjavik, let me share how to stay here on a budget. Famously, accommodation is one of the most expensive things in Iceland, but I’d recommend staying in the KEX Hostel. This is located in the downtown area, near the Sun Voyager statue, just a few steps away from the main street of Laugavegur.
It’s recently renovated with warm rooms and a huge bar with happy hour deals. For a hostel, it’s also relatively quiet if you’re a light sleeper. A bed in a six-bed dorm costs around £40 a night, which, although expensive everywhere else, is reasonable here, especially considering the location.
