Why is Iceland so expensive?
Why is Iceland so expensive? Iceland is relatively expensive compared to many other countries but on the other hand, the average salary is higher than in most other countries. There are several reasons for Iceland's high prices, including a small market, oligopoly, high reliance on imports, geographical isolation and high import taxes and tolls.
How much does a bottle of water cost in Iceland?
Buying a bottle of water in Iceland can be as expensive as $3! As it's the same water in the bottle as the water you get from your cold tap (the water in Iceland is super clean) then there's no need to buy water during your stay in Iceland.
Do you tip in Iceland?
Tipping isn't mandatory or customary in Iceland, but it is always appreciated. The standard rate of tax on Icelandic products is 24%, with some products and services, including books, food and accommodation, taxed at a reduced rate of 11%.