As of November 12, 2026, the cheaper of the two for travelers is Norway: a mid-range day costs about $218 there, against $266 in the other (Iceland), a gap of 22.1%. Over the past year the one that moved more in the US-dollar traveler's favor is Iceland (−4.4% after inflation, against −4.6%). Both sit at US advisory Level 1.
| Measure | Iceland | Norway |
|---|---|---|
| Mid-range day | $266 | $218 |
| Lean day | $122 | $106 |
| Comfortable day | $554 | $469 |
| Real change, 12 months | −4.4% | −4.6% |
| Exchange rate alone, 12 months | −2.6% | −4.9% |
| Versus 5-year average | −14.0% | −4.5% |
| US advisory | Level 1 · Normal precautions | Level 1 · Normal precautions |
| Ease of travel | 4.5 · Effortless | 4.8 · Effortless |
| Index score | 44 | 48 |
| Best months | Jun, Jul, Aug | Jun, Jul, Aug |
| Shoulder months | May, Sep | May, Sep |
The better figure in each row is in bold. Costs are modeled estimates per person, excluding international flights.
Volcanoes, glaciers and waterfalls on one ring road, at some of the highest prices on earth.
The catchA burger costs $25 and a rental car $100 a day in summer. Weather closes roads without notice, and popular sites now charge for parking.
The fjords cost what they always did in kroner. In dollars and euros, rather less than they used to.
The catchStill one of the most expensive countries on earth for food, drink and lodging, even with the krone well below its long-run level.
Source: Trip Arbitrage (triparbitrage.com), reading of November 12, 2026. How this is calculated.