Reykjavik, Iceland
Editor
March 12, 2023
Reykjavik is an ideal destination for digital nomads looking for a unique and exciting place to work and explore. With its stunning natural beauty, vibrant culture, and excellent infrastructure, Reykjavik is the perfect place to live and work remotely. The city is home to a thriving tech scene, with a number of startups and tech companies based in the city. Reykjavik also offers a great quality of life, with a low cost of living and a high standard of living. The city is also home to a number of coworking spaces, making it easy for digital nomads to find a place to work. Additionally, Reykjavik is a great place to explore, with a number of museums, galleries, and other attractions. The city is also home to a number of festivals and events throughout the year, making it a great place to experience the culture of Iceland. With its stunning natural beauty, vibrant culture, and excellent infrastructure, Reykjavik is the perfect destination for digital nomads looking for a unique and exciting place to work and explore.
Living in Reykjavik, Iceland: Overview
Overall score | Worksplorer index
-
65%
Quality of life -
63%
Cost of living -
50%
Connectivity -
69%
Weather
70
General
| Currency | ISK |
| Population (in millions) | 0.2 |
| Quality of life (world rank from 1 to 200) | 1 |
| Cost of living compared to Chicago, USA | 10% more expensive |
| Best neighborhood to stay | Vesturbær, Reykjavík 101 |
Culture
| Number of museums and galleries | 30 |
| Top selling local beer | Gull |
| Most popular local dish | Plokkfiskur |
Travel
| Most popular tourist attraction(s) | Hallgrímskirkja, Blue Lagoon, National Museum of Iceland |
| Discount airline | WOW |
| Major airline | Icelandair |
| Largest ride sharing company | Reykjavik Taxi |
| Primary train stations | Reykjavíkurflugvöllur, Reykjavíkurvogur, and Reykjavíkurh |
| Primary airports | Keflavik, Reykjavik Domestic, Reykjavik City Airport |
| Best rental car company | Hertz |
| Used car costs | 500000 ISK |
Connectivity
| Apple store addresses | Austurstræti 8, 101 Reykjavík, Iceland |
| Internet connection (in Mbps) | 100 Mbps |
| Power socket type | C,F |
| Supply voltage | 230V |
| Best electronics store | Búðin |
| Best internet carrier | Vodafone |
| Primary cellular carrier | Siminn |
| Average monthly cost for internet | 5,000 ISK |
Shopping
| The best drug store | Kronan |
| Best restaurant chain | Grillmarkaður |
| The best grocery store | Bónus |
| The most popular fashion brand | H&M |
Regulatory
| GDP per capita | $71,845 / year |
| Average annual income | $50,000 |
| Sales tax rate | 24.5% |
| Income tax rate | 24.75% |
| Tourist visa valid (in days) | 90 days |
Financial
| Average mortgage rate | 4.5% |
| Suggested ATM take out | 10000 ISK |
| Bank that has the most ATM machines | Landsbankinn |
| Average tip in restaurant | 15% |
| Pay using credit or debit card | Not very common |
Health
| Emergency Phone Numbers | 112 (general), 112 (police), 112 (ambulance), 112 (firefighters) |
| Polution per square meter | 4.2 |
| Health quality rank (according to WHO) | 11 |
| Main religion | Lutheran |
Quality of life
65%
-
76%
Safety, freedom, rights -
90%
Traffic -
61%
Property to income -
24%
Crime -
68%
Healthcare -
69%
Weather
Salaries
| Average Monthly Net Salary (After Tax) | ISK 499,253 |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.03% |
Childcare
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | ISK 38,650 |
| International Primary School, Yearly for 1 Child | ISK 831,667 |
Cost of living
63%
-
Purchasing Power
95%
-
Rent
39%
-
Food
80%
-
Restaurant
90%
-
Workspace
14%
-
Transport
20%
Rent
| Apartment (1 bedroom) in City Centre Per Month | ISK 216,757.73 |
| Apartment (1 bedroom) Outside of Centre Per Month | ISK 185,370.92 |
| Apartment (3 bedrooms) in City Centre Per Month | ISK 315,928.57 |
| Apartment (3 bedrooms) Outside of Centre Per Month | ISK 261,851.85 |
| Tennis Court Rent (1 Hour on Weekend), Sports And Leisure | ISK 6,183.33 |
Food
| Milk (regular), (1 liter) | ISK 212.75 |
| Loaf of Fresh White Bread (500g) | ISK 453.36 |
| Eggs (regular) (12) | ISK 759.05 |
| Local Cheese (1kg) | ISK 1,967.78 |
| Water (1.5 liter bottle) | ISK 269.54 |
| Bottle of Wine (Mid-Range) | ISK 2,550 |
| Domestic Beer (0.5 liter bottle) | ISK 418.67 |
| Imported Beer (0.33 liter bottle) | ISK 348.22 |
| Cigarettes 20 Pack (Marlboro) | ISK 1,600 |
| Chicken Fillets (1kg) | ISK 2,433.56 |
| Apples (1kg) | ISK 454.83 |
| Oranges (1kg) | ISK 344.88 |
| Potato (1kg) | ISK 365.45 |
| Lettuce (1 head) | ISK 370 |
| Rice (white), (1kg) | ISK 432.88 |
| Tomato (1kg) | ISK 617.63 |
| Banana (1kg) | ISK 285.71 |
| Onion (1kg) | ISK 187.33 |
| Beef Round (1kg) (or Equivalent Back Leg Red Meat) | ISK 3,667.6 |
Restaurants
| Meal, Inexpensive Restaurant | ISK 2,500 |
| Meal for 2 People, Mid-range Restaurant, Three-course | ISK 15,000 |
| McMeal at McDonalds (or Equivalent Combo Meal) | ISK 2,000 |
| Domestic Beer (0.5 liter draught) | ISK 1,300 |
| Imported Beer (0.33 liter bottle) | ISK 1,117.08 |
| Coke/Pepsi (0.33 liter bottle) | ISK 351.42 |
| Water (0.33 liter bottle) | ISK 271.71 |
| Cappuccino (regular) | ISK 624.17 |
Connectivity
94%
Infrastructure
89/100
Internet speed
92/100
Internet cost
95/100
Pre-paid plan
98/100
Utilities (Monthly)
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment | ISK 12,747.77 |
| 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) | ISK 8.25 |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | ISK 8,932.72 |
Sports
| Fitness Club, Monthly Fee for 1 Adult | ISK 8,995.15 |
| Tennis Court Rent (1 Hour on Weekend) | ISK 6,183.33 |
| Cinema, International Release, 1 Seat | ISK 1,825 |
Transportation
| One-way Ticket (Local Transport) | ISK 550 |
| Monthly Pass (Regular Price) | ISK 9,000 |
| Gasoline (1 liter) | ISK 319.39 |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | ISK 5,050,000 |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | ISK 5,752,416.67 |
| Taxi Start (Normal Tariff) | ISK 730 |
| Taxi 1km (Normal Tariff) | ISK 414 |
| Taxi 1hour Waiting (Normal Tariff) | ISK 8,667 |
