International Cost of Living Calculator

We provide international cost of living and hardship data so that you can create reports online (24X7) using any of the calculators:

Expat Salary: Salary purchasing power parity calculator, for simple cost of living comparison and international salary calculation (e.g. to compare a salary offer).

Cost of Living Comparison: Cost of living allowance calculator, compares cost of living and hardship and calculates a cost of living allowance based on the difference.

International Cost of Living Index: Cost of living index calculator, compares multiple locations to a home base (e.g. international offices compared to HQ).

International Assignment: International assignment management calculator, for global mobility managers who use the build-up approach for detailed international assignment salary and allowance calculations.

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Mobility Calculators

Do you need a Cost of Living Comparison Calculator?

The global cost of living calculators have been created to compare the cost of living in every country and major city in the world, to help you manage short and long term assignments (page down for a description of each cost of living calculator):

Cost of Living Allowance
Cost of Living Index
International Assignment Management
Salary Purchasing Power Parity
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International Cost of Living Calculator Pricing

7 Day Subscription = $39 per location (minimum of 2 locations required)

Annual Subscription = $89 per location (minimum of 2 locations required)

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Location Rankings

Cost of Living Comparison by City and Country

Find out the World Rankings Today

Most Expensive Location Rankings

Latest Basket Group Rankings

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Location Reviews

Cost of Living Review by City and Country


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Iceland, All Areas

Iceland, All AreasIceland is an island between the Greenland Sea and the North Atlantic Ocean, northwest of the United Kingdom. The climate is temperate, moderated by the North Atlantic Current, with mild, windy winters and damp, cool summers.

The official language is Icelandic. Most people, particularly the younger generation, also speak English and Danish. The main religion is Christianity.

The economy of Iceland is a small mixed economy with high levels of free trade and government intervention and subject to high volatility.

Icelanders are generally non-confrontational, preferring to reach decisions through consensus, which may entail lengthy discussion. An Icelander's surname is their father's name, followed by 'son' or 'dottir', respectively. The telephone directory is listed by first name. Expatriate business dress is usually fashionable and conservative.

The security risk for expatriates in Iceland is low. The largest risk for expatriates are the extreme climatic conditions.

The currency of Iceland is the Iceland Krona (ISK). Credit cards are widely used. Icelandic Kronur are available through banks and cash machines in Iceland. Some banks may require advance notice before allowing debit or credit cards to be used in Iceland.

The standard of healthcare in Iceland is good, however costs of treatment for expatriates from outside the EU can be high.

The population of Iceland is 348,600 (2018 est.), while the inflation rate (CPI) is 2.3% for Iceland as at April 2018.

For a single Expat, the personal income tax rate in Iceland is a combination of progressive state income tax rate and a flat rate municipal tax up to a combined maximum of 46.24%.

Cost Of Living

The cost of living for expatriates / professional migrants in Iceland as at 1 April 2018 is very high in comparison to other places in the world.

In Iceland, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports):
1) Alcohol (where available) & Tobacco: High
2) Clothing: Very High
3) Communication: Low
4) Education: Average
5) Furniture & Appliances: Average
6) Groceries: Very High
7) Healthcare: Average
8) Household Accommodation: High
9) Miscellaneous: Very High
10) Personal Care: High
11) Recreation & Culture: Very High
12) Restaurants Meals Out and Hotels: Very High
13) Transport: Very High

Iceland is for example 18.7% more expensive than USA for groceries, -2.1% cheaper for household costs than UK, and 180.9% more expensive for transport costs than India.

Iceland is ranked as a high degree of hardship location.

The hardship premium for Iceland for an expat from Australia, is for example 20%, i.e. host location (Iceland) premium of 30% minus home (Australia) location premium of 10%.

Want to know more about cost of living, hardship (quality of living) or expat salary in Iceland? Register subscribe to your home location and Iceland and run your personalised reports.