Iceland Mag

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Iceland Mag


Car rental at Keflavík airport has dropped in price by 40% in past 3 years

By Staff

  • Keflavík airport Visitors now pay significantly less for their rental cars than they did in 2014. Photo/Sterfán Karlsson

The cost of renting a car at Keflavík airport continues to drop, according to data compiled by the local news site Túristi. Car rental has dropped by as much as 40% compared to three years ago.

Túristi found that the average price for a two week car rental in June, July and August is as low as 82,000 ISK (831 USD/743 EUR) for a two week rental. In 2014 the lowest average price was 135,000 ISK, or 1,194 USD/876 EUR at June 2014 exchange rate. The average daily price for a car rental at Keflavík in June this year is 5,837 ISK (59 USD/53 EUR), down from 9,655 ISK (85 USD/63 EUR) in June 2014.

Read more: Cost of renting a car at Keflavík airport has dropped by a third since last year

The drop is notable as the Icelandic króna has appreciated significantly over the past years. The 28% currency appreciation of the króna since 2014 has resulted in higher prices paid by foreign visitors for accommodation and most necessities.

The main reason for the price drop, according to Túristi, is increasing supply and competition, as car rentals have grown their fleets.

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