Are the Faroe Islands Expensive?

By Guide to Faroe Islands Verified Expert

How much does it cost to go to the Faroe Islands? Are there ways to keep your budget down when you visit Faroe Islands? Is everything in the Faroe Islands expensive? Is there a way to have a cheap holiday in the Faroe Islands? What is the Faroese currency? Read on and discover the best tips on spending and saving money in the Faroe Islands.

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Everyone that has been to the Faroe Islands will know two things for sure: the Faroe Islands is an unbelievable and drop-dead gorgeous country in the pristine North Atlantic Ocean. That said, you will also be told that Faroe Islands and the capital city Tórshavn are quite pricey.

Puffins Faroe Islands — *Puffins are in the Faroe Islands from May to August. Photo by Kah-Wai Lin.*

The nature of the Faroe Islands boasts waterfalls, scenic seaside views, vivid lakes, and breathtaking emerald mountains. The ever-changing landscape attracts visitors in search for adventures and memories to last a lifetime.

Visiting the Faroe Islands is not like an ordinary trip. Travellers describe it more like meditation. You will have time on your own, less people more nature.

What Things Cost in the Faroe Islands

What is good to know before you arrive in the Faroe Islands is that accommodation, food, and transportation can all be quite pricey. This guide will help budget-conscious travellers save some money. Exploring the island group does not have to mean spending big bucks.

There are definitely ways for you to travel in the Faroe Islands without having to empty your bank account. This guide will inform you about the Faroe Islands currency and ways for you to travel, sightsee, commute, dine and shop according to your budget and thereby allowing you to plan your trip and keep your Faroe Islands vacation cost down.

Here is a list of different products and services and their average prices in the Faroe Islands:

Petrol: 12,85 DKK/ £1,33/ €1,59/ $1,74
Airport transfer by bus from Vagar airport to Tórshavn city centre: 90 DKK/ £10,20/ €12,00/ $14,00
Sandwiches on petrol stations: 40 DKK/ £4,55/ €5,40/ $6,25
Tap water is pure and delicious: Free of charge
Coffee or tea: 25 DKK/ £2,85/ €3,35/ $3,90
Pint of beer: 45 DKK/ £5,10/ €6,00/ $7,00
Museum: 50 DKK/ £5,70/ €6,70/ $7,80

The currency of Faroe Islands

Faroese bank notes — *There are five different banknotes in the Faroe Islands. The Faroese currency is linked to the Danish krone.*

The króna is the official currency of the Faroe Islands. The Faroese króna is linked to the Danish krone. Both the ISO code “DKK” and currency sign “kr” are in common use. One króna is subdivided into 100 oyru. Goods can be priced in oyru, but all sums are rounded to the nearest 50 oyru when paying with cash. 50 oyru is one half of a króna.

There are Faroese motives on the banknotes, which comprises 50 krónur, 100 krónur, 200 krónur, 500 krónur and 1000 krónur. The coins used are 50 oyra, 1 króna, 2 krónur, 5 krónur, 10 krónur and 20 krónur. You can use banknotes across the archipelago.

Equally important is the fact that credit cards are accepted throughout the country. You are really not in need of cash. What’s more, foreign currencies are as a rule of thumb not accepted in the the Faroe Islands.

Exchange rates for the Faroese króna as of December 2023 are roughly: DKK 100 = €13.41 / £11.53 / $14.46.

Accommodation and Transport

Football stadium in village — *The quiet village Eiði on Eysturoy island. Only accommodation options in this village is renting a private home. Photo by Victoria Ostapova also know as @vialma on Instagram.*

There are lots of accommodation options in the Faroe Islands. There is a guest house or more than one in all towns. In addition, you will find good Airbnb options in even the most remote settlements like Saksun and Viðareiði with good accommodation standards.

Guest houses are comfortable and hotels are excellent. The average price for a double room at a four star hotel is 1750 DKK. You can get a quality Airbnb for 950 DKK a night.

Dining

Waffle and coffee — *Various cafés and restaurants in the Faroe Islands serve traditional waffles. A waffle and coffee typically costs around 50 DKK.*

Most travellers will find food in the Faroe Islands quite expensive. Beer is expensive too as it is heavily taxed. The same goes for all other alcoholic beverages.

There are some hidden food pearls where you will get a delicious dish at a decent price. The absolute best option here is the restaurant in the FK food shop in Hoyvík, which is a suburb to the capital, Tórshavn. Each Wednesday at noon the restaurant serves the best fish fillet from the Faroe Islands. The price is 65 DKK and it includes coffee. The restaurant is open between 9.00 – 15.30.

Shopping in Faroe Islands

Knitting outdoor — *Knitwear is a popular souvenir in the Faroe Islands. This one is from the local clothing brand Guðrun & Guðrun.*

When on vacation, shopping is always fun. You can shop at reduced tax free prices in the Faroe Islands. You will find most shops in the capital Tórshavn. The most talked about clothing shop in the Faroe Islands is Guðrun & Guðrun. The brand’s flagship store is located in Tórshavn city centre.

The Faroe Islands are not part of the European Union. This means that you can shop tax free.

Sightseeing

House in front of rough sea — The Faroe Islands are known for fresh breeze and unpredictable showers. The sea can turn impressively rough in winter from November to March. Photo by Lucas de França known as @lucasdefranca_ on Instagram.

You really do not have to cover all the 18 islands or even half of them to see Faroe Islands at its best. There is stunning beauty absolutely everywhere. Moreover, you are never more than 5 kilometres away from the ocean no matter where you are in the Faroe Islands.

You will find yourself catching your breath in awe of this place even if you visit four or five of the 18 islands that make up the unspoiled Nordic Archipelago. This can also keep your cost down.

Inspired to visit Faroe Islands? Take the next step and learn more about flights to the Faroe Islands. Make sure to also take a look at the largest selection of Tours & Activities ready to book.