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.
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 are in the Faroe Islands from May to August. Photo by CatalinT
The nature of the Faroe Islands boasts waterfalls, scenic seaside views and breathtaking 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 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 you save some money.
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:
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. Banknotes can be used across the archipelago. The coins used are 50 oyra, 1 króna, 2 krónur, 5 krónur, 10 krónur and 20 krónur.
Credit cards are accepted throughout the country. It is really not nescessary to bring cash with you in the Faroe Islands and foreign currencies are as a rule of thumb not accepted in the country.
Exchange rates for the Faroese króna as of June 2020 are roughly: DKK 100 = €13.4 / £12.1 / $15.2.
There are lots accommodation options in the Faroe Islands. There is a guest house or more than one in all towns. You will find good Airbnb options in even the most remote settlemets 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 hotel is 1050 DKK. You can get a quality Airbnb for 750 DKK a night.
Traditional waffles are served at various cefés and restaurants in the Faroe Islands. 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.
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 Faroe Islands are not part of the European Union. This means that you can shop tax free.
This view from the small settlement Saksun lies only a 45 minutes drive from the capital, Tórshavn. Photo by Smit on Shutterstock.
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. 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.