Certain things will make your jaw drop when you arrive in the Faroe Islands: the mountains, the sea view, and the cost of everything. Being located in the middle of the North Atlantic – where most things have to be imported – comes at a price, and that price is in Danish Krone, the islands’ official currency. However, there are numerous strategies to keep your budget manageable.
Recent years have drawn a high number of tourists to this otherwise off-the-beaten-track location, affecting local dynamics. Farmers have started to introduce fees for hiking routes that run through their land, arguing that visitors cause damage and walk on grass their sheep graze. Therefore, while you might be surprised by the need to pay for a walk in nature here, there is a rationale behind it. At the moment, a discussion is underway about replacing this fee system with a straightforward tourist tax, which might simplify matters.
Notably, the Faroe Islanders are not hostile to tourists; on the contrary, their innovative sustainability programme shows that they welcome visitors willing to engage in more responsible tourism.
Keep an eye out for unexpected transport costs. While car rental is reasonable and fuel prices are manageable, additional fees for every undersea tunnel or ferry you use can accumulate quickly. Thus, careful route planning is essential to avoid unexpected expenses.
Daily Costs
All prices are in Danish Krone.
(For reference: 100 kr = £11.50, €13.50, and $14.50)
- Hostel room: 190 kr
- Basic room for two: 900 kr
- Self-catering apartment (including Airbnb): 500-2500 kr
- Public transport ticket: 125 kr / day (based on a 4-day pass at 500 kr)
- Coffee: 30 kr
- Sandwich: 55 kr
- Dinner for two: 750-900 kr
- Beer/pint at the bar: 55 kr
- Car rental: from 250 kr / day
- Hiking trail fee: 100-500 kr (more expensive trails generally include a guide)
- Tunnel toll (return): 100-450 kr
Average daily cost per person: from 2000 kr
Plan Ahead for Cost Savings
This classic advice is especially relevant for those wishing to travel on a budget to the Faroe Islands. Accommodation is limited, and there’s a significant chance you could face formidable prices, no place to stay, and no rental car if you do not plan sufficiently. It’s not uncommon for popular rental properties to be booked out a year in advance. Prices tend to drop during the shoulder season, with October through April being the most budget-friendly times, although these months may bring unpredictable weather for hikers and wildlife watchers.
Avoid Peak Season
If you’re aiming to save money, avoid July and August. Prices reach their peak during these months, especially on July 28-29 around Faroese National Day, particularly in Tórshavn. In this part of Europe, school summer holidays primarily occur in July, impacting flight prices. Planning ahead and booking your trip at least three months in advance is advisable to secure better deals.
Travel as a Group
Pooling resources by traveling as a group is an effective strategy. By splitting costs associated with car rental, fuel, tolls, and rental accommodations, your group can save significantly.
Utilize the Ferry System
Some travelers opt to bring a campervan and sail to the Faroe Islands via Denmark on Smyril Line ferries. This approach not only helps save on accommodation but also allows you to bring food from home. However, keep in mind that ferry fees can add up, and you’ll need to travel to Hirtshals in northern Denmark to catch the boat, which introduces additional expenses.
Choose Self-Catering Options
Consider packing a thermos, renting a cottage with a kitchen, and shopping at local supermarkets (Bónus tends to be the cheapest). If finances are particularly tight, bring food with you to avoid high grocery prices.
Consider Camping
While you may still need to rent a car and bring plenty of gear, camping offers a budget-friendly option once you arrive. Rates at local campsites start at around 100 kr per night, and many are situated in scenic locations, giving you beautiful views of islands, mountains, and the sea. Of course, camping is weather-dependent and may not be ideal in winter.
Another money-saving tip is to look for accommodations outside of Tórshavn. While the capital has the greatest variety of lodging options, prices generally tend to be lower in other areas.
Plan Your Transport Wisely
The good news is that navigating the roads in the Faroe Islands does not require a four-wheel drive. While some roads may appear rustic, they are typically well-maintained. Renting a smaller car is more economical, and it’s possible to manage a trip with one. Furthermore, careful route planning can reduce costs; with a 100 kr toll for most undersea tunnels, it’s wise to find routes that minimize exposure to unnecessary tolls.
Take Advantage of Public Transport
If you have ample time and the proper clothing for windy, often rainy conditions, using the public transport system may suit your needs. Students benefit from a 20% discount as well. Notably, red buses within Tórshavn itself are free. For other areas, a 500 kr public transport card provides four days of travel across the islands, including bus and ferry services, with discounted prices for children. This card can be an excellent value, particularly since the fare from Tórshavn to Gásadalur is around 350 kr on its own.
Finding Affordable Dining Options
Tórshavn is the best spot for reasonably priced dining, offering a diverse selection of cafes, pubs, and varying price points. In other areas, food options can be inconsistent, so fish and chips, using locally caught fish, can provide a filling meal starting at around 100 kr.
Volunteer for Discounts
The Faroe Islands host an annual weekend called “Closed for Maintenance,” where around 100 volunteers participate in trail-building, sign-fixing, and voluntourism. Flights are subsidized, and accommodations are provided, making this a potentially economical option if you manage to secure a spot on the highly sought-after program. Registrations typically open each September.
