A short post posted by Speculator recently appeared on X and reads as follows:
“Iceland has perfected squeezing rich tourists for their money. Even as a dutchman i’m appalled / impressed”, which is loosely translated into Icelandic: “Iceland has perfected the art of squeezing money out of rich tourists. As a Dutchman, I am full of shock/admiration.”
Iceland has perfected squeezing rich tourists for their money. Even as a Dutchman I’m appalled / impressed
— Speculator (@TheSpeculator0) April 26, 2026
And it was as if the Dutchman, who calls himself Speculator, had dropped a bomb on X. Already one million have seen the post, almost six thousand people have healed, 88 have commented and most of them have described the terrible pricing they have experienced in Iceland, and three hundred have spread the post.
A thousand bucks for parking the car
Speculator says Icelanders have become experts in squeezing the wallets of tourists, if you want to park your car somewhere where no one is, it costs a thousand kalla.
Vísir has actually discussed these parking issues, but here it seems that the wild west reigns in that respect and the cowboys have arrived to whip the cream.
These reflections caused an uproar as horrified tourists spoke out. Dimitri Geier is alone and he says he will never forget a taxi ride from the airport that cost him over fifty thousand ISK.
A bowl of miso soup costs four thousand ISK
The most sarcastic comments are made on a large scale, Icelanders know that you will never come back and therefore charge enough, like four thousand ISK for a bowl of miso soup.
“They sell cans of pure Icelandic air. ‘fckn brilliant’,” says one. And the natives take the same tack and say they are getting ripped off by the price.
The parking issues are actually a separate chapter and the parties within the tourism industry do not necessarily believe that parking farmers are part of the tourism industry, rather that they have hung themselves outside of it. And that they are exempt from VAT, which is madness. If resource taxes do not apply there, where do they belong? People charge like crazy.
The situation is out of control
Pétr says this is not surprising.
“Yes, it’s a bit out of control. And no surprise,” he says, pointing to an article he wrote in 2021 and published on Vísi.
The situation has not improved unless:
“Yes, unfortunately. You can charge anywhere and there are no obligations on the person who charges. The good news is that the Minister of Tourism is going to get involved, but not until 2027.”
Pétur points to Iceland’s industrial road policy, specifically the fourth article on a clear legal framework for responsibility, safety and accessibility in defined geographical areas. The action should clarify responsibility, safety and access to tourist attractions and other defined geographical areas, regardless of ownership.
Parking lot farmers are hardly part of the tourism industry
One must ask: Is pervasive greed a problem in tourism?
“Are parking farmers in the tourism industry? They are reacting and taking advantage of the side effects of the industry,” answers Pétur.
But the comments on X are not only about parking, but in general, people don’t skimp on the big words there; about animal welfare in general in Iceland?
“Yes, it is general and has to do with a super strong króna, the highest wages in the world, inflation and interest rates. Not the greed of tourism companies, as the Central Bank warned that the weak capital position of tourism companies in Iceland was a risk factor for financial stability. They generally do worse than other companies in Iceland and worse than similar companies in our neighboring countries,” says Pétur.
