Cost of living comparison

compared to

Venezuela vs. Iceland Cost of Living Summary

Venezuela is 63.0% cheaper than Iceland overall.

Restaurants: pay 61.9% less in Venezuela
Groceries: pay 38.5% less in Venezuela
Transportation: pay 50.8% less in Venezuela
Housing: pay 81.0% less in Venezuela
Childcare: pay 81.6% less in Venezuela
Entertainment and Sports: pay 70.3% less in Venezuela
Clothing: pay 57.1% less in Venezuela

Expenses including childcare, housing, entertainment and sports, restaurants, clothing, and transportation are lower in Venezuela.

Venezuela vs. Iceland Cost Breakdown

If you lived in Venezuela instead of Iceland, you would:

Display currency: USD

pay 61.9% less for restaurants

	Iceland	Venezuela
Basic meal with drink at inexpensive restaurant	$26.52 ISK3,394	$8.27 VEF82.48	-68.8%
Fast food combo meal McDonalds, or similar	$21.32 ISK2,728	$9.58 VEF95.53	-55.1%
Bottle of Coca-Cola (11 fl. oz)	$3.11 ISK398	$1.21 VEF12.05	-61.2%
Bottle of water (11 fl. oz)	$2.72 ISK348	$1.02 VEF10.20	-62.4%
Average			-61.9%

Iceland vs. Venezuela - Cost of restaurants

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pay 38.5% less for groceries

	Iceland	Venezuela
Bread 1 loaf	$3.80 ISK487	$1.95 VEF19.46	-48.7%
Local cheese (8 oz)	$9.44 ISK1,208	$2.93 VEF29.24	-68.9%
Milk (1 gallon)	$7.78 ISK996	$7.15 VEF71.33	-8.1%
Eggs 1 dozen	$6.71 ISK859	$2.52 VEF25.18	-62.4%
Boneless chicken breast (1 lb)	$11.22 ISK1,436	$3.00 VEF29.96	-73.2%
Apples (1 lb)	$1.50 ISK191	$2.45 VEF24.44	+63.9%
Bananas (1 lb)	$1.15 ISK147	$0.63 VEF6.32	-44.7%
Oranges (1 lb)	$1.41 ISK181	$0.69 VEF6.92	-50.9%
Tomatoes (1 lb)	$2.34 ISK300	$0.90 VEF9.00	-61.4%
Potatoes (1 lb)	$1.65 ISK211	$0.86 VEF8.61	-47.6%
Onions (1 lb)	$1.09 ISK140	$0.85 VEF8.51	-21.9%
Average			-38.5%

Iceland vs. Venezuela - Cost of groceries

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pay 50.8% less for transportation

	Iceland	Venezuela
Gasoline (1 gallon)	$9.65 ISK1,235	$1.89 VEF18.88	-80.4%
Monthly public transit pass	$79.56 ISK10,182	$28.25 VEF281.77	-64.5%
New Volkswagen Golf 1.4 (standard edition)	$49,144.25 ISK6,289,481	$26,687.50 VEF266,194.50	-45.7%
Taxi trip in downtown area (5 miles)	$25.55 ISK3,270	$22.35 VEF222.88	-12.6%
Average			-50.8%

Iceland vs. Venezuela - Cost of transportation

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pay 81.0% less for housing

	Iceland	Venezuela
Internet connection 50 mbps or faster, cable/dsl	$95.65 ISK12,241	$36.50 VEF364.02	-61.8%
1-Bedroom apartment in downtown area	$2,289.17 ISK292,968	$195.38 VEF1,948.84	-91.5%
1-Bedroom apartment outside city center	$1,830.04 ISK234,209	$132.78 VEF1,324.39	-92.7%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$65.15 ISK8,338	$14.35 VEF143.11	-78.0%
Average			-81.0%

Iceland vs. Venezuela - Cost of housing

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pay 81.6% less for childcare

	Iceland	Venezuela
Private preschool for 1 child, monthly	$334.67 ISK42,830	$75.56 VEF753.63	-77.4%
Middle school for 1 child, two semesters	$30,711.08 ISK3,930,404	$4,352.50 VEF43,414.02	-85.8%
Average			-81.6%

Iceland vs. Venezuela - Cost of childcare

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pay 70.3% less for entertainment and sports

	Iceland	Venezuela
Domestic/local beer (1 pint)	$11.14 ISK1,426	$1.40 VEF13.97	-87.4%
Cappuccino in mid-range area	$5.62 ISK720	$2.20 VEF21.96	-60.9%
Pack of cigarettes Marlboro or similar	$13.90 ISK1,778	$3.51 VEF34.99	-74.8%
Monthly membership at local gym	$78.17 ISK10,004	$33.36 VEF332.70	-57.3%
Movie ticket to theater/cinema	$16.75 ISK2,144	$4.83 VEF48.21	-71.1%
Average			-70.3%

Iceland vs. Venezuela - Cost of entertainment and sports

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pay 57.1% less for clothing

	Iceland	Venezuela
Regular jeans Levi's brand	$130.91 ISK16,753	$43.83 VEF437.18	-66.5%
Regular dress from H&M or similar store	$61.83 ISK7,913	$37.95 VEF378.50	-38.6%
Running shoes Nike or Adidas	$163.81 ISK20,965	$73.01 VEF728.25	-55.4%
Men's business shoes (leather)	$237.31 ISK30,371	$76.30 VEF761.08	-67.8%
Average			-57.1%

Iceland vs. Venezuela - Cost of clothing

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The statistics used to build this comparison are calculated using data from users just like you. We average the price of thousands of data points entered by users across the world. Learn more about our data sources. Page last updated: December 2025

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