Cost of living comparison
Busan is 8.5% cheaper than Reykjavik.
- Restaurants
-
pay 54.9% less in Busan
- Groceries
-
pay 35.5% more in Busan
- Transportation
-
pay 46.1% less in Busan
- Housing
-
pay 44.5% less in Busan
- Childcare
-
pay 2.1 times more in Busan
- Entertainment and Sports
-
pay 44.3% less in Busan
- Clothing
-
pay 15.0% less in Busan
The cost of childcare and groceries in Busan are more expensive than in Reykjavik. Expenses including restaurants, transportation, housing, entertainment and sports, and clothing are lower in Busan. Notably, childcare is significantly more expensive in Busan.
If you lived in Busan instead of Reykjavik, you would:
pay 54.9% less for restaurants
|
Reykjavik
|
Busan
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$20.00
ISK2,545
|
$6.45
₩8,915
|
|
|
Fast food combo meal
McDonalds, or similar
|
$18.02
ISK2,293
|
$5.91
₩8,172
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$3.15
ISK401
|
$1.84
₩2,538
|
|
| Bottle of water (11 fl. oz) |
$2.19
ISK278
|
$1.25
₩1,733
|
|
pay 35.5% more for groceries
|
Reykjavik
|
Busan
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.61
ISK459
|
$3.58
₩4,953
|
|
| Local cheese (8 oz) |
$7.76
ISK987
|
$5.10
₩7,057
|
|
| Milk (1 gallon) |
$6.40
ISK815
|
$8.49
₩11,738
|
|
|
Eggs
1 dozen
|
$5.76
ISK733
|
$3.20
₩4,431
|
|
| Boneless chicken breast (1 lb) |
$9.45
ISK1,202
|
$3.64
₩5,032
|
|
| Apples (1 lb) |
$1.40
ISK178
|
$3.74
₩5,167
|
|
| Bananas (1 lb) |
$1.01
ISK128
|
$1.41
₩1,950
|
|
| Oranges (1 lb) |
$1.22
ISK155
|
$3.27
₩4,519
|
|
| Tomatoes (1 lb) |
$2.22
ISK283
|
$2.33
₩3,217
|
|
| Potatoes (1 lb) |
$1.43
ISK183
|
$2.27
₩3,145
|
|
| Onions (1 lb) |
$0.93
ISK119
|
$1.50
₩2,078
|
|
pay 46.1% less for transportation
|
Reykjavik
|
Busan
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.50
ISK1,082
|
$4.38
₩6,063
|
|
| Monthly public transit pass |
$74.95
ISK9,538
|
$42.97
₩59,430
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$42,450.45
ISK5,401,820
|
$27,023.07
₩37,372,666
|
|
| Taxi trip in downtown area (5 miles) |
$24.05
ISK3,060
|
$10.31
₩14,263
|
|
pay 44.5% less for housing
|
Reykjavik
|
Busan
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$69.87
ISK8,890
|
$16.11
₩22,286
|
|
| 1-Bedroom apartment in downtown area |
$1,971.17
ISK250,832
|
$471.50
₩652,081
|
|
| 1-Bedroom apartment outside city center |
$1,803.44
ISK229,488
|
$286.48
₩396,201
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$53.95
ISK6,866
|
$85.90
₩118,792
|
|
pay 2.1 times more for childcare
|
Reykjavik
|
Busan
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$252.14
ISK32,085
|
$477.47
₩660,335
|
|
| Middle school for 1 child, two semesters |
$5,993.99
ISK762,736
|
$13,786.91
₩19,067,181
|
|
pay 44.3% less for entertainment and sports
|
Reykjavik
|
Busan
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$10.81
ISK1,376
|
$3.58
₩4,953
|
|
| Cappuccino in mid-range area |
$5.31
ISK675
|
$3.82
₩5,287
|
|
|
Pack of cigarettes
Marlboro or similar
|
$12.25
ISK1,558
|
$3.22
₩4,457
|
|
| Monthly membership at local gym |
$69.95
ISK8,901
|
$50.13
₩69,335
|
|
| Movie ticket to theater/cinema |
$14.77
ISK1,880
|
$11.10
₩15,353
|
|
pay 15.0% less for clothing
|
Reykjavik
|
Busan
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$108.97
ISK13,867
|
$100.27
₩138,670
|
|
|
Regular dress
from H&M or similar store
|
$49.72
ISK6,327
|
$64.46
₩89,145
|
|
|
Running shoes
Nike or Adidas
|
$151.85
ISK19,323
|
$90.24
₩124,803
|
|
| Men's business shoes (leather) |
$194.16
ISK24,707
|
$114.59
₩158,480
|
|
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