Iceland? The closest European land to North American shores is more like Halfpriceland these days. Its krona has plummeted against the dollar, bringing what was one of the most-expensive spots on Earth back down to affordable levels, and with travel deals ramping up for the summer season this is the best time in at least five years to take the short flight over to Reykjavik.

I’m not kidding. Last time I was there, in 1996, a large cheese pizza was $35. Breakfast was always included in our hotel, so we brought along baggies to tuck away some bread and cheese to “self-cater” our lunches. Back then, one dollar bought 50 krona, but today it pulls down just under 130. Translation: Prices have fallen by more than half.

Flights are less than five hours from New York and Boston, six hours from Minneapolis, and roundtrip deals from Icelandair start at $500 from the East Coast. Recently added service from Seattle starts at $579.

WORDS HURT MY HEAD. JUST SHOW ME THE ICELAND GALLERY.

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Iceland: How, Where, and Why

Dynamic, emotional, and provocative, the landscape of Iceland begs for immersion, from the deep fjords in the northwest to the massive glaciers in the south. Exotic and seemingly a million miles away, it’s actually just six hours from the East Coast. The Kentucky-sized island is blessed with sea kayaking, trekking, hiking, mountain biking, ice climbing, and many other flavors of adrenaline, but the cool thing is that the Middle Earth topography and ethereal sub-arctic light make an adventure of just breathing the Icelandic air.

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WHERE TO GO Iceland’s 830-mile Ring Road circles Bjorkland, looping through volcanic wastelands, across massive floodplains, in the shadow of rugged mountains, and below Europe’s largest glacier. Trying to circumnavigate in a week seems frantic—budget more time or pick a single region and go deep. The best introduction to Iceland’s fire, ice, fog, rain, hot springs, and waterfalls is in the south, just a few hours from Reykjavik. Mandatory stops just off the road include Skogafoss and Seljaland waterfalls and the wind-swept black sand beach that looks onto the three sea stacks of Reynisdrangur. Nearby is Thorsmork, a long, river-braided valley ringed by glaciers and dotted with trekkers’ huts. Thorsmork is networked with hiking trails through some of the prettiest terrain in Iceland; it’s also the traditional terminus of a four-day hut-to-hut trek from Landmannalaugar, which IS the prettiest terrain in Iceland. The Iceland Touring Association runs thirty-four huts, including here.

REYKJAVIK Legoland writ large, Reykjavik is small, colorful, clean, and efficient, and what it lacks in warmth it makes up in style. The downtown scene centers around Laugavegur street, where graffito-walled boutiques nestle against cafes which snuggle against bookstore after bookstore (Icelanders read more tomes per capita than any other nationality).

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WHERE TO SLEEP (AS IF) Hostels aren’t quite the deal you might expect, though by Icelandic standards they’re certainly a lot more affordable. Reykjavik City Hostel is about $45 a night, without breakfast. A better option is Sunna Guesthouse in the heart of downtown—a single without a bath runs about $80.

EATS The best, cheapest, healthiest food in Reykjavik is served up by organic free-range Icelanders at the vegetarian A Naestu Grosum restaurant, upstairs from a rock n roll clothing shop and across the street from Kaffi Hljomalind, home of the town’s most caffeinated coffee.

GET DOWN Reykjavik’s party scene is legendary, but it only detonates on weekends and usually doesn’t go off until midnight or later—alcohol is so spendy the locals libate in pre-party private parties. In other words, everyone strutting the streets at 11 is a tourist just like you. Most clubs are centered around Laugavegur, including Nasa, which has the biggest dance floor, and Pravda.

RESOURCES Typically utilitarian, Lonely Planet’s Iceland guide (Lonely Planet Press, $20) offers a terrific no-frills overview, but Insight Guides’ Iceland is richer in history, culture, and photos. In Iceland, The free Reykjavik Grapevine is your best English-language beta for what’s happening in town. Most bookstores stock topo maps of the entire country, which you can preview (or order) online from the National Land Survey. The indispensable site for weather and road conditions is www.vegagerdin.is.

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OUTFITTERS Mountain Taxi runs regular day tours and multi-day expeditions in massive customized Ford Excursions, starting around $140. Lava tubes, glacial caves, ski touring…Ultima Thule can you deeper than you ever imagined going.

GETTING AROUND The usual suspects of car rental are found at the international airport (just add “.is” to www.budget, etc.), but most visitors jump on the Flybus, which costs 1,700 krona for the 50-minute ride into Reykjavik, with free transfer to major hotels. Iceland buses are burly—the 4WD monsters ford bridgeless rivers daily–and relative cheap.

WORDS HURT MY HEAD. JUST SHOW ME THE ICELAND GALLERY.

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