1 - Icelandic krona

Reykjavik flights from £186 Compare all offers

If you thought the pound has tumbled in value recently then spare a thought for Iceland where in December last year £1 bought 175ISK but now gets you 201ISK. Terrible news for the Icelandic, sure, but great news for the British as it makes this country, typically known for being expensive, incredibly affordable. A few minutes researching on the net underlines just to what extent this is true. You can now stay at either the Hilton or Radisson for under £50 per night and even prices of main courses at some of Reykjavik's top restaurants convert to only £12. For a coffee expect to pay around £1.20 and a beer will set you back just over £2, that's 'a big beer' according to the lady we spoke to at the Icelandic Tourist Board!

Despite being only 3 hours by plane from London, Iceland truly is a world away. Its vibrant capital Reykjavik, which sits on bubbling thermal underground springs, has everything you need for an enjoyable short break. Its modern side, including boutiques, top notch eateries and a thriving arts scene sits alongside the stunning natural backdrop of Mount Esja and the Atlantic. Take a dip in the Blue Lagoon (30? adults, kids under 13 go for free) whose temperature remains at between 37° and 39° and enjoy the fresh, clean air and striking surroundings, just 40 mins by bus from Reykjavik. Set sail from the harbor in search of puffins, dolphins or whales, or if its dry land you prefer then why not soak up the history on a tour of the city's sites.

The Gullfoss Falls, while not being the country's largest by any means, are certainly amongst the most spectacular and are not far from Reykjavik. Geysir, the oldest known geyser, is another must-see just a 2-hour drive from the capital. If you plan on staying longer than a few days and fancy some real adventure then there are a whole host of different activities to enjoy in Iceland from trekking to white water rafting, from outdoor swimming to glacier climbing. They are many different companies offering excursions and they can be quite pricey, however if you go for one that charges in IKS rather than in Euros you may well find you get great value for money bearing in mind the organisation and expertise that such activities demand.

To find out more about the country and what it has to offer, the Icelandic Tourist Board website is a good place to start. What's sure is that this economic situation won't last forever so take advantage of the weak ISK for a holiday you'll never forget.

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