FAQs
Jon Ogmundsson, managing director of Lyst, holder of the McDonald's franchise in Iceland, said the rising cost of importing ingredients and no sign of economic recovery meant the business was no longer financially viable.
Why did McDonald's pull out of Iceland? ›
Metro is an Icelandic fast food restaurant chain. It replaced McDonald's after McDonald's left Iceland on 30 October 2009, as a result of the 2008–2011 Icelandic financial crisis and high import tariff on imported ingredients.
How much does a Big Mac cost in Iceland? ›
A Big Mac in Reykjavik already retails for 650 krona ($5.29). But the 20 percent increase needed to make a decent profit would have pushed that to 780 krona ($6.36), he said.
What are the possible reasons for the challenges faced by McDonald's in Iceland? ›
During the economic crisis, the value of Icelandic króna, the official currency of the country, dropped horrendously. As you can probably guess, Iceland's geography is not favourable to growing every ingredient in a McDonald's burger, and the country had to rely on imported goods.
Where does a Big Mac cost $18? ›
Every few weeks since late fall, receipts for an $18 Big Mac meal from a Connecticut rest stop go viral online — with social media users lining up with their own staggering drive-thru receipts and searing comments, many of which communicate something along the lines of the title of a similarly-viral TikTok video, “ ...
Why is Iceland so expensive? ›
Iceland is relatively expensive compared to many other countries but on the other hand, the average salary is higher than in most other countries. There are several reasons for Iceland's high prices, including a small market, oligopoly, high reliance on imports, geographical isolation and high import taxes and tolls.
How much does McDonald's cost in Iceland? ›
A burger combo meal at the McDonald's equivalent will cost around 2000 ISK or $14 USD. If you're looking for a traditional Icelandic hot dog, it will only set you back about 500 ISK or $3.50 USD. A more extravagant hot dog with different ingredients and toppings combined with a soda costs around 1500 ISK or $10.50 USD.
How much is a pizza in Iceland? ›
Domino's Pizza is the most popular fast food in Iceland and has branches around the country. Their most popular pizza (Domino's Extra) costs 2290 ISK (15 EUR/16 USD) for a small one and 3840 ISK (25 EUR/26 USD) for a medium sized.
Where is the cheapest Big Mac in the world? ›
The ten countries with the lowest Big Mac Index are Turkey, Hungary, Taiwan, Malaysia, Egypt, India, Indonesia, South Africa, Romania, and Venezuela. In Venezuela, the cost of a Big Mac is just $1.76, a reflection of the nation's ongoing hyperinflation and currency devaluation.
Are there Starbucks in Iceland? ›
There's no Starbucks in Iceland
It's a side effect of being a small country, we don't want other bigger countries to take over. So we tend to prefer Icelandic shops, and we already have two pretty big café chains, Kaffitár and Te og Kaffi, plus a lot of local or smaller cafés.
In parliament, politicians felt that beer was, in a way, a “gateway” alcohol, leading to heavier and more consumption. The logic behind this argument was questioned at the time, not only because hard spirits were being legalised over beer at the time.
When was the last McDonald's sold in Iceland? ›
iceland mcdonald's | TikTok. The final McDonald's burger sold in Iceland in 2,009. is still free of mold. Back in 2009, McDonald's closed down all of its Icelandic restaurants.
Is a Big Mac meal really 18 dollars? ›
Yes, that Big Mac meal may cost $18 — but there's one good reason for it - MarketWatch.
Why are Big Macs so expensive? ›
An $18 Big Mac combo might seem expensive to many, even if it is the “true” cost that factors in rising rents, the cost of beef and grain, and the cost of fair wages.
How much does a Big Mac cost in 2024? ›
Big Mac index worldwide 2024
At 8.17 U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the January 2024 Big Mac index. Concurrently the cost of a Big Mac was 5.69 dollars in the U.S., and 5.87 U.S. dollars in the Euro area.
When was the last McDonald's served in Iceland? ›
The final McDonald's burger sold in Iceland in 2,009. is still free of mold. Back in 2009, McDonald's closed down all of its Icelandic restaurants. due to the recession.
What country no longer has Mcdonalds? ›
North Korea has no McDonald's outlet as it wouldn't allow any 'imperialist country's company'. Also, the company said that North Korea is not a good place for business due to a lack of demand.
Why was beer banned in Iceland? ›
When full prohibition became law 100 years ago, alcohol in general was frowned upon, and beer was especially out of favour – for political reasons. Iceland was engaged in a struggle for independence from Denmark at the time, and Icelanders strongly associated beer with Danish lifestyles.
What country is Mcdonalds leaving? ›
CHICAGO, May 16, 2022 – After more than 30 years of operations in the country, McDonald's Corporation announced it will exit the Russian market and has initiated a process to sell its Russian business.
