Election spending in Iceland reaches nearly 200 million krónur, with Katrín Jakobsdóttir leading costs

The recent presidential election in Iceland cost candidates and their supporters nearly 200 million Icelandic krónur, with more than half of that budget allocated for advertising. Total expenditures reached approximately 195 million krónur, of which close to 50% was financed by individual contributions. Interestingly, only one candidate received more funding from companies than from individuals.

The financial overview submitted to the National Audit Office indicated that the campaign funding rules established at the beginning of the millennium have led to stricter regulations. Previously, there were no limits on fundraising or spending for presidential elections. For instance, candidacies in 1996 reportedly cost over 100 million krónur each, making the current elections far less expensive in historical context.

Katrín Jakobsdóttir led the spending tally, with her campaign costing 57 million krónur—29% of total candidates’ expenditures. Her campaign spending alone exceeded the combined costs of the next two highest spenders, Halla Hrund Logadóttir and Halla Tómasdóttir. A total of five candidates incurred campaign costs of 20 million krónur or more.

Katrín also attracted the highest individual contributions, totaling nearly 42 million krónur, considerably more than any other candidate. Halla Tómasdóttir received the most business sponsorships at over 12 million krónur.

Campaign advertising costs were notably high, amounting to 100 million krónur collectively, with Katrín’s campaign bearing the largest expense at 26.5 million krónur. Meanwhile, candidates sold merchandise to raise funds, with Katrín generating 4.5 million krónur from this initiative.