I had a colleague who had ties to family in Iceland and she and her husband tooks the kids back every year to keep in touch with extended family there. The people are very family-oriented. I don’t remember her complaining about high prices or anything negative. Their home base in the US was Iowa which has pretty cold winters so they’re used to a cold climate.
I can pronounce it but most folks there who can’t say if just called it EFJ. It is really 3 words all run together.