If you're a landscape photographer you know that there are precious few places left in the world that offer a dramatic and accessible landscape and that have not been photographed to death, the way the American southwest has.
With one exception photographic travel in Iceland can be quite inexpensive. If one camps (and there is little alternative if you want to be able to shoot in the best light), the costs are minimal, and when camping food costs can be moderate as well. Flying to Iceland on Icelandic Air, either from the U.S. or Europe is also relatively inexpensive. The real killer is the cost of renting a 4WD vehicle. We paid U.S. $1,500 for a Suzuki Grand Vitara for one week, roughly triple what a similar vehicle would cost in the U.S. Some Europeans take the car ferry from Europe and bring their own vehicle, but this only makes economic sense if you're coming for more than a couple of weeks.