Mykonos is famed for its hedonistic nightlife, wild beach parties, boutique shopping, and delicious Mediterranean cuisine. The island is particularly popular with the rich and famous and is often referred to as “paradise for celebrities”. Yep, you’ll need your A-list spotters on full here!
Unfortunately, Mykonos is also the most expensive Greek island. The average cost for a one-week holiday to Mykonos is around $2,000 for a solo traveler, $3,500 for couples, and $8,000 for families! A holiday could set you back nearly double the price of other comparable destinations like Athens and Milos.
However, it is still possible to visit the island while watching the euros and the cents. This guide will share some money-saving tips for travelers to Mykonos, and offer a complete rundown of what things cost, from the average price of a 5-star resort to the cost of a bottle of water at the local supermarket.
Ready? Let’s go…
The average cost of a holiday to Mykonos
Mykonos isn’t a shoestring destination by any stretch. It’s normal to pay several thousands of dollars for a stint here. In fact, we’d estimate the average cost of a trip for a family of four to be in the region of $8,000/week. That drops to about $3,500/week for couples, and to around $2,000/week if you’re going it solo. Of course, you can send that skywards by choosing to stay in one of Mykonos’s top hotels (and there are loads of top hotels here), but you can also cut the price by being savvy with what you spend (more on that later).
Here’s a roundup of some more average day-to-day outgoings you can expect in Mykonos:
|Meal for one at restaurant||$20|
|Bottle of water (supermarket)||$1.30|
|Can of coke (restaurant)||$4|
|Average hotel cost (one night)||$120|
|Private island tour (half day)||$85|
|Day cruise (with lunch)||$110|
|Average cost per day||$120|
Accommodation prices in Mykonos
It’s no secret that accommodation is one of the biggest expenses on any holiday. It’s no different on Mykonos. In fact, Mykonos is one of the Greek islands best known for its chic and stylish resorts. Many of the places here are unabashedly luxurious, boasting infinity pools that sprawl over the hilltops, direct beach access, or opulent suites done out in swish minimalist styles.
But there are bargains to be had if you know where to look. That could either mean straying a little from the most popular areas around Mykonos Town and Paradise Beach. Or, it could mean sifting through the hotels that are available to find the more wallet-friendly establishments. We’ve included a couple of those below, along with one option that we think really is worth stretching the budget for if you’re willing:
- Palladium Hotel ($$$) – Rooms start at $300 per night. Ideal for families and travelers who seek luxury.
- Acrogiali Beach Hotel Mykonos ($$) – Rooms start from $130 per night. A mid-range option which combines comfort and affordability.
- Studios Manos Flora ($) – Rooms start from just $70 per night. A budget-friendly option for backpackers and travelers.
Is Mykonos expensive to visit for foodies?
The allure of the Greek kitchen is hard to deny – from super-fresh tomato salads to fried saganaki cheese, herbal ouzos to stacked moussaka, there’s all sorts you’re going to want to try. On Mykonos, there are a handful of dishes that every culinary buff should sample between their party nights and beach days. They include the cold-cut charcuterie known as louza, which is fantastic with your evening wine overlooking the sunset, and the tangy kopanisti country cheese, along with oodles of grilled seafood fresh from the Med.
But is Mykonos expensive to visit for the food? Sadly, the answer has to be yes. Compared to other Greek islands in the region – Milos, Tinos, and Naxos especially – the restaurants here will charge a premium. That’s largely down to the fact that Mykonos’s establishments tend to be a touch chicer and more stylish than classic Greek tavernas elsewhere. They often tout menus of creative degustation with paired wines that come in with higher price tags. We’d estimate that a full three-course sitting in a mid-range restaurant on Mykonos costs around $20-45 per head, depending on whether drinks are included.
High-season travel can be expensive
Like Ibiza and Zante and Aiya Napa before it, Mykonos really only parties for half the year. In fact, the high-season months run parallel with the main travel season all across Greece. Things get lively around early June and don’t wind down again until late August. The vast majority of the 500,000 or so yearly arrivals will jet into Mykonos Airport during these balmy months, which busies the beaches but also kicks up the price of everything from hotels to car rentals.
As a rough estimate, we’d say that the average cost of accommodation has at least a 40% premium during the most popular travel season. That’s pretty hefty. What’s more, there’s a lot going for the island in the shoulder-season periods of spring and fall. We actually prefer the steady 70-75 F (22-23 C) temperatures of May and October, when the sand stretches are much quieter and it’s far easier to score a hotel by the coast.
Of course, there are trade offs. You won’t get to indulge in the height of the Mykonos hedonism. The main parties all happen in the midst of the more wallet-busting time of year. On the other hand, that should free up precious hangover time to do some other things, like tour the Mykonos windmills or visit the ancient sanctuary of Delos over the water.
Drinking in Mykonos on a budget
It should hardly come as a surprise that one of the main expenses for travelers to Mykonos is the drinking. From chilled days in the stylo clubs of Paradise Beach to evening cocktails in Little Venice to pumping parties in Mykonos Town, C₂H₆O (that’s alcohol, just so you know!) is the lubricant of the lot on this good-vibes island. Unfortunately, drinks rarely come cheap. In fact, we’d say tipples on Mykonos are among the most expensive we’ve seen across the whole of the Cyclades chain (a chain, mind you, that includes Santorini!).
The solution? Purchase your alcohol at the local minimarts and drink before you go out. If you plan on experiencing the famous Mykonos nightlife (and let’s face it, who doesn’t?), then we’d recommend buying your own. The average cocktail costs $12+ in a club, but you can score a whole bottle of mixer and spirit for that in a shop. Beer will also cost between $8-10 in a bar, but between $1-2 in a grocery store. Also keep the eyes peeled for happy hour deals, which can start at anytime after 4pm most days.
Be wise with your accommodation picks
As we’ve already said, it’s likely that most of the budget is going to be spent on accommodation on Mykonos. The average 5-star hotel will set you back upwards of $300 per night! Wow. So, why not opt for something cheaper like a hostel or a guesthouse? From just $60 per night, you can grab a modern one-bedroom apartment that’s within reach of the best beaches and covers all the basics of an island stay.
It can also pay to steer clear of the most popular parts of the island. As a general rule, the farther you head from Mykonos Town the cheaper the hotels will get. Places on the less-visited east and north coastlines are sure to be considerably less. However, before you get tempted by the price, consider what a stay there means. The vibe is totally different to the Mykonos you might be after. It’s quiet, rustic, remote, and you’ll have to rent a car to get around, which can add more to the outgoings overall. Food for thought.
Is Mykonos expensive to visit? Getting there
The first step in planning any Mykonos vacation is getting there in the first place. Thankfully, that’s made a whole load easier than you might expect. The reason? This is one of the few Greek islands that has its very own airport. What’s more, the proliferation of flights to Mykonos in the high-season months especially helps to add some much-needed competition on the price front. It’s not uncommon to find that the cost of a ticket on a budget airline (always check Ryanair, easyJet and WizzAir first for the lowest prices) beats the cost of a ferry in from Athens or Santorini, even though one promises to get you straight to Mykonos within just a few hours.
You should also find that the cost of airfare shoots up in the days immediately before departure. Sadly, buying flights to Mykonos isn’t a process that rewards spontaneity. So, do some early planning and bag your seats at least 90 days prior to take-off. That way, you could be in line for savings of up to 60%. Not bad, eh?
Mykonos on a budget: Some extra money-saving tips!
There’s no sugarcoating it: Mykonos is an expensive destination. But don’t despair. There are ways you can experience this jet-setter corner of the Greek islands and turn it into somewhere that won’t break the bank. Here are just a few in-the-know tips to help you:
- Travel during the low season – June to September is the peak season in Mykonos, and prices tend to be almost double during this period (just think what that means in the hotels!). Low-season costs can be just a fraction, but you’ll need to pre-book transport (especially ferries) to ensure you travel on a day when there’s a connection.
- Book early – Pre-booking things like hotels (we use Booking.com) and ferries is a sure fire way to pay less. You’ll often get deals that mean 10% or more off the cost of a room. With the boats, tickets will almost always get pricier the closer you get to the day of travel. The same goes for flights.
- Pick your restaurants wisely – There are many restaurants in Mykonos that cater to the more affluent traveler. We’re going to go out on a limb here and say that they probably don’t serve the food you’re after anyway. Steer clear of their degustation menus and fusion food in favor of the local stuff – you’ll pay less and the cuisine is more authentically Greek!
- Don’t rely on taxis to get around – Taxis are prohibitively expensive on Mykonos. Like, second-mortgage-required sorta’ expensive. We recommend hiring either an ATV or scooter as a cheap alternative. Obviously, they’re no good for getting back to the hotel after a night out (NEVER drink and drive here, or anywhere else!) but they can take you to the remoter beaches on the east coast or to the hidden hill villages during the day. Remember, you will need an international driving license to be covered by insurance in the case of an accident.