Home Europe Spain Is Ibiza Expensive? Our Expense Guide to the Balearic Island

Is Ibiza Expensive? Our Expense Guide to the Balearic Island

Ibiza blue seas
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The jewel of the Balearics, Ibiza is a dazzling isle in the Mediterranean where scenic coastal villages meet raging European nightlife, turquoise seas roll into rugged coves, and glimmering beaches stretch on for miles. Once a hippie outpost and now a much-vaunted vacation hotspot, it’s among Spain’s most popular destinations between May and August each year. But is Ibiza expensive?

Sadly, the answer is yes, Ibiza is expensive. This island is up there with the priciest places in the whole of Spain. People who come here are often happy to fork out loads for sleek, five-star hotels and world-class DJ nights in super-famous clubs. What’s more, the price of flights and travel – even if you’re only coming in from Europe – can skyrocket in the summer months when everyone else wants their taste of the fabled White Isle.

This guide will dive a little deeper into the cost of vacationing in Ibiza. It will look at what you can expect to spend on individual aspects of your trip to this salt-washed rock at the southern end of Spain, from the cost of party nights in Amnesia (one of the most legendary clubs on planet Earth) to the price of hotels in Ibiza Town and San Antonio (the two main resorts).

The average cost of a holiday to Ibiza

Ibiza town
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The average cost of a trip to Ibiza is about €150 ($147) per person, per day. That adds up to €1,050 ($1,031) for a whole week on the White Isle, but it doesn’t include the cost of travel there in the first place. Add that on, and you’re looking at a total of about €1,250 ($1,227) if you’re flying from Europe and something over €1,650 ($1,620) if you’re coming from the USA or another long-haul destination.

Of course, this is all based on estimations. It is possible to travel to Ibiza for a whole load less than what we’ve listed above. That’s thanks to the abundance of budget hostel accommodation and midrange B&Bs, street food, and cheaper towns away from the main resorts. Doing that can cut the cost of a trip to around the €80 per day mark, which would make a week’s long vacation here just €560 ($550).

On the flip side, it’s also possible to travel to Ibiza for LOADS more. Ibiza is all about sparkle and glamor, especially when it comes to the world-renowned beach clubs, bistros, and bars in San Antonio and Ibiza Town. Those don’t come cheap – they are even pricier than in Madrid! Then you factor in the high-class hotels here, which can be over €700 per night in some cases. Staying in those will turn the cost of your trip into something nearer the €10,000/week mark.

Day-to-day costs in Ibiza

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Day-to-day outgoings in Ibiza are likely to be higher than they are in the rest of Spain. Restaurant prices, accommodation, and groceries are all around 20% higher on this island than in the booming capital of Madrid. What’s more, Ibiza is close to 60% more expensive for food than mainland resorts like Alicante, and as much as 130% pricier for rent and accommodation.

So, it should hardly come as a surprise that the average traveler will spend more on general goods and food. Here’s a quick look at some example prices that you’re likely to come across on the White Isle…

  • Mid-range Meal for two – €72.50 ($71)
  • Takeaway Cappuccino – €2.30 ($2.26)
  • A bottle of Coca-Cola in a restaurant – €2.10 ($2.06)
  • A bottle of water from a supermarket – €1.30 ($1.28)
  • Two mixed drinks in a seaside bar – €10 ($9.82)

How much does it cost to travel to Ibiza?

boat on beach in Ibiza
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The cost of flights to Ibiza always depends on where you’re coming from. Traveling from Europe and mainland Spain in particular, will be the cheapest way to reach Ibiza. Average costs from London to the island range between €90 ($98) and €160 ($175) return, while you can travel from New York for €591 ($640) to €939 ($923). Expect similar prices from Sydney of around €550 ($604) to €850 ($934) and €506 ($556) to €859 ($945) if you’re coming from Canada. 

Many of the above destinations don’t actually offer direct flights into Ibiza and you’ll likely have to fly into Madrid or Barcelona to change. This can make your trip more of a hassle, but choosing a route with more stop-offs can actually keep the costs down. Another option is to fly to an airport on Spain’s east coast like Valencia or Alicante and get the ferry to Ibiza…

There are six ports along the coast from which you can reach Ibiza. The fastest and cheapest route is from Denía, a charming historical city located in between Valencia and Alicante, an hour from both. The ferry takes around three hours and costs €25 each way to Ibiza Town, but prices depend on the time of year. If you can find cheap flights to either of the nearby airports, or you’re backpacking mainland Spain before visiting Ibiza, the ferry could be your best bet for saving money.

The price of hotels in Ibiza

hotels in Ibiza
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Once you’ve got your travel under wraps, accommodation is the next biggest expense. When it comes to Ibiza, this is where you might struggle to stick to a budget. However, with such a high saturation of hotels, you could find attractive last-minute deals from competitive business owners trying to lure tourists in and fill their empty rooms. Still, waiting to book could run you the risk of missing out on the budget options, so it’s always a risk leaving it to the final moment.

Your best bet is to avoid the touristy areas like San Antonio and Ibiza Town and head to areas like Sant Josep de Sa Talaia, a quiet inland town in reaching distance of San Antonio entertainment, or Santa Eularia des Riu, on the eastern coast made up of small fishing villages and quiet coves. Those are just two examples, but there are plenty more places out of the spotlight that offer better hotel bargains.

Here are some examples of specific hotels in Ibiza that we love and what you can expect to pay in each…

  • Hostal Residencia Europa Punico ($) – Hostels are the way to go for real budget stays. Bag a private room in the center of Ibiza town with breakfast included for €73 a night. 
  • Apartamentos Rios ($) – Starting at €194 a night, save money and cook for yourself in these two-bedroom self-contained apartments in Santa Eularia des Riu. Grab some friends and this comes out at less than €50 a head.  
  • El Puerto Ibiza Hotel Spa ($$) – Base yourself bang in the middle of the action with this budget four-star hotel and spa, starting at €124 with breakfast included. 
  • Insotel Club Tarida Playa ($$) – Four-star beachfront accommodation with all your meals included for €176 a night. Better yet, it’s just a stone’s throw from San Antonio. 
  • Hotel Rural Can Partit ($$) – Escape the crowds for some peace and quiet in this rustic Santa Agnes de Corona adults-only hotel. Breakfast is included for €199 a night. 
  • 7Pines Resort Ibiza ($$$) – Five-star accommodation without the faff. This hotel is complete with a sea-view infinity pool and in-house spa. Private suites start at €400 with breakfast included. 

Is Ibiza expensive for food and drink?

A bar in Ibiza
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You’ll struggle to find a meal in any restaurant for less than €10 ($11) in Ibiza, but local dishes and fast-food chains are the least expensive options. Expect to spend €11 ($12) for a full English breakfast in an Ibiza cafe or hotel, €20 ($22) for a set lunch menu, and around €17 ($18) for a typical main meal.

Don’t expect to get cheap local food wherever you go. Dishes like paella and tapas might be ubiquitous across Spain, but they can have huge markups in popular areas. A seafood paella will set you back around €25 ($27) in Ibiza, and tapas can be €10 ($11) a plate.

Your best option for pinching pennies is to make your own meals. Choose accommodation with a kitchen and head to Aldi, the European supermarket giant. There’s one in Ibiza Town and it’s widely considered to be the cheapest option around. Expect slight markups – Ibiza is an island after all! Alternatively, there are markets where you can shop for more local ingredients and still pay less – check out the weekend San Juan market and the daily organic market on Plaça de la Constitució in Ibiza Town.

The cost of drinking and nightlife in Ibiza

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You can grab a glass of wine in a local bar or restaurant for €5 ($5.50), but hotels and nightclubs will send these prices soaring. A liquor and mixer can cost between €12 ($13) and €15 ($16) in a normal bar and between €18 ($20) and €25 ($27) in one of the island’s super clubs. Beers in sunset bars will usually also be around the €5 mark. They are more than half that from the local supermarkets.

Alcohol also isn’t the only expense to consider if partying is on the agenda. If you’re planning to visit any of the major European club groups that have outposts on the island – the likes of Pacha or Amnesia – you’ll need to budget €35 ($38) to €90 (99) just for the entry ticket! Beach clubs can be cheaper, but you might need to pay €10 ($11) to €20 ($22) to reserve a sun lounger or day bed and most will come with a minimum spend. The upshot? You could end up racking up a €100 ($110) bill just to drink and eat on the beach all day!  

When is the cheapest time to visit Ibiza?

A boat in Ibiza
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The best weather in Ibiza is from May until September. The warm Mediterranean summer is in full swing at this time of year with average temperatures in the low 80s and clear blue skies basically every singel day. It’s no surprise then that this is the busiest – and priciest – time of year on the island. Tourists flock in their thousands for the opening parties that kick off in early May and it doesn’t slow down again until the middle of October.

If you want to catch a bit of Ibiza action, but you’re after cheaper prices and less scorching heat, April or October, shouldering either side of the the peak season, are the best times to visit. You’ll find an average of eight hours of sunshine per day and temperatures in the mid-60s then, with hotel and flights that usually cost at least 50% less.

Ibiza experiences very little rainfall all year round, but temperatures do drop in January, hovering around 30 to 40 degrees Fahrenheit. As such a party hotspot, the island is also noticeably quiet throughout winter. Still, this could be great if fewer crowds and low-season discounts are what you’re after.  

Is Ibiza expensive to move to?

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Yes. Ibiza is one of the most expensive places in Spain to buy property. According to SpainHouses.net, you’re now looking at paying in the region of €5,900 per square meter of property on the island. That’s more than double the Spanish mean and adds up to an average property value of a whopping €2.1 million.

On top of that, Prestige Properties note that demand for villas and flats on the White Isle has grown in the two years since the pandemic, helping to push rates up even faster. Specific areas that buyers are looking to include the northern chillout spot of Sant Joan and the family-friendly resort of Santa Eularia.

That doesn’t have to burst your dream of living the good life on the pebbles and between the olive-dotted peaks of Ibiza, though. There are ways to live here without breaking the bank. You could consider time sharing property, which means paying just a fraction of the cost but only having your house or villa for a fraction of the year. Or there’s renting, which averages between $1,000-$2,500 per month depending on where you want to stay.

Money saving tips for Ibiza

Ibiza beach
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So, we’ve established that Ibiza is by no means cheap. But there are ways to save. Check out our round-up of the top tips for watching the dollars on your next outing…  

  • Visit out of season – This is by far the the easiest money-saving tip when it comes to visiting any of your bucket-list destinations. If you’re after a sun-soaked summer holiday in the Med, head to Alicante or Malaga for great deals. But if your sights are set on Ibiza, visiting in early spring or late fall will be significantly cheaper.
  • Avoid taxis – Ibiza is well connected and there are a number of different bus routes operating on the island, some well into the night. Familiarize yourself with the timetable, and if you plan to get a taxi home, aim to get a bus to your starting location for a fraction of the cost. 
  • Cook at home – It might be less interesting but it’s the best way to save money in a place like Ibiza where budget eateries are far and few. Even local dishes can set you back 10s of euros, head to Aldi or a local market (more on that next), and try and rustle up the majority of your meals yourself. 
  • Check out the markets – From shopping for beach accessories to looking for fresh produce, you’ll likely pay half the price at a market stall than in a boutique store. Find them all over the island, but the best ones in Ibiza Town.
  • Don’t drink in clubs – Alcohol in Ibiza is extortionate at nightclubs and priced unlike anywhere else in the country. What’s more, these €20 drinks are often watered down, and even if you don’t drink, you won’t be able to get a can of Redbull for less than €10 ($11) in a club. Hit the supermarket before your night out or a cheaper happy hour bar and pre-drink for a fraction of the price. 
  • Come prepared for the beach – Sun loungers come with a price tag in Ibiza and can cost as much as a meal or two just to rent for the day. The beaches are pristine and idyllic on the island, but you’ll need to be prepared so you don’t have to resort to the beach clubs. Bring beach towels, a picnic, and your own shade to enjoy the sands all day on a budget. 

Is Ibiza expensive? Our verdict

Ibiza is undoubtedly expensive. It’s no secret that the European party capital of the world comes at a price and you’ll need deep pockets to survive the ride. Still, there are ways to budget in Ibiza, and visiting for the history, scenery, unspoiled sands, and sumptuous local food, rather than the nightlife, gives you a serious chance at sparing some expenses. Ibiza has always been a hippie-friendly island and there are many layers beyond the craft cocktails, luxury villas, and glitz and glamor waiting to be discovered. From rural campsites to cooking your own local produce, you can really rough it in Ibiza if you know how and it doesn’t have to break the bank. It’s not a budget destination by any means, but you can secure a bargain trip if you follow our tips.