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Sun, sea and sky-high prices for visitors to Spain this summer
From hotels to tapas, holidays in Spain are likely to be far more expensive in 2024
As the sun shines brighter and the days grow longer, millions of people at home and abroad are eagerly counting down the days until their well-deserved summer vacations. With the official start of summer just around the corner (it’s June 20, by the way), the allure of sunbathing and enjoying a cold drink is stronger than ever. However, this year, many are facing a challenge: skyrocketing prices that make holidays in Spain more expensive than ever.
Unfortunately, inflation doesn’t take a break during the summer. While consumer prices have shown some relief in recent months, certain goods and services remain stubbornly expensive. And, as it turns out, many of these are exactly what we crave during our vacations.
Data from Spain's National Statistics Institute (INE) for May shows that restaurants and hotels have increased their prices by 5.2% since 2023. This makes them the category with the highest price increases, even outpacing the cost of food, which rose by 4.4% during the same period.
If we dive into the details, the picture becomes clearer. The cost of tourist packages to Spain has surged by 17.7% compared to last year, while hotel prices are up by 9.4%. Tourist rentals and takeaway options are also significantly more expensive. All these increases add up, and with high season just around the corner, it’s a perfect storm for holidaymakers.
A deeper dive into the numbers
Let’s break down those numbers a bit more. Since 2019, before the pandemic disrupted travel plans, the cost of a hotel stay has skyrocketed by 36.5%. That refreshing beer you might enjoy on the beach? It now costs 27.8% more. Renting an apartment for your trip to the costas? Expect to pay 27.7% more than five years ago. Even fast food and restaurant meals have increased by more than 20%.
Of course, the cost of everything tourist related varies widely across Spain, with the Balearic Islands, Galicia and Castilla-La Mancha experiencing the highest increases compared to 2019, at more than 27%. On the other hand, Navarra and Asturias have seen smaller hikes, around 21-23%, still substantial but below the national average of 25.3%.
When it comes to accommodation prices, Murcia and the Balearics take the lead, with increases of 39.5% and 37.3%, respectively. Provinces in the Basque Country, Valencian Community and Madrid also exceed the Spanish average of 30% for accommodation price hikes.
Looking ahead
Although it’s still a bit early to predict summer price trends, some estimates suggest that accommodations in popular beach resorts will increase rates by an average of 7.3% this high season. That translates to a nightly rate of 195 euros, a notable jump from last year’s 182 euros.
And while businesses in Spain will never complain about an influx of tourists, the reality is that the sharp jump in prices is closely linked to the boom in international travel. These days, more foreign holidaymakers are visiting Spain, spending more, staying longer and exploring diverse destinations. Their strong purchasing power allows businesses to raise prices, knowing that demand will remain high.
Forecasts indicate that international traveller arrivals will continue to grow this summer. The number of available flights to Spain from the United Kingdom is expected to increase by 8%, and French and German visitors are predicted to continue choosing Spain as their holiday destination. Additionally, direct flights from the United States and China are also projected to increase in frequency.
Image: Pixabay
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