Mallorca and Ibiza are the most expensive Spanish travel destinations

by Lorraine Williamson
Spanish destination, Mallorca

MALLORCA – This year, the prices of hotels and restaurants in Mallorca have increased by more than 10% compared to 2022. No other Spanish destination has experienced a higher price increase in hotel and restaurant costs this year than Mallorca. 

According to data from the Spanish statistics agency INE, the increase in the first six months of 2023 was 10.2% compared to the same period last year. By way of comparison, the national average in Spain, with an inflation rate of 5.2%, was only half that. 

Prices are up to 20% higher than in 2021 

Because the price increase in 2022 was also substantial, prices in the tourism sector in the Balearic Islands are now up to 20% higher than in 2021. No other autonomous region in Spain comes close to this; Galicia and the Valencia region follow with an inflation rate of 17%. 

Cogesa Expats

No fewer bookings 

However, despite the price increases, the Balearic Islands have not seen a drop in bookings. This has been confirmed by the Mallorca-based international bed platform “Hotelbeds”. On the contrary, “Mallorca and the neighbouring islands remain one of the top destinations in Europe for both national and international holidaymakers this year,” said a spokesperson for Hotelbeds. Compared to 2022, booking requests are up 20% so far this year. 

Private vacation rental 

However, the situation is different for private holiday rentals. Maria Gibert, director of the tourist rental platform Habtur, indicated that there is “no difference” compared to the previous season. The price increase in its sector corresponds to the 10% increase for restaurants and hotels set by INE. However, the number of bookings remains unchanged. 

Also read: Were are the houses in Spain most expensive this year? 

You may also like