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Is Canary Islands expensive? What things really cost in 2026
Short answer
The Canary Islands are good value for a European sun destination: cheaper than the Balearics or the French Riviera, and food and drink cost less than on mainland Spain's big cities thanks to the lower IGIC tax (7%). A budget day is about €90 per person and a mid-range day about €160. Most of the money goes on accommodation, car rental and inter-island ferries or flights.
Daily budget: backpacker, mid-range, luxury
| Budget | Mid-range | Comfort | |
|---|---|---|---|
| Bed (per person, sharing) | €35 | €65 | €130 |
| Food & drink | €25 | €40 | €75 |
| Sights & tickets | €15 | €30 | €50 |
| Local transport | €15 | €25 | €45 |
| Per person, per day | €90 | €160 | €300 |
Approximate 2026 prices, two people sharing a room. From our Canary Islands day-cost table.
What things cost
| Item | Typical price* |
|---|---|
| Cortado or barraquito coffee | about €1.20–2.50 |
| Papas arrugadas with mojo | about €4–7 |
| Caña of local beer (Dorada or Tropical) | about €1.50–3 |
| Teide cable car return | roughly €40–45 |
| Montañas del Fuego (Timanfaya) entry | roughly €20 |
| Ferry Tenerife–La Gomera or Lanzarote–Fuerteventura | roughly €35–45 each way |
| Fish dinner for two with wine | €45–70 |
| Apartment or 3★ double in winter high season | roughly €90–160 |
* Approximate prices, October 2026. They change with season and exchange rates.
Where the money goes
The islands' high season is winter, when northern Europeans arrive for the sun, so accommodation is dearest from about November to March and in August. A rental car is close to essential away from the resorts and can be cheap off-peak but costly at Christmas and Easter. Island-hopping adds real money in ferries (Fred. Olsen and Naviera Armas) or Binter flights. Sights are reasonably priced, with the Teide cable car and the César Manrique centres (€10–20 each) the main paid items. Eating out in local guachinches and fish restaurants is cheaper than in the resort strips.
When it is cheaper
May, June and October–early November are usually the cheapest months for hotels and cars, often 20–40% below Christmas and February rates, with weather still warm (22–26°C).
How to spend less
- Buy the Cabildo's combined Bono ticket on Lanzarote if you will visit three or more Manrique centres.
- Eat in guachinches in northern Tenerife: simple family wine houses with home cooking at low prices.
- Book the free Teide summit permit and hike from the top cable car station rather than paying for a guided tour.
- Compare Binter flights with ferries for longer hops; flights are fast and sometimes similar in price.
- Stay in a self-catering apartment and shop at local markets and supermarkets.
- Avoid the Christmas, Carnival and Easter weeks, when flights and rooms peak.
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Common questions
Are the Canary Islands expensive?
Not by European resort standards. Food and drink are relatively cheap thanks to the lower IGIC tax. Allow about €90 a day on a budget and about €160 mid-range, plus flights and inter-island travel.
Which Canary Island is cheapest?
Prices are similar, but Tenerife and Gran Canaria have the most competition and therefore the widest choice of cheap apartments and flights.
Do I need a rental car?
For national parks and villages, yes, and it is cheap off-peak when shared. For city and resort stays, buses are enough.