🇪🇸 Cost of Living in Canary Islands - Prices & Budget Guide
Last updated: February 2026
Economic Indicators
GDP per Capita (PPP)$57,965 (2024)
Inflation Rate2.8% (2024)
Health Spend per Capita$3,107 (2023)
Out-of-Pocket Health Spend20.9% (2023)
Education Spend (% GDP)4.6% (2022)
Source: World Bank Open Data
The cost of living in the Canary Islands is generally moderate, with prices comparable to other European destinations, but with a unique blend of Spanish and African influences that can make it an attractive and affordable destination for visitors and expats alike.
Quick Facts
Cost LevelModerate
Daily Budget (Backpacker)$60-100 USD
Daily Budget (Mid-Range)$100-200 USD
Daily Budget (Comfort)$200-350 USD
CurrencyEUR
Tipping Customnot expected, but 5-10% in restaurants and bars is common
How Expensive Is Canary Islands?
The Canary Islands, located off the northwest coast of Africa, are a Spanish archipelago with a subtropical climate and stunning natural beauty. The cost of living in the Canary Islands is generally moderate, with prices comparable to other European destinations. However, the islands' remote location and limited connectivity to the mainland can drive up the cost of certain goods and services, particularly food and transportation. Compared to other European island destinations, such as the Azores or Madeira, the Canary Islands offer a relatively affordable lifestyle, with a unique blend of Spanish and African influences.
In terms of global averages, the Canary Islands are more expensive than many destinations in Latin America or Southeast Asia, but more affordable than many major cities in Western Europe or North America. The cost of living in the Canary Islands is also influenced by the islands' popularity as a tourist destination, with prices for accommodation and activities tend to be higher during the peak season (December to April).
Accommodation Prices
Type
Price Range (USD/night)
Notes
Hostel/Budget
$20-40
typical quality, shared rooms and facilities
Mid-Range Hotel
$80-150
what to expect, comfortable rooms and amenities
Luxury/Resort
$200-400
what to expect, high-end facilities and services
Apartment Rent (monthly)
$400-1,000
city center vs outside, with utilities and amenities
Food & Dining Prices
Meal Type
Price Range (USD)
Street Food / Local Eatery
$5-10
Casual Restaurant
$15-25
Mid-Range Restaurant (2 people)
$30-50
Fine Dining
$50-100
Beer (local)
$3-5
Coffee
$2-4
Water (1.5L bottle)
$1-2
Transport Costs
Transport
Cost (USD)
Local bus/metro ride
$1-2
Taxi (per km)
$1-2
Domestic flight
$50-100
Fuel (per liter)
$1-2
Monthly Budget Breakdown
Category
Budget ($)
Mid-Range ($)
Comfortable ($)
Rent
400
800
1,500
Food
300
600
1,000
Transport
100
200
300
Utilities
100
200
300
Entertainment
200
400
600
Total
1,100
2,200
3,700
Money-Saving Tips
Consider visiting during the off-season (May to November) to take advantage of lower prices for accommodation and activities.
Look for apartments or rooms outside of the city center to save on rent.
Eat at local eateries or street food stalls to enjoy traditional Canarian cuisine at affordable prices.
Use public transportation or walk/bike whenever possible to save on fuel and taxi costs.
Take advantage of the islands' natural beauty and free attractions, such as beaches and hiking trails, to save on entertainment costs.
Shop at local markets or supermarkets to save on food and other essentials, and consider buying in bulk to reduce waste and save money.