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Dublin Live
09-06-2025
- Business
- Dublin Live
Panic as prices of food and drinks soar by 50% at popular Spain destination
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Over the past five years, food prices on the Balearic Islands have skyrocketed in tandem with the surge in tourist numbers. Essential items such as oil and bottled water have seen a price hike of over 50%. While local protests have primarily centred around the archipelago's strained housing market, believed to be due to an increase in short-term rentals and second-home ownership, a burgeoning cost-of-living crisis is also being experienced in this popular holiday destination. According to a survey by the Balearic Institute of Social Studies, concerns about affording everyday food items surpassed overtourism and the housing market as the most urgent worry among residents, with 84% of respondents classifying it as a serious problem, reports the Express. Alfonso Rodriguez, president of the Consubal consumers association, reported that the price of oil has shot up by 67% since 2020, with sugar, lamb, bottled water and juice all also increasing by approximately 50%, as per the Majorca Daily Bulletin. Alongside growing discontent and a new wave of planned demonstrations, these escalating costs could deter international tourists from choosing Majorca and Ibiza for their summer holidays - research indicates a decline in both domestic and foreign expenditure. Restauración CAEB, a restaurant association, published data showing a revenue decrease in Majorca's hospitality sector of up to 20% during the first quarter of 2025, with both Spanish visitors and those from overseas seeming to spend less than the previous year. The association's president Juan Miguel Ferrer has issued a stark warning about the local economy, stating: "If spending in our sector decreases, it will inevitably affect the entire local economy." Soaring food prices might not only dent tourist wallets but could also stem from the surge of affluent expats, who now constitute nearly half of the archipelago's population. The Balearic Islands' dependency on imports, along with escalating inflation and raw material costs, leaves it exposed to steep food prices. Consequently, business owners may have no option but to transfer these costs to consumers – a move that wealthy expats and tourists might absorb, but one that could exacerbate the financial strain for locals already battling with rent payments. "Majorca has become uber-expensive for the average consumer, and is perhaps in danger of outpricing itself in favour of caressing the plump wallets of the super-rich," journalist Peter Clover wrote in the Majorca Daily Bulletin last summer. "I'm almost certain that somewhere along the line, some retail entrepreneurs are taking the proverbial and raking in the profits, while happily shafting the customer," and concluded, "But that still means that as an island, we take a harder hit than most!" The social studies institute has found that housing access is firing up as the second hottest topic for Balearic residents, with a striking 72% branding it as a "great concern". Meanwhile, a hefty two-thirds of the 1,300 individuals polled expressed deep worry over the lasting impacts of overtourism on their sunny isles. Join our Dublin Live breaking news service on WhatsApp. Click this link to receive your daily dose of Dublin Live content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice. For all the latest news from Dublin and surrounding areas visit our homepage.
Daily Record
09-06-2025
- Business
- Daily Record
Rising food prices in Majorca and Ibiza may deter Brits from Balearic holidays
Food prices on the Balearic Islands have soared alongside the number of tourists visiting the archipelago over the last five years - with the cost of essentials including oil and bottled water spiking by more than 50% Food prices on the Balearic Islands have rocketed in tandem with the surge in tourists visiting the archipelago over the past five years - with the cost of essentials such as oil and bottled water skyrocketing by over 50%. While local protests have primarily centred around the island group's beleaguered housing market, believed to be due to an increase in short-term lets and second-homeowners, a burgeoning cost-of-living crisis is also being experienced in this popular holiday destination. Worries about affording everyday food items surpassed overtourism and the housing market as the most urgent concern among residents, according to a survey by the Balearic Institute of Social Studies, with a staggering 84% of respondents describing it as a serious issue, reports the Express. Alfonso Rodriguez, president of the Consubal consumers association, revealed that the cost of oil had shot up by 67% since 2020, with sugar, lamb, bottled water and juice all also increasing by around 50%, as reported by the Majorca Daily Bulletin. Coupled with growing discontent and a new wave of planned protests, these escalating costs could deter international visitors from choosing Majorca and Ibiza for their summer getaway - with research indicating a decline in both domestic and foreign spending. Data released by restaurant association Restauración CAEB showed a revenue slump in Majorca's hospitality sector by up to 20% during the first quarter of 2025, with both Spanish travellers and those from abroad seemingly spending less than the previous year. "If spending in our sector decreases, it will inevitably affect the entire local economy," warned Juan Miguel Ferrer, the president of the association. The rise in food costs, which some suggest may dampen tourist expenditure, could be attributed partially to a swell in wealthy expats settling on the islands – foreigners now account for nearly half the population across the archipelago. Owing to its geographical position, the Balearic Islands are dependent on importing goods. This, combined with escalating inflation and increasing costs for raw materials, predisposes the locale to higher food expenditures. Subsequently, this scenario might compel business proprietors to relay the financial strain to their clientele – a move manageable by well-off British visitors but likely to exacerbate the plight of local dwellers already contending with steep rent bills. "Majorca has become uber-expensive for the average consumer, and is perhaps in danger of outpricing itself in favour of caressing the plump wallets of the super-rich," commented reporter Peter Clover in the Majorca Daily Bulletin during the previous summer. Clover pressed on with his point: "I'm almost certain that somewhere along the line, some retail entrepreneurs are taking the proverbial and raking in the profits, while happily shafting the customer". However, Clover concluded with a stark reminder: "But that still means that as an island, we take a harder hit than most!" The Balearic locals are raising the alarm on living space, an institute's study shows, with a striking 72% flagging it as a "great concern", and two-thirds out of 1,300 respondents voicing deep fears over the persistent effects of excessive tourism.
