Is Madeira cheap or expensive?

Compared to other European destinations, Madeira offers good value for money and in my opinion, is relatively cheap (I’m from the UK, which is quite expensive).

While it can be more expensive than some mainland Portuguese locations, it is generally more affordable than other popular island destinations like the Canary Islands or the Balearic Islands.

Cost of Accommodation

Madeira has plenty of accommodation options to suit all budgets. On the lower end there are hostels, budget hotels and guesthouses. The prices for these typically range from €15 to  €60. These options are generally basic but comfortable.

Mid-Range hotels and apartments tpically cost between  €60 and €120 per night, which is a great option for couples and families, and luxury accommodations range from €150 to over €300 per night.

Airbnb’s are another great accommodation choice, and are what we have gone with on both visits to Madeira. You can usually find private rooms for around €30 –  €50, and apartments anywhere from  €50 – a couple of hundred euros a night. 

Cost of Food

Much like accommodation, the cost of food varies depending on where you are and what you’re looking for. Local cafes and bakeries usually charge between €3 and €10 for pastries, sandwiches and coffee. 

Dining at mid-range restaurants will cost around €10 to €30 per person for a meal, including a drink.  High-end restaurants and hotel dining can cost €50 or more per person.

Buying your own food and preparing your own meals is a much cheaper option, with a weekly shopping budget of around €30 to €50. 

We recommend trying the local dish “bolo do caco” (Madeiran flatbread), it’s sold pretty much everywhere on the island and is delicious! It’s a great lunch as there’s plenty of filling options and it’s very cheap, usually a couple of euros!

Cost of Car Hire & Fuel

The price of a car hire generally depends on your age, the car type and when your visiting. Typically, the price varies between €15 - €50 per day. Based on a current search for a 25 year old driver, you can get a decent car for as little as €100 for 7 days. The average price of fuel in Madeira is around 1.50 euros per liter.