If you are going to Ibiza or anywhere in Spain then you will need the Euro currency. Planning on how much Euro spending money for Ibiza in Spain you will need, will entirely depend on your circumstances and your holiday booked. For example, are you going self catering, half board, full board and are you planning on eating out, visiting local attractions and how to get about.
One of the easiest ways to budget your holiday money is to work out what your food and transport situation is and how much money per day will you personally need and for any family members that are going with you. We would advise to always over budget to ensure you have a contingency fund and back up credit cards just in case of an emergency.
If you are planning to go to Ibiza for the nightlife then the cost of this is quite expensive from the point of view that nightclubs are expensive to get into and once in their the cost of the drinks are also inflated in comparison to local bars, restaurants or even local supermarkets. If you have booked a self catering or half board holiday in Ibiza then buying some food and drinks from the local supermarkets will be a much more cost effective way of spending money before going out for the night.
In terms of getting about in Ibiza then buses versus taxis will be much cheaper however, this will depend on the time of day that you are planning to travel especially if you are going for the nightlight in Ibiza. In order to help with budgeting we have the following infographic from Travelex which highlights the cost difference between the UK and Spain for specific items such as a Pint of beer, the cost of a three course meal for two people and cigarettes for example:
In recent years the GBP to Euro exchange rate has been very good and using the above Travelex infographic you can see that most daily items are cheaper in Spain versus the UK. With this in mind we would advise budgeting, your daily spend on what it generally costs here in the UK for food, drinks and transport as this will allow you to at least over budget for your holiday money in Ibiza and to work out exactly how much Euro spending money for Ibiza in Spain you will need per day.
If you plan on using your debit or credit card in Ibiza then you might need to consider that your bank or credit card provider might charge you every time you use your card for restaurants, supermarkets or cash machine withdrawals. For more information on the best debit card to use abroad or the best credit card to use abroad please visit our related blog posts which will help to give you some idea of charges from banks. If you are unsure what your bank or credit card provider charges then review their website or get in touch with them before you travel.
Buying euro travel money in advance is the best solution as exchanging GBP to Euro at the airport is the one of the most expensive ways to exchange your money as the exchange rates are poor due to the last minute convenience. We would always advise comparing and buying Euros in advance to help you find the best currency comparison deal. To compare the best Euro exchange rate from all the top UK currency suppliers please visit our currency comparison table for today’s best online Euro exchange rates.
Alternatively, you might be interested in a Euro currency card which you can top up before you go and again whilst you are on holiday just in case you run out of spending money, however, every currency card supplier is different on what fees they charge so please make sure you compare the fees before placing your order. If you come back with any currency cash from your holiday in Ibiza then can always use our currency buy back service which will allow to, compare all the best buy back exchange rates from all the top UK currency suppliers.