The official currency of Tenerife is the euro. We compare the exchange rates from the UK's biggest currency providers so you can see in an instant who is offering the best euro exchange rates.
Food and drink
Like everywhere in the world there are cheap places to eat and expensive places to eat. But what is the base line? In other words, street food aside how much do you have to pay as a minimum to get a decent meal in a café or restaurant in Tenerife? The current consensus is around €9-10 (about £11). For a two or 3 course meal in a mid-priced restaurant you can double that.
Drinks are generally quite cheap and a lot cheaper for alcoholic drinks than the UK. A bottle of wine can be as little €3. A 500ml bottle of local beer is around €1 and a cappuccino about €1.60 (compare that to Costa in your local high street)! A small bottle of Coca-Cola is around €1.30 and a small bottle of water around €0.60.
If you are self catering then the cost of buying food for your meals is generally a little cheaper than the UK for local produce but not as cheap as mainland Spain which governs the islands. In September 2020 the cost of chicken breast for example was around €5 per kilo, eggs about €2 a dozen and a loaf of bread around €0.90. Fresh fruit and vegetables from a local market would be on a par with the UK.
Travel
A one way ticket on public transport will cost you around €1.40. A taxi to take you to the local bars and restaurants would cost around €10 for a journey of 5km (3 miles) and another €1.10 for every mile after that.
If you hire a car then then petrol is around €1-1.10 per litre, similar to the UK prices.
Car hire prices start from around €100 for a week. That should get you a fully insured 3 door Ford Fiesta or Opel Corsa. If you want a bit more comfort you could go for a Mercedes Clase A or Jeep Renegade for around €220 or if you really want to large it, for a mere €500 for a week you could be driving around in a Range Rover Sport or Mercedes Cabrio. You'd have to be brave to risk that one. And just in case you don't know, they drive on the wrong side of the road – well to us anyway not to them of course! Although Tenerife is the largest of the Islands you can still drive around it in about 4 hours.
Hotels and accommodation
You can find hotels for less than €40 per night. I found quite a few on a search but not many of them had good reviews it has to be said. But, that is the baseline: If you want a budget break you can get one. At the top end of the scale you would be paying €200 plus per night in a more prestigious hotel.
The prices were very similar on Airbnb. Although for €50 plus per night you could get a whole apartment rather than just a hotel room.
Leisure
There are some great places to visit in Tenerife and they include:
- Mount Tiede National Park. Home to a volcano which you can climb to the summit. Cost is actually free (but you do need a permit).
- Whale Watching. You can take a whale and dolphin watching tour, usually a round a 3 hour trip. Cost is from €20-50 per person.
- Lots of beautiful sandy beaches. Cost is free, just pay for ice cream and sunbeds etc.
- Science and astronomy museum. Cost €5 per person.
- Siam Park. A large Thai themed water park. Cost €38 Adult €26 child.
- Visit the lava caves and tunnels in Cueva del Viento. Cost €20 adult and €8.50 child.
- Bajamar natural pools. Cost is free.
So there is a snapshot of potential costs for your holiday in Tenerife. The other Islands of Lanzarote and Gran Canaria will be very similar. We have taken the prices from a number of websites including Numbeo, Traveltables and Cicar and all the restaurant and travel pricing is from Santa Cruz de Tenerife so probably as expensive as it gets. In other towns you may find better value. Like everywhere in the world if you move away from the main tourist areas life is better value.