Balearic Islands - Money & Costs
Money & Costs in Balearic IslandsCurrency: euro (EUR), formerly Spanish peseta (pta)
Spain was among the first wave of EU countries to adopt the euro, and while the peseta is still the currency of choice, it's slated to be phased out July 1, 2002.
Spain is one of Western Europe's more affordable countries. The Balearics, however, can be comparatively pricey at peak tourist season (June-August). Expect to spend around US$20-25 a day if you're on a budget, and US$40-50 a day if you'd like a few creature comforts like air-con and wine with your meal. If you aim to live it up in a tourist haven like Ibiza City or Palmoa de Mallorca, budget US$60 a day, or more. Lots more.
To avoid the crowds and save money, visit in May-June or September-October. Winter (December-January) can be a peaceful time, but the chilly weather may keep your sunbathing options to a minimum. Many businesses also close during this time.