Renowned for its luxurious hotels and high-end lifestyle, Mykonos is often perceived as one of the most expensive Cycladic islands.
But is it true? The straightforward answer is an emphatic “absolutely,” but that shouldn’t deter you from visiting.
The hefty costs in Mykonos can be mitigated by savvy planning, including choosing the right time to visit, getting creative when booking accommodation, and researching restaurants ahead of time.
In this blog post, we’ll break down the expenses of a Mykonos holiday, and give you tips on how you can make it a more afforable one!
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Why Is Mykonos REALLY That Expensive?
The surge in tourism across Greece has, as expected, driven up prices, with popular destinations like Mykonos experiencing the most significant impact.
I can say with confidence that Mykonos is pretty much the most expensive Greek Island.
The popular Greek Island has a reputation as a “millionaires island”. So that should give you a hint as to what you can expect to pay in just a few days Mykonos.
But, with my tips and information below, there are ways to visit that don’t involve breaking the bank.
What Makes Mykonos SO Costly?
These are the 3 factors that drive the price up in Mykonos:
- Hotel costs
- Food & drink
- Sunbeds and minimum food purchase requirements
Creative Ways to Save Money On the Big Three in Mykonos
Hotels
Have you ever heard of using credit card points for your hotels? I am a big believer in these points programs, if done correctly, you achieve FREE hotel stays!
Honestly, if you can find affordable accommodations Mykonos doesn’t have to cost you an arm and a leg.
Start researching early and utilize points whenever possible!
Food & Drink
Who says you need to spend over 100 euros for a fantastic meal in Mykonos? If you love Greek food, check out the street food vendors listed below for some amazing options.
Why not get it to go and sit by the Harbor at sunset.
Best Street Food in Mykonos Recommend by Locals (Tourist Tested)
- Pepper ($)
- Souvlaki Story ($)
- Sakis ($)
Sun Beds & Beach Clubs
Sunbeds in Mykonos can be surprisingly expensive, often starting at 150€ for front row seats.
While the cost adds up, especially with minimum food and drink purchases during peak season, it’s worth the splurge if you’re on vacation.
To save money, consider visiting in the off-season, like late September, when prices are lower.
☀️ My sun bed cost 30€ for the last row, and there was no minimum cost for food or drink.
Expense Guide To Mykonos Prices
When planning your trip to Greece use a travel budget calculator to keep track of your expenses.
- Accommodation:
- Budget hotels/hostels: €50-€150 per night
- Mid-range hotels: €150-€400 per night
- Luxury hotels/resorts: €400-€1,000+ per night
- Vacation rentals: €100-€800+ per night (depending on size and location)
🛌 I always find awesome deals with Booking.com
- Food:
- Budget (fast food, street food, or self-catering): €10-€25 per meal
- Mid-range restaurants: €25-€50 per meal
- High-end restaurants: €50-€150+ per meal
- Three-course meal at a decent restaurant: €40-€80
- Local beer or wine: €4-€10 per glass
- Transportation:
- Local bus ticket: €2-€5 one way
- Taxi (short distance): €10-€20
- Rental car: €30-€70 per day (depending on car type and season)
- Water taxi: €5-€20 depending on distance
- Entertainment & Activities:
- Entrance to beach clubs: €20-€50 (can be higher for renowned venues or special events)
- Historical sites and museums: €5-€15 entrance fee
- Water sports and boat tours: €50-€150+ depending on activity and duration
How Much Does It Cost To Get To Mykonos?
There are a few ways to get to Mykonos some routes are more have a higher price tag than others.
✈️ Fly directly to Mykonos. $$ (Prices vary)
Believe it or not, this might be the most affordable option to get to Mykonos. I like using Skyscanner when searching for the best deals. I’ve seen flights for 60€ from Athens.
⛴️ Take a Ferry to Mykonos. $$ (price varies)
The cost to get to Mykonos via ferry will depend on your departure point. If you are traveling from the island of Sifnos for example the ferry ticket could be pretty cheap.
If you spend a couple of days in Athens and travel to Mykonos from there the ticket will likely be more. **Ferry Tickets in September 2023 were €70 each way to and from Athens
🚁 Private Helicopter. $$$$
Now I don’t think I need to tell you that this option is the most expensive way to get to Mykonos. Unless you are a guest of the person paying for the helicopter 😉
Average Price For a Hotel in Mykonos
The hotel prices in Mykonos are the highest in June, July & August. I’ve seen hotels starting at 175€ per night.
Also, the prices are higher the closer you are to Mykonos town and places like Paradise Beach Club.
By exploring just a bit outside the main areas, you can significantly reduce your hotel expenses in Mykonos.
A way to achieve this would be to rent a car and stay out in areas such as Ornos.
Hotel Options For Every Budget
MyCocoon Hostel
For a great stay in an affordable hostel, check out Mycocoon!
$$ Budget accommodations or basic rooms typically start at €100-€200 per night.
Myconian Korali
This boutique hotel is one of the best in Mykonos!
$$$ Mid-range hotels or boutique accommodations you can expect to pay from €200-€400 per night.
Santa Marina, a Luxury Collection Resort
For the ultimate experience in Mykonos check out this luxury hotel.
$$$$ Luxury hotels or high-end accommodations in prime locations can go upwards of €400, with many premium spots reaching €800 or even much more per night.
Best Option For Vacation Rentals & Villas
If you are looking for short-term rentals here are a few to check out:
Food and Drink Prices
When it comes to food and drink on the island of Mykonos, is it crazy overpriced? While it can be a YES, you have more to work with here than you do with accommodation prices.
If you want a top-rated dining experience in Mykonos, expect to pay upwards of 100€. Mykonos is one of the Greek Islands for foodies after all.
But if you are someone who can get down with some cheap street food, then you are looking at about 10-12€ per meal.
How Much is Beer in Mykonos?
Drinking a Mythos, Apha, or Aaos beer is going to cost you anywhere from 7€ to 12€ depending on where you are.
What is the Most Expensive Restaurant in Mykonos?
One of the top-rated and labeled as the most exorbitant restaurant in Mykonos is Thioni Restaurant.
Affordable Restaurants in Mykonos Recommend by Locals (Tourist Tested)
- Captain’s – Best restaurant by water! I highly recommend the wild greens, zucchini balls, and sea bream fish!
- La Petite Taverne– Traditional Greek Food! It is affordable and located in the old town. Try the taramouslata!
- Kounelas Fish Tavern– Located in the old town and has some of the best fish in Mykonos!
Cost of Getting Around in Mykonos
If you want to fully explore the small island of Mykonos on your own time, you should rent a car.
Car rental prices vary, but if you reserve a car well in advance you often get the best deals!
If you are trying to save money when visiting Mykonos you can take the bus. It’s cheap! You can get a ticket for 3.60€ roundtrip, but cash only.
The public transit buses will take you are the entire island to places such as Oronos, Kalo Livadi, New Port, Kalafatis, Ano Mera, Agios Stefanos, and Panormos.
One of the mistakes to avoid in Mykonos is planning to use taxis all the time. Taxis are not cheap and can be hard to find during the busy months.
🚌 Download Mykonos Bus Schedule Timetable
📲 Downloadable Map of Mykonos
📍 Get the FREE pre-pinned Google Map of Myknons and all the top tips for exploring the island!
📍 Download the Premium Google Map with 60+ sites including Beaches, Bars, Restaurants, Transit Hubs, plus a digital planner!
👩🏻💻 Need Help Planning Your Trip? Get a customized itinerary!
Do You Need To Rent A Car in Mykonos?
Whether you NEED to rent a car in Mykonos depends on a few things.
- Where you are staying and is it far from the port?
- How many days you will be staying in Mykonos?
- How many secluded beaches and activities do you want to do?
If you are planning to just stay in Mykonos for 2 days, and are staying close to the port I don’t think you need to get a car.
🚗 Search Rental Car Rates in Mykonos
Best Time to Visit Mykonos On A Budget
The best time to visit Mykonos on a budget is in the shoulder season, specifically the end of the season, like October.
If you are looking to visit Mykonos at the best time of the year for a party, then you want to visit in July and August.
Personally, I don’t visit Mykonos for the party, so I visit the island at the end of September.
The weather is still very warm and welcoming. At the end of the season, you will find the best prices and more space overall on the island.
Final Tips to Save Money in Mykonos
- Travel in the Shoulder Season: Visiting during July and August, otherwise known as the high season can be expensive. Consider going at the end of May or mid-September.
- Accommodation Choices: It’s all about finding affordable hotels! The trick is to book EARLY, think 8 months out. Consider staying slightly outside the main areas or Mykonos town for better deals.
- Eating Out: Instead of high-end restaurants, opt for local cuisine without the premium price. On a strict budget? Good to the grocery store and have a picnic. If you’re a beer drinker, buy from local brands or look for happy hour deals at popular beach clubs.
- Transportation: Utilize public transportation like the local bus and consider water taxis or shared taxi services instead of private taxis.
- Activities: Skip the parties at the beach clubs and enjoy the gorgeous beaches. Also, explore archaeological sites and ancient ruins for a taste of ancient history without spending much. Walking through the small streets of Mykonos town or Little Venice can be a free and delightful experience.
- Flights: Look for direct flights or deals from the United States or other countries to Mykonos.
- Shop Wisely: Don’t come to Mykonos Island ready to shop. Come prepared with everything you need, especially things like sunscreens. They really get you on the essentials!
- Avoid Tourist Traps: Places like Little Venice are beautiful but can also be pricier due to high demand. Venture out and explore the rest of the island for a different story.
- Day Trips: Instead of staying overnight, consider a day trip from Athens. Or plan on staying on one of the cheaper Greek islands and then doing a day trip from there.
Read Next: Best Day Trips From Mykonos
Is Santorini More Expensive Than Mykonos?
In my experience, Santorini was a little more expensive than Mykonos, but not by much. They offer different kinds of experiences.
In Santorini, you are paying for the dramatic views and idyllic sunsets. In Mykonos, you are paying to be part of the who’s who at the vibrant beach clubs.
Conclusion: Is Mykonos Worth The Cost?
In my experience Mykonos is worth visiting despite the cost. It’s an iconic island that you should experience and if you budget correctly, it is managable.
It is not impossible to visit Mykonos without a lot of money, but staying in other places on a budget, like Athens is a lot easier.
If you read this and still find Mykonos a bit too pricey at the moment, I encourage you to explore other budget-friendly islands near Mykonos!
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