Wondering how much money to budget for Madeira?
This small, mountainous Portuguese island isn’t known for being cheap to visit. However, with the right preparation, you don’t need to overspend.
Over the past couple of years, I have spent over five months in Madeira and travelled the island quite extensively.
Therefore, in this post, I’ll talk about the typical costs for accommodation, transport, tours, food and other key activities.
To help you budget for Madeira, I’ll also share the average costs in Madeira for a budget, mid-range or luxury trip (per day), and my best tips for saving money.
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Is Madeira Expensive to Visit?
Nowadays, it’s quite expensive to visit Madeira as a tourist. However, this is relative…
If you already live or holiday in Western Europe (for example, the UK, France, Germany or the Netherlands), the cost of travelling Madeira won’t seem that different to a holiday to somewhere like London or Barcelona.
On the other hand, if you’re from somewhere like eastern Europe or Asia, you might find the prices of food and accommodation steep in comparison.
Madeira was once known for being one of the cheapest destinations to visit in Portugal. However, in the past few years, accommodation prices have really inflated.
Why? Madeira is a small island with a limited amount of space and a very high influx of tourists.
Most accommodation providers know that they can charge a premium price and always have someone willing to pay it for a once-in-a-lifetime holiday.
Can I Visit Madeira on a Budget?
Despite the above, you can still visit Madeira responsibly and on a budget, if (and only if):
- You plan properly.
- You book your trip in advance (2-3+ months).
Here are some easy ways to reduce costs, from me to you:
- Stay longer. Many accommodations offer discounted monthly or weekly rates.
- Book somewhere with a kitchen. Self-catering will save a lot of money.
- Consider a hostel dormitory. There are limited hostels in Madeira, but if you book 3+ months in advance, you should be able to secure one.
- Hire a car. Tour expenses can quickly amount to more than the daily cost of car hire.
Hiring a car starts at €35 per day – and it can fit up to five people. Most tours cost €30 – €40 per person.
If you’re an experienced scooter rider, you can also save money by hiring a scooter instead of a car.
I hired a scooter to explore the nearby island of Porto Santo. For both islands, but especially Madeira, you need to be an experienced rider capable of handling motorways and steep roads.
How Much to Budget for Madeira (Per Day)
Your Madeira budget will depend on your style of travel.
In general, you can expect to spend this amount per day…
| Travel type | EUR | GBP | USD |
| Budget backpacker | €60 – €90 | £50 – £75 | $65 – $100 |
| Mid-range | €100 – €150 | £85 – £125 | $110 – $165 |
| Luxury | €300+ | £260+ | $330+ |
| Self-catering apartment | €180+ | £150+ | $200+ |
Typical Costs in Madeira
To budget effectively for your Madeira trip, you also need to know the typical costs for accommodation, food, transport and other factors.
Then, you can work out an even more accurate average daily cost based on your needs.
For example, if you need coffee 3x per day, you’re going to spend more than a non-coffee drinker.
Accommodation (per night):
Central locations like the centre of Funchal are typically more expensive.
You can save money by staying somewhere more remote on the north, west or east coast. However, you usually need a vehicle to get around the island because public transport is limited.
| Accommodation type | EUR | GBP |
| Hostel dormitory | €42 – €60 | £36 – £52 |
| Mid-range hotel | €70 – €150 | £60 – £125 |
| Luxury hotel | €250 – €300 | £210 – £25 |
| Holiday rental | €150 – €350 | £125 – £300 |
| Co-living space | €50 – €120 | £40 – £100 |
Coffee:
Coffee is more expensive in tourist areas and ‘upscale’ coffee shops.
At a local coffee shop, you shouldn’t pay more than €0.80 for a bica (espresso) or €2.50 for a milk coffee.
| Coffee type | EUR | GBP |
| Bica (espresso) | €0.70 – €1 | £0.60 – £0.85 |
| Chinesa (small milk coffee) | €1.50 – €3 | £1.30 – £2.50 |
| Galão (similar to a latte) | €1.50 – €3 | £1.30 – £2.50 |
| Specialty coffee | €2 – €4 | £1.70 – £3.40 |
Food:
| Food type | EUR | GBP |
| Sandwich | €4.50 – €6 | £3.80 – £5.10 |
| Pastel de nata (Portuguese pastry) | €1.20 – €1.50 | £1 – £1.20 |
| Main course | €10 – €20 | £8.50 – £17 |
| Dessert | €2 – €6 | £1.70 – £5 |
Groceries (per week):
One week of groceries (for one person) typically costs me €60 – €100 (£50 – £85).
For a small family, you’re looking at paying at least triple that price.
| How many people? | EUR | GBP |
| 1 | €60 – €100 | £50 – £85 |
| 2 | €120 – €180 | £100 – £153 |
| 3+ | €150 – €220 | £125 – £190 |
Transport (per day)
Public transport connections are limited outside of Funchal and other major towns/cities on the south coast of Madeira.
It’s the cheapest way to travel, but the routes are limited; many hikes (including Pico to Pico) are only accessible by car.
You may want to consider hiring a car – at least for one or two days.
| Transport type | EUR | GBP |
| Car hire | €35+ | £30+ |
| Scooter hire | €15 – €30 | £13 – £26 |
| Return bus tickets | €2+ | £1.70+ |
Tours and Activities (per person):
Most tours cost €30+ per person. However, entry to the island’s beaches is free.
| Popular Activities and Tours | EUR | GBP |
| Whale-watching tour | €35 | £30 |
| Pico to Pico hike transfer | €33 | £28 |
| West Madeira tour | €30 | £25 |
| São Lourenco hike transfer | €30 | £25 |
| Cable car to Monte | €20 (round-trip) | £17 (round-trip) |
| Porto Moniz natural pools | €3 (adults) | £2.50 (adults) |
Budgeting for Madeira: Is Madeira Cash-Only?
On your Madeira trip, it’s best to travel with a combination of cash and card.
Some restaurants in Madeira, particularly the small or remote ones, accept cash only. In Funchal, most venues accept cards.
I usually carry a small amount of cash with me (€50 or so) just in case I need it.
Madeira is not considered more expensive than the UK. Grocery costs are generally lower if you shop for local products. Rent prices are typically lower, although newer builds will be quite expensive and comparable to London and other cities.
A three-course meal in Madeira typically costs €20 – €40, depending on the restaurant.
While buying a sandwich should only cost around €5, a main course in Madeira will set you back by around €10 – €20.