Yes, the prices are now eye-watering in the main Mediterranean hot spots, whether the Côte d’Azur, Capri, or Sicily. This is partly due to surges in visitor numbers: Sicily was already seeing record-breaking visitors in 2022—up almost 60 percent year on year—before The White Lotus turbocharged interest in the island. The post-Covid surge in spending among five-star properties hasn’t abated, and most see no reason to not hike rates since demand remains high. Long term, more travelers will likely start to feel as you do, noting that the value, rather than the cost, of the room is diminishing, and they will look for alternatives. You’re ahead of the curve, and we have some suggestions to help you.
It isn’t just Italy and France where value for money is hard to find. Prices in Croatia have skyrocketed as well, notes Gary Portuesi of Authentic Explorations. He suggests that the country’s adoption of the Euro earlier in 2024 provided an ideal excuse for upcharging. “Prices have doubled there in the past two years,” he says.
One place where the currency remains weak against international exchange rates is Turkey. The Turkish lira continues to hit record lows against the dollar. For example, in January, it was 37 percent weaker compared to 12 months earlier. As a result, luxury options remain a relative steal, says Sandy Cunningham of Uncharted, who is a fan of the Six Senses Kaplankaya near Bodrum. “It has a massive spa, more than 100,000 square feet, and is a great option for clients who want to be on the coast,” says Cunningham. Japan is another destination where luxury is more affordable due to the yen’s continued struggle against the dollar, sinking to its lowest level since 1990 a few months ago.
Alternatively, consider not changing your destination but opting for a different accommodation style. Booking a villa rather than a suite or two at a hotel can offer better value, especially if you’re traveling with children or friends. “If there are six of you, that’s when the value for money kicks in,” says Ileana von Hirsch of Five Star Greece, who specializes in the villa sector. She notes that her clients are now often staying much longer in the Mediterranean than they might have a decade ago, booking three weeks instead of one, thanks to the flexibility of remote working. “As long as they have good office facilities and satellite internet, they’re happy to stay longer,” von Hirsch adds. “For a long stay like that, villas represent even better value for money.”
Emerging islands can offer even better value. Lesbos, for example, is a new option von Hirsch has recently scouted. She describes it as looking like Delphi but without the crowds and notes it has an international airport and a huge forest in the middle. “Lovely properties there would be twice the price in Paros or Antiparos,” she says.
