Madrid budget

Budget for Traveling to Madrid

If you’re going on a vacation to Madrid, it’s good to have an idea of how much you will likely spend. In this article we will attempt to give an idea – an example of a budget that would be realistic on a trip to Madrid.

Cost of staying in Madrid

You can find decent hotel rooms for 60-80 euros per night. If you are willing to pay 100 euros or more per night, you can find quite good rooms.

The prices are similar for Airbnb apartment. Hostels are a lot cheaper, of course. You can find hostel beds for as low as 20 euros per night.

But let’s assume that the average traveler will pay 70 euros per night for staying in Madrid, regardless of whether it’s a hotel or an Airbnb apartment. Be sure to book at least a month early, to make sure you get the optimal price.

70 euros x 7 nights = 490 euros

Cost of eating in Madrid

You’d probably like to eat out when you get to Madrid. There are plenty of nice restaurants.

Let’s say you spend 20 euros on dinner each night. This is a realistic average. Aside from that, let’s assume 10 euros for breakfast and 10 euros for lunch. A bit high – it can certainly be done cheaper if you want a cheap vacation. You can buy food in supermarkets if you are trying to save, and you can keep your food budget as low as 5-10 euros per day (in total) if you prefer. But: We are assuming you want to eat out and experience the great gastronomic experience of Madrid.

40 euros x 7 days = 280 euros
(But can be done cheaper or more expensive/fancy if you prefer)

Cost of attractions

Most of the nicest attractions in the city are completely free. A trip to the Retiro park, a walk on Gran Vía, watching Puerta del Sol and Plaza Mayor. Some of the museums are also free, but it depends.

For a daily budget of 10 euros for attractions, you will be able to do cool things every day. So let’s stick with that. More is not really needed.

10 euros x 7 days = 70 euros

Cost of transport in Madrid

You can walk around most places in central Madrid. It’s a surprisingly compact city, at least between the major attractions.

A metro ride from the airport to anywhere in the city will cost 7 euros, but after this you will also have your metro card which can be refilled. The trip back to the airport will be around 5 euros.

Aside from that, it’s fair to put the daily transport budget at 5 euros per day too. It will give you 3-4 rides with metro or bus. And that might even be more than you need.

7 euros to get from airport to centre
5 euros x 6 days = 30 euros
37 euros total

Total budget for a trip to Madrid

One person going on a trip to Madrid for one week would be 877 euros according to the costs we just calculated. This is sort of an average budget – you can spend less if you need to, or more if you have a lot of available ressources.

Of course, this doesn’t take the flight tickets into account. They vary wildly in prices, depending on where you fly from. Besides, not all travelers fly. A lot of people who go to Madrid come by train or by own car. So to conclude – the budget in this article is focused on the costs when you are in Madrid. The cost of getting back and forward from where you live is something you have to add.

Feel free to write in the comment section below if you have questions or remarks!

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