Vacation math has gotten weirder since travel snapped back. A beach week can look affordable on the flight search page, then the bill grows once meals, lodging, and basic outings start stacking up.
To keep this grounded, the index used here is Eurostat’s Harmonised Index of Consumer Prices (HICP) category Restaurants and Hotels, as published in the Federal Reserve Bank of St. Louis’s FRED database. It’s not a “your exact trip” price tag, but it does track the two costs travelers feel immediately: eating out and staying somewhere overnight.
All changes below compare January 2019 to December 2025, using each country’s HICP Restaurants & Hotels series (index, 2015=100). The practical takeaway is simple: if this index has surged, the sticker shock usually shows up first in tourist-heavy dining clusters and headline hotel neighborhoods.
1. Hungary
Budapest still delivers a huge atmosphere for the effort, but the “restaurants and hotels” price curve has moved fast. In FRED’s Eurostat series for Hungary, the index rises from 113.60 (Jan 2019) to 232.28 (Dec 2025)—roughly a 104% jump. That kind of shift tends to show up most visibly around the most visited corridors and late-night districts.
To keep the trip feeling like a bargain, aim your spending where locals still outnumber weekend visitors. Lunch menus, neighborhood bakeries, and market halls can cover a full day of eating without the prime-location surcharge. Lodging often drops once you move a few metro stops out, and Budapest’s transit makes the tradeoff painless.
2. Romania
Romania’s draw is variety—energetic cities, Carpathian scenery, and a Black Sea coast that can feel like a different trip entirely. But costs have climbed in the same categories travelers lean on most. The Romania Restaurants & Hotels series on FRED moves from 106.95 (Jan 2019) to 187.51 (Dec 2025), about a 75% rise. Even if the country still feels like “good value” compared with Western Europe, that surge can change what a casual dinner and a solid hotel cost in real life.
Timing and geography do a lot of the budget work here. Smaller towns in Transylvania, countryside guesthouses, and less-hyped seaside spots can soften costs compared with the busiest city-center corridors. Price out day trips carefully, since guided excursions and private transfers can climb faster than many travelers expect.
3. Portugal
Portugal keeps pulling visitors toward Lisbon viewpoints, Porto riverfront strolls, and Algarve beaches, so demand pressure isn’t subtle. The Portugal Restaurants & Hotels index on FRED climbs from 104.52 (Jan 2019) to 147.74 (Dec 2025)—roughly +41%. When that curve bends upward, the most noticeable hit often lands on hotel rates and restaurant pricing in the most walkable, photogenic zones.
Stretching a trip often comes down to choosing the right base. Staying a short train ride from headline neighborhoods can lower nightly costs while keeping the same day-trip options. Rotating in bakeries, fixed-price lunches, and casual spots helps reduce the “tourist premium” that hits hardest in waterfront dining clusters.
4. Spain
Spain’s popularity is durable, and crowd levels in hotspots can push pricing just as surely as inflation does. The Spain Restaurants & Hotels series on FRED rises from 104.78 (Jan 2019) to 138.22 (Dec 2025), close to a 32% gain. You tend to feel that most in big-city centers and resort zones where supply is tight during prime months.
Planning here is less about deprivation and more about structure. Pick one or two splurge meals, then fill the rest with tapas bars off the main drags and markets where quality stays high. For lodging, booking earlier with refundable options can protect you from late price jumps without locking you into one rigid plan.
5. Greece
Greece adds a special twist: intense seasonality. In the Greece Restaurants & Hotels series on FRED, the index increases from 103.72 (Jan 2019) to 135.77 (Dec 2025), around +31%. Islands that rely on short, crowded peak windows often pass higher operating costs into room rates and menu prices exactly when demand hits its annual high.
A different island choice can change the whole bill. Less-famous places—or staying inland rather than right on the port strip—can bring similar scenery with fewer “front-row” surcharges. May, June, September, and early October often deliver a better balance of weather and pricing than the busiest weeks of July and August.
6. Italy
Italy remains a masterclass in history, food, and scenery, but the everyday traveler budget has been under pressure too. The Italy Restaurants & Hotels series on FRED moves from 102.30 (Jan 2019) to 129.40 (Dec 2025), about a 26% rise. In practice, the steepest “tourist feel” often shows up in the most famous historic cores, especially where day-trippers concentrate and inventory turns over quickly.
One of the easiest money savers is a location swap rather than a quality downgrade. Base yourself in a smaller city with strong rail links, then day-trip to the icons while paying less for rooms. For meals, aperitivo culture and set lunches can deliver a full experience without nightly fine-dining totals.