The Balearic Islands' menu is now the most expensive in the entire country

PalmThe Balearic Islands have set a new record for prices. The islands, which have seen year-on-year increases in the cost of basic necessities like housing (both rental and purchase) and groceries over the past decade, have also become the most expensive places in Spain to have a set lunch menu (a common option for workers and residents).

Although the average price of the set menu in the Balearic Islands hasn't changed compared to last year, the average is €16, the most expensive in the entire country, according to data from a report prepared by Hostelería de España in collaboration with Edenred. The report indicates that prices in bars and restaurants across Spain have risen by an average of 1.5%, reaching €2. Specifically, the Secretary General of Hostelería de España, Emilio Gallego, pointed out that this year there has been a "stagnation" in the price of the set menu and indicated that food and beverage prices, as well as labor costs, are much higher than the increase in the price of this menu. The report reveals that 40% of restaurants have raised prices between 2% and 3%, while 30% admit they haven't raised them, compared to 20% who have raised them by 1% and 10% who claim to have raised them by more than 4%. By region, the cheapest set menu is in the Canary Islands, with an average price of €13, followed by Asturias (€13.20) and Andalusia and Murcia (€13.40).

While the Balearic Islands, with an average price of €16, are the most expensive regions for a set lunch menu, followed by the Basque Country (€15.80) and Catalonia (€15.40), Madrid comes in at €14.50. However, the report shows that the Balearic Islands (€16), Extremadura (€13.70), and the Basque Country (€15.80) have not increased the price of their set lunch menus compared to the previous year. The Secretary General of the Spanish Hospitality Association has warned that establishments "focused on the set lunch menu need to take a hard look at themselves." "They are at a point where they must implement management strategies to move forward with confidence," he explained. Gallego highlighted that the types of establishments offering set menus are "very diverse" nationwide, since while they were previously geared towards residents, they have now also become established in tourist areas and have become an "interesting opportunity" for tourists. However, restaurant owners acknowledge their "concern" about the future of set menus in the coming years due to rising food prices.