Those investing in a trip to Ibiza might want to increase the credit lines on their cards.
Already a notoriously pricey venture, traveling to Ibiza will only grow more fiscally challenging as the Mediterranean island enacts new legislation that will limit the amount of beds available to tourists on the island.
The tourist cap is engendered by residents’ complaints that the influx of tourists visiting the Balearic Island has led rental prices to skyrocket. The new law will allow a total number of 623,624 beds for tourists, a number that will drop by 120,000 in coming years.
Property owners in Ibiza will feel the impact of the legislation, unable to rent out space on platforms like Airbnb without a proper license to do so. Fines of up to 400,000 euros exist for those who rent on such websites without the license.
Ibiza’s newly instituted tourist cap arrives on the heels of its ban on live music/DJs at sixteen beach clubs in San Jose. The decrease in beds available on the island will likely result in a higher price per bed for each paying tourist, rendering an Ibiza rendezvous that much more of an indulgence, and likewise, an impossibility for some.
READ ORIGINAL POST HERE:
Ibiza institutes cap on beds available to tourists on island