How much cash should I bring to Portugal?
Travelers need $400-$600 USD (€370-€560) for 7 days in Portugal which covers the cost of food, transportation, and attractions. This is a loose rule and will depend on what you want to do in the country and how many cities you wish to visit.
Country | Daily Budget |
---|---|
🇵🇹 Portugal | $116 |
🇮🇹 Italy | $131 |
🇪🇸 Spain | $155 |
🇮🇸 Iceland | $306 |
You'll need to budget for around £45 per person per day, or £315 per week to include all meals and excursions in Portugal. It may be worth considering an All Inclusive holiday to Portgual – try the Yellow Alvor Hotel from £407pp* all inclusive for seven nights.
Cards are by far the most popular cashless payment method in Portugal, including international cards from Visa and Mastercard. Both credit and debit cards are used, but debit cards are much more common. It's worth noting that Multibanco cards – which we'll explain below – can be used as both debit and credit cards.
The currency of Portugal is the Euro. US dollars are not accepted.
If you do want to wait until you arrive in Europe to get your euros, a word of caution. It's not usually a good idea to exchange currency at the airport, or even at your hotel. These places are definitely convenient, but you're likely to pay a premium for it. Commission fees can be high and exchange rates unfavorable.
For example, some places won't take cards if you're spending less than 10 to 20 euros — other merchants won't take cards at all. If you pick the right card, you should have euros in your pocket. If you've brought dollars with you to Portugal, you won't have trouble getting your cash changed to Euros on the street.
Portugal is known for its delicious cuisine, and you can enjoy a meal at a budget restaurant for around $10 to $15 per person. If you prefer mid-range restaurants, expect to spend around $20 to $40 per person.
While there's no obligation to tip in Portugal, it's also important to remember that when you do leave a tip, it's essential to use cash euros (the European currency), so the recipient of your tip can easily use the money without having to make a special trip to a bank (and then pay a transfer fee).
Restaurants | Edit |
---|---|
Meal, Inexpensive Restaurant | 10.00€ |
Meal for 2 People, Mid-range Restaurant, Three-course | 40.00€ |
McMeal at McDonalds (or Equivalent Combo Meal) | 7.00€ |
Domestic Beer (1 pint draught) | 2.00€ |
How much cash do you need in Lisbon?
Generally, a mid-range tourist should expect to spend €120 per day while in Lisbon. This amount does not include accommodation (around €70 - €150 per room per night), flights, or highly expensive, gimmicky tours.
Taking cash with you
While Portugal has all the facilities to accept card payments you'd expect from a modern economy, there are going to be many instances when you need cash on your trip. Some places won't take cards if you're spending less than €10 – €20 Euros, while other merchants won't take cards at all.
The best bet is to use an ATM/Cashpoint to obtain Euros from your home bank account, or use a non-fee credit card where possible. To read more about fees associated with exchanging currency, using credit cards, etc. take a look at this extensive information posted on the Flyerguide wiki.
You are allowed to travel with any amount of money. However, if you are entering or leaving the European Union carrying an amount over 10,000 euros, or its equivalent in a different currency, you are under a legal obligation to declare it at Customs.
In fact, the average cost of living in Portugal is around €1,608 (€1,500) per month, depending on what part of Portugal you're living in. Overall, Portugal is considered one of the cheapest countries in Western Europe and is, on average, 50 percent cheaper than living in the United States.
In Portugal, currency can be exchanged at banks and exchange offices registered with Banco de Portugal. The currency exchange service is free, meaning the institutions are not required to exchange foreign currency.
It is cheaper to exchange money at the bank (or by using an ATM) than the airport. That's because currency exchange stores and kiosks at the airports mark up the exchange rate to make a profit.
Portugal's safety ranking
It is even considered one of the safest countries to visit. The 2023 Global Peace Index ranked Portugal seventh, trailing only Iceland, New Zealand, Ireland, Denmark, Austria, and Singapore. This shows Portugal is also one of the safest Western European countries.
How Much Spending Money for One Week in Europe? This is so entirely dependent on your own travel preferences that it's tough to estimate but we recommend putting aside roughly €700 to €1700 for spending money for one week in Europe.
Carry $100 to $300
“We would recommend between $100 to $300 of cash in your wallet, but also having a reserve of $1,000 or so in a safe at home,” Anderson says. Depending on your spending habits, a couple hundred dollars may be more than enough for your daily expenses or not enough.
How far does the dollar go in Portugal?
1 USD = 0.89 euro (2019)
Portugal consistently ranks among the most affordable places in Western Europe. The Iberian charmer may not be as cheap as points east, but it's a penny pincher's dream compared to, say, London or anywhere in Scandinavia.
Deciding where to go and what to pack is stressful enough, let alone trying to determine how much money you need to bring. The general consensus is that you should have $50 to $100 in cash per day for each traveler. However, this amount could vary considerably depending on where you are vacationing.
The Dining Experience In Portugal
In Portugal, restaurants open for lunch starting at 12:00 p.m. or 12:30 p.m. but don't usually fill up until around 1:00 p.m. Dinner is most commonly taken at 9:00 p.m. or 9:30 p.m., but restaurants do open as early as 7:00 p.m.
The most popular Portuguese food is bacalhau or dried, salted cod, with more than 365 different ways to prepare it.
Portuguese are not early risers, so breakfast is typically the quickest meal of the day, whether at home or at a café. Brunch as a concept is picking up steam in Lisbon, but mostly unheard of unless in an area with lots of tourists and/or expats. Almoço (lunch) is the main meal of the day, and this is much more social.
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