To make this long story short, it really depends on what you are looking for. If you want to party, Greek Islands are much cheaper, Ibiza is what I would call more sophisticated. If you are looking to stay in a smaller, not party, town I would choose Greece, pricewise.

In 2026, Greece is generally cheaper than Ibiza, though both have seen price increases due to high demand. Ibiza is one of the most expensive destinations in the Mediterranean, largely due to its "exclusive" nightlife scene, high-end beach clubs, and limited geography. A dinner at a trendy Ibiza spot or a single entry to a world-famous club can cost more than an entire day's budget in many parts of Greece. Conversely, Greece offers a much wider range of price points. While islands like Santorini or Mykonos can rival Ibiza in price, islands like Naxos, Crete, or Rhodes—and certainly the mainland—offer significantly better value for accommodation, local "taverna" dining, and transport. In 2026, a budget traveler can easily find "gyros" and local beer in Greece for under €15, whereas a basic lunch in Ibiza Town rarely falls below €25–€30. For a "value" holiday, Greece remains the clear winner.