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FOOD AND DRINK

Menú del día map: Where has Spain’s staple meal become most expensive?

With inflation putting up the price of everything from olive oil to electricity bills, now a Spanish custom renowned for its value for money is also being affected: the menú del día.

menu del dia price map spain 2022
As could be expected, the most expensive 'menús del día' in Spain in 2022 can be found in the Basque Country, Catalonia and Madrid. Photo: Myznik Egor/Unsplash

Spain’s much-loved menús del día (menus of the day) are sacred to many Spaniards and can be found in pretty much every city, town and village across the country.

They are typically three-course menus served at lunchtime for a fixed price and include a drink, which may be beer or wine, as well as bread.

READ ALSO – The secrets of El Menú del Día: The surprising story behind Spain’s fixed-price lunch menu

The menús del día date back to the 1960s during the Franco regime, when they were called menús túristicos and were introduced so that tourists would be able to pay a fixed price to enjoy Spanish cuisine.

In the 1970s, they changed their name to menús del día as they became even more popular with the local population. In most cases, you can select between several dishes for each course and depending on what you order, menús del día can be great value for money.

Between 3 and 4 million people regularly enjoy the menú del día offer in Spain.

Inflation on the menu

But like a lot of the world in 2022, Spain has been gripped by a cost-of-living crisis and it now seems that the much-loved menú del día is becoming the latest victim of inflation. 

According to a survey conducted by Hostelería de España, between November 2021 and April 2022, four in ten restaurants in Spain have put up the price of their daily menu offer by 5 percent, a third have raised it by 10 percent, and 7 percent of restaurants raised the prices by 15 percent.

In cash terms, a 5 percent increase is roughly 70 cents, a 10 percent rise is around €1.40, and restaurants that have raised the price by 15 percent have put up prices by around €2. 

READ MORE: Huge debate roars over vague hint that ‘menús del día’ should drop beer and wine

According to the survey, the average price of the menú del día across Spain is now around €12.80.

The hospitality sector in Spain, though enjoying the return of post-pandemic tourism, is struggling to cope with the surge in energy prices and raw materials.

Spain’s National Institute of Statistics, the INE, reported in mid-July that the country’s 10.2 inflation rate was the highest level the country had experienced since 1985

For many restaurants and bars, simply paying the gas and electricity bills or buying basic food stuffs have become an existential cost. As a result, many have decided – or been forced – to raise their prices, and the affordable menú del día is no exception. 

The menú del día cost a little over €4 on average 20 years ago, around 700 pesetas. Nowadays, fixed menus can range from €8 to €14.

Most expensive menús del día in Spain in 2022

But where are the most expensive cities in Spain for a menú del día?

It is worth noting that the following figures are very much focused on major cities, and are not reflective of prices in smaller towns and villages. Often, it will be possible to find much more affordable menú del día offers in small-town bars and restaurants, although even there the inflationary pressures have likely passed on price increases to the customer. 

According to the figures from Hostelería de España, Barcelona is the priciest place in Spain, with an average price of €14. Not far behind in second place is Madrid, where the average price is now €13.90.

Coming in third is Palma de Mallorca, where the price has risen to €13.60 on average, and Bilbao comes in at fourth, with an average menú del día price of €13.50.

Rather surprisingly compared to the cost of living in Murcia more generally, the average price in the southern region has risen to €13, and Zaragoza is shortly behind at €12.80, with Valencia at €12.60.

As is often the case in Spain, the further south you go the cheaper things get. In Andalusia, a menú del día now costs €12.50 on average in Málaga, and €12 in Seville.

Las Palmas de Gran Canaria in the Canary Islands reportedly has the cheapest menú del día at an average price of €11.50, although it’s worth noting that this data only encompasses Spain’s ten most populous cities (More on regional menú del día data further down). 

Here is a breakdown of the average menú de día price in 2022 in Spain’s biggest cities:

  1. Barcelona €14
  2. Madrid €13.90
  3. Palma de Mallorca €13.60
  4. Bilbao €13.50
  5. Murcia €13
  6. Zaragoza €12.80
  7. Valencia €12.60
  8. Malaga €12.50
  9. Sevilla €12
  10. Las Palmas de Gran Canaria €11.50

Hostelería de España has also collected data on what the average price of the menu del día is across Spain’s regions.

We’ve compiled their data into the following map, and below that you’ll find a breakdown of how much menú del día prices have increased across Spain’s regions from 2016 to 2022.

Price increase of the ménu del día across Spain's regions from 2016 to 2022

Galicia: +16.4 percent
La Rioja: +15.7 percent
Basque Country: +12.5 percent
Extremadura: +11.3 percent
Catalonia: +10.8 percent
Madrid: +10.4 percent
Asturias: +9.8 percent
Andalusia: +9.7 percent
Cantabria: +9.6 percent
Castilla y León: +9.1 percent
Aragón: +8.8 percent
Valencia region: +8.3 percent
Navarre: +6.5 percent
Balearic Islands: +4.6 percent
Castilla-La Mancha: +4.4 percent
Canary Islands: +2.7 percent
Murcia: +1.6 percent

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BANKING

The best bank accounts for self-employed workers in Spain

Whether it be financial advisors, savings incentives, or the flexibility to do things like paying taxes and arranging payrolls, finding the right bank account can really help your self-employed working life in Spain.

The best bank accounts for self-employed workers in Spain

Being self-employed (autónomo in Spanish) can seem a little tough in Spain at times. Whether it be the endless admin, high social security charges or tax brackets, sometimes it can feel as though freelance or small business life just isn’t meant to be in Spain.

One thing that can make life a little easier is having a bank account designed especially for the self-employed.

READ ALSO: CALENDAR: The key deadlines for self-employed workers in Spain in 2024

What is a self-employed account?

A self-employed account is basically a bank account designed for self-employed people that you can open in your own name to handle all your professional money matters.

Many self-employed people find this beneficial because you can keep personal money separate from business income, and generally keep a clearer, more balanced set of accounts — something that comes in handy when making a tax return in Spain.

Another benefit is that many self-employed accounts allow you to use banking services that you would not have access to via your normal current account, such as doing payrolls, if you have staff, or access to financing and loans that regular banking customers can’t get. Many also offer cash back on paying social security fees. Also, often when opening a self-employed or business account, banks offer you a personal adviser to help you with your financial decision.

So, which are some of the best bank accounts for self-employed workers in Spain?

Sabadell Self-Employed Account – Cuenta Autónomos Sabadell

Sabadell’s Self-Employed account offers an account for the self-employed zero commission charges and zero conditions. You receive a free business debit and credit card, with no maintenance fees.

Aside from immediate transfers, all other transfers are free within the EU.

You also get a return of 3 percent of your direct debit electricity and gas bills paid via the account, something handy for self-employed people with offices.

Bankinter Professional Account – Cuenta Profesional

Bankinter’s Professional Account gives you remuneration of up to 5 percent APR in the first year and up to 2 percent APR in the second (maximum balance of €5,000).

It is a commission-free online account (via web and mobile app) with which you can separate your personal and professional expenses, and you will have a personal manager at your disposal to help you resolve all your doubts and needs.

You also receive a free credit card, free national and intra-EU transfers, can make free cash withdrawals over 17,000 cash points, advance deposits, and get multi-channel access to your account.

However, there are some conditions. You must deposit a minimum of €800 per month in the account (cash deposits not be valid), keep the card active, and make at least three charges per receipt per quarter.

READ ALSO: The social security fees Spain’s self-employed will pay in 2024 

Payhawk Enterprise – Payhawk Empresas

Payhawk accounts are a little different and go beyond the traditional definition of a business account. Unlike conventional accounts, Payhawk provides an entire banking ecosystem designed to optimise financial control and simplify the management of business budgets and expenses.

This account might appeal more to self-employed and small business owners with a significant staff or turnover, rather than to individual freelance workers.

The Payhawk Business account has automated expense management, offers Visa corporate cards (physical and virtual) that have usage limits and integrated spending policies.

The Payhawk platform also automates accounting, enables budget creation and frees you up from laborious administrative tasks, and the mobile app allows you to approve funding requests and make payments from anywhere.

READ ALSO: The financial aid available to Spain’s self-employed workers in 2024 

Revolut Pro Account

The Revolut Pro Account offers 0.8 percent cashback on card payments, create professional invoices, receive payments with QR codes, and spend and send money abroad with great exchange rates

This account may be better suited to individual self-employed workers in Spain.

Revolut Pro offers various banking plans with extra features:

Standard: Free
Plus: €2.99/month
Premium: €7.99/month
Metal: €13,99/month.

N26 Business Account

The N26 Business Account appeals to the self-employed by offering a 5 percent refund of the monthly autónomo social security charge to those who pay their self-employed fee with the N26 account (up to a maximum total of €180 per year).

The N26 Business Account is 100 percent online, free, and focused on the self-employed. It offers a free Mastercard debit card, which gives you 0.5 percent back on your purchases, allows free transfers to Spain and the Eurozone, and does international transfers through Transferwise.

You can make free withdrawals at any ATM a maximum of 5 times a month, and N26 offers a 24/7 customer service.

CaixaBank Business Account – Cuenta Negocios

Caixa’s Business Account gives you a specialised bank manager who will accompany and advise you throughout the life cycle of your business. If you don’t have a website but you want to make online sales through social networks or WhatsApp, Caixa’s SocialCommerce tool allows you to do all that and manage your online business.

If you do have a website, Caixa uses Cyberpac or Addon Payments to accept payments in your online shop in a simple and secure way. Similarly, if you want to further invest in or expand your business, you can finance your fees and receipts to expand or renovate your business and take it to the next level.

The account also has no fees or commissions. However, you’ll need to meet 3 requirements in order to pay no fees on the account:

Direct debit income of at least €750 a month or €9,000 a year.

Set up a direct debit for your self-employed social security payment.

Make any of the following payments from the Caixa Business account: your taxes, employee social security contributions, employee pay slips, utility bills or card purchases.

There is a maintenance fee of €15 per month if you don’t meet the requirements.

Santander ONE Business Account – Cuenta Santander ONE Empresas (autónomos)

For new customers, Santander’s ONE Business Account offers no account maintenance fees for the first 12 months

Neither are their issue or maintenance fees for Santander debit and credit cards, or for making transfers in Euros via online banking, mobile and ATMs, except for urgent transfers. No fee for debit cash deposits and withdrawals at more than 30,000 Santander ATMs worldwide either.

You have to meet some requirements to pay no commissions:

Deposit or invoice at least €1,800 every three months by means of POS, transfers, bills, or cheque deposit.

Make one of the following operations: payment of employee salaries, payment of the self-employed quota, or make 6 uses of the account card.

The maintenance fee if you do not meet the account requirements is €30 per month.

BBVA – Business Welcome account – Cuenta Negocios Bienvenida

BBVA’s Business Welcome account allows you to transfer your direct debits from other banks free of charge, and you’ll be given a specialist bank manager whenever you need one.

If you pay your taxes and/or social security contributions directly into the Welcome Business Account, BBVA offers you 3 percent of what you pay back – up to €100 gross per quarter, meaning you could earn back €400 per year. This offer is only for new self-employed customers.

On top of that, there are no fees on conditions during the first year with BBVA’s Business Welcome account. From the second year onwards, you have to meet the following conditions each month:

You must set up a direct debit to pay your social security or professional association fee through the Business Account, and you must also pay your taxes (IVA, IRPF, business tax or corporation tax) by direct debit.

There is a maintenance fee of €12 per month if you do not meet the account requirements after the first year.

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