Why Budapest got pricier (and what it actually means for your trip)

The myth of the cheap Budapest city break

For years, Budapest sold itself — or rather, travel blogs sold it — as Europe’s ultimate budget destination. A pint for a pound. A thermal bath for the price of a coffee back home. A steak dinner for less than your airport sandwich. That era is over, and pretending otherwise does travellers a disservice.

This is not a doom-and-gloom piece. Budapest remains genuinely good value compared to Amsterdam, London, or Paris. But if you’re planning a 2024 trip based on 2019 forum posts, you will overspend. Understanding why prices have risen — and by how much — is the first step to planning honestly.

What actually drove prices up

The forint’s rollercoaster

Hungary operates in Hungarian forint (HUF), not the euro. That distinction matters enormously. The forint weakened dramatically after 2022, hitting historic lows against the euro at one point, but then inflation inside Hungary pushed local prices up sharply. The net result: foreign visitors initially got more forints for their euros, but Hungarian businesses responded by raising prices in forint to cover their own costs.

By 2024, the working exchange rate sits around 400 HUF to the euro and roughly 360 HUF to the US dollar. Those numbers sound decent until you check what 3,500 HUF buys you now versus three years ago.

Energy costs and hospitality pricing

Hungary imports a significant share of its energy, and the 2022 energy shock hit the hospitality sector hard. Thermal bath entry prices rose noticeably — the Széchenyi bath day ticket, for example, is now priced in a range that would have seemed steep by 2019 standards. Restaurants, particularly in tourist-heavy areas, passed on cost increases without much hesitation.

The post-pandemic catch-up

Many Budapest hotels and tour operators took heavy losses during 2020–2021. The reopening years saw aggressive price recovery. Properties that previously competed on being “the cheap option” repositioned themselves, refurbished, and raised rates. Budget accommodation still exists but requires more research to find.

Wages finally catching up (partially)

Hungary raised its minimum wage significantly in 2022–2023. This is a good thing for Hungarians, but it feeds into service sector costs. The bar staff, spa attendants, and restaurant servers who make Budapest enjoyable are earning more. Their labour costs appear in your bill.

Real numbers: where costs have shifted most

Thermal baths: A day ticket at the big tourist baths now typically costs 9,000–18,000 HUF (roughly €22–45) depending on the bath, time of day, and whether you book direct or through a reseller. Buying through the official counters or reputable booking platforms remains the sanest approach — see our Budapest baths prices and tickets guide for current rates.

Accommodation: Budget hostels in the Jewish quarter that charged €15–20 a night in 2019 now often ask €25–35. Mid-range hotels have climbed from €60–80 to €90–130 per night. The luxury tier now comfortably hits €200–400 at top properties.

Food and drink: A sit-down lunch at a non-tourist restaurant still costs 2,500–4,500 HUF (€6–11). A coffee is around 700–900 HUF. A craft beer at a ruin bar runs 1,200–1,800 HUF. Dinner at a mid-range restaurant with wine will land two people at 20,000–35,000 HUF (€50–87). The real trap remains the Váci utca area and any tourist-facing restaurant on the Buda waterfront, where prices can be double what a five-minute walk inland would cost. Our honest Budapest guide covers this in detail.

Transport: The BKK public transport system remains extraordinary value — a single ticket is around 450 HUF (just over €1), a 72-hour travelcard around 5,500 HUF (roughly €14). The Budapest Card at around €60+ for 72 hours includes unlimited transport plus museum entries, and whether it’s worth it depends on your itinerary.

Danube cruises: Evening sightseeing options still start around 6,000–8,000 HUF for basic boats. Dinner cruises with live music typically run 20,000–35,000 HUF per person. Check our Danube cruise comparison for what you actually get at each price point.

Where Budapest still delivers value

The price increases have not been uniform. Several things remain genuinely affordable:

The street food scene is still reasonably priced. A proper lángos (deep-fried dough with sour cream and cheese) costs 1,000–1,800 HUF at the Great Market Hall. Kürtőskalács (chimney cake) runs 800–1,200 HUF. A market lunch at the Central Market Hall can feed two people well for under 5,000 HUF.

Wine and pálinka are still good value by Western European standards. A decent bottle of Tokaj white will set you back 3,000–6,000 HUF in a wine shop. Hungarian wine bars charge 1,500–2,500 HUF for a good glass — less than comparable spots in Vienna or Prague.

Day trips remain cost-effective relative to other European capital regions. Bus or train fares to Szentendre or Esztergom are minimal, and you can explore these towns on foot once there.

Public thermal baths — notably Lukács and Dandár — are priced for locals and cost significantly less than the tourist-marketed Széchenyi or Gellért. They’re also less crowded.

The honest budget breakdown for 2024

Backpacker/budget: €35–55 per day. Hostel dorm, transit, market lunches, one mid-range dinner, a public bath.

Couple, mid-range: €120–180 for two per day. Two-star hotel or good Airbnb, transit plus occasional Bolt ride, mix of restaurants (avoiding tourist traps), one activity.

Comfortable: €200–300 for two per day. Three-star-plus hotel, most activities pre-booked, dinner at recommended restaurants, thermal bath or cruise.

Luxury: €400+ for two. Four/five-star hotels, private transfers, fine dining, private tours.

Booking strategy: how to stay ahead of prices

Pre-book thermal baths: Walk-up queues are real and walk-up prices are sometimes higher. Booking a day ticket in advance via an official channel saves both money and time. For the Széchenyi — the city’s most popular spa — a full-day pass bought in advance avoids the queue and locks in the price.

Avoid Euronet and airport exchange: The worst exchange rates in Budapest come from airport booths and Euronet ATMs. Use a major bank ATM (OTP, K&H, Erste) and withdraw in HUF. Never accept dynamic currency conversion.

Book dinner by reservation: Popular mid-range restaurants now take reservations. Walking in to somewhere good at 8pm on a Saturday often ends in disappointment or being pushed to a tourist-menu place. Book in advance or eat early.

Consider shoulder season: April–May and September–October remain meaningfully cheaper than July and August, with better weather for sightseeing. Winter (November–March) is cheapest of all and has its own appeal — particularly the Christmas markets from mid-November to January 1st and the outdoor thermal bath experience on a cold day. Our best time to visit guide has a month-by-month breakdown.

What the price rises mean for your planning

The practical takeaway is simple: plan with more precision than you might have in 2019. Budapest rewards people who research — who know which bath to visit, which neighbourhoods have restaurants worth eating at, which tours offer real value versus overpriced bus rides. The city hasn’t changed its character; it’s just stopped being automatically cheap.

Read our Budapest trip cost guide for a full current breakdown. And if you’re working to a strict budget, Budapest on a budget has the practical hacks that still work in 2024.

The honest assessment: Budapest remains one of Europe’s most rewarding city-break destinations. The grand architecture, the thermal culture, the nightlife, the food scene — none of that has changed. You’ll just need to budget for it properly, the same way you’d budget for Lisbon or Madrid. Which, frankly, is fair.

For trip planning, start with our how many days in Budapest guide to structure your visit, then cross-reference the first-time in Budapest page before booking anything.