This summer in the Mediterranean, hotel rates have soared to match the high temperatures, and they continue to remain steep. In Italy, for instance, a five-star hotel room that cost an average of $516.62 per night in May 2019 has seen its price jump to an average of $923.22 this year—an increase of nearly 80%. This price surge isn’t isolated to Italy’s glamorous locales; France has experienced a similar rate hike of 67% over the same period.

Traveling to these sought-after destinations has also become more expensive. The Consumer Price Index for airline tickets has surged by 25% over the past year, marking the most significant increase since the Federal Reserve began tracking this data in 1989. For many travelers, this spike in airfare and hotel costs can make a luxurious Mediterranean getaway seem reserved only for the wealthiest.

However, there are ways to navigate these high costs and still enjoy an opulent Mediterranean experience. One savvy approach is to consider cruising as a cost-effective alternative. Cruise lines often offer attractive deals on their upscale ships. For example, Veranda cabins on Azamara’s small ships are available starting at $250 per person per day for August sailings in the Mediterranean. This rate is actually lower than what was available for similar voyages five years ago, pre-pandemic. Azamara’s cruises visit less accessible ports like the holy island of Patmos and Mykonos, which are challenging for larger vessels due to strong winds.

Another option is Atlas Ocean Voyages, known for its expertise in Antarctica, but which has repositioned two of its boutique-sized ships—World Voyager and World Traveller—to the Mediterranean this summer. These ships, which accommodate up to 198 guests, offer an all-inclusive nine-day trip starting in Malta and covering destinations such as Capri and Nice for approximately $3,449 per person, equating to around $383 per night. This all-inclusive rate covers most amenities except for ultra-premium drinks and spa services.

For a truly high-end experience, Explora Journeys, a new luxury offshoot from MSC, offers competitive rates for its summer sailings. With a seven-night voyage priced around $4,000 per person all-inclusive, or approximately $600 per night, it provides a more affordable alternative compared to five-star hotels in Cannes or Capri, which can charge upwards of $2,000 for a single night. Explora Journeys also eliminates the need for additional airfare between destinations, making it a financially savvy choice.

Cruise lines also frequently offer discounted air packages as add-ons for bookings, leveraging their volume of seats to secure better deals. Royal Caribbean’s Air2Sea program, for instance, promises to match any lower verified fare with 110% of the difference in shipboard credit, providing additional savings.

For those who prefer staying on land, Turkey’s Mediterranean coast presents an excellent and budget-friendly alternative. Due to its newer high-end infrastructure and a favorable exchange rate, Turkey offers significant savings compared to neighboring destinations. In May, average international hotel rates in Turkey were around $394.79, almost 60% less than those in Italy. Luxury travel specialist Jonathan Alder highlights Turkey as a compelling substitute for Greece, citing its rich history, mythology, and excellent wine regions. The Çesme peninsula, akin to the Hamptons, and Bodrum, known for its vibrant nightlife, are particularly recommended.

Turkey’s ease of access from many cities across the globe, facilitated by its extensive direct flight network, further enhances its appeal. The country is significantly more accessible than destinations like the Amalfi Coast or Nice.

Additionally, Morocco’s Mediterranean coast offers appealing alternatives. Tangier, kept cool by sea breezes, boasts charming beaches and affordable luxury at places like the Fairmont Tazi Palace, with double rooms available for around $460 at the end of August. Casablanca, on the Atlantic coast, is ideal for surfers and features the new Royal Mansour hotel, situated in a high-rise and offering a chic stay in the city center.

For those considering a more unconventional option, Madeira, a Portuguese island located east of Casablanca, offers a cost-effective alternative with warm waters and diverse landscapes. While not in the Mediterranean, Madeira provides a unique blend of luxury and affordability. Its volcanic terrain creates a microclimate with both dry, sun-drenched areas ideal for pool lounging and lush, rainy regions perfect for hiking. Reid’s Palace, a Belmond-operated hotel, offers rooms at around $900 per night—substantially less than similar properties in the Mediterranean.

Lastly, if flight costs are a primary concern, exploring fifth freedom flights can be a smart move. These routes, operated by airlines between two cities not in their home territory, often provide cheaper options than traditional flights. Current fifth freedom routes include Emirates flights between JFK and Milan and Air Tahiti Nui flights from Seattle and Los Angeles to Paris. Once in Europe, budget airlines like EasyJet and Ryanair can help keep travel costs low.

While soaring travel prices may pose a challenge, these strategies can help you enjoy a luxurious Mediterranean experience without breaking the bank.