Researchers generally accept that satisfaction is a determinant of tourist expenditure in destinations. This article explores the relationship between satisfaction and tourist expenditure in Calp, a consolidated 'sun and beach' tourist destination located on the Spanish Mediterranean coastline. Using survey data and structural equation modelling, the main result indicates that, in general, after controlling for relevant (socio-economic, socio-demographic and trip characteristics) variables, there is a weak relationship between satisfaction and expenditure.