Sorry but there is a lot of unnecessary scare-mongering going on here.
The low pound against the euro has been the problem this year, as is the case with every country in the euro zone, not just Tenerife.
Another reason is the high cost of flights to Tenerife this summer - the tourist industry there on the whole relies on visitors who HAVE to fly to get there.
Of course, as in everywhere there are upmarket bars and classy clubs charging the earth for drinks - and people willing to pay those prices but the vast majority of normal bars have realised what is happening and are doing their best to offer good value.
I guarantee you will find pleasant bars with good prices everywhere in Las Americas and Los Cristianos.
Obviously if anyone is drinking in hotel bars then that is up to them, but dont expect cheap prices there.
Also some people still dont realize the Canaries are as popular in winter as summer because of the super climate so just because its quiet at the moment it doesnt mean it will be even quieter in winter cos it wont.
Smurf 1873, if you havent visited Tenerife for 22 years then you are in for a lovely surprise. It cant really be compared to Egypt except in price, its a different culture, different atmosphere, you feel safe walking anywhere at night. You will love it.