I has always been expensive and if it is quiet then it maybe down to a number of issues. The Summer in the UK has not been to bad for the past 2 years, and Ollie makes an excellent point, there are some awesome festivals nowadays, just take a look at the line up for The Social held in Maidstones Mote Park led by Nic Fancuilli, book early and its £20.
I also feel there is alot more competition now with Croatia, Barca, Very Cheap Sunny beach and Cheap Maga's, Vegas is also very up and coming with alot more DJ's begining to concentrate on the US there are alot more places for them to play at and appreciate their skills.
Also some of the young twenties crowd are also a little fed up with the get mullered and shag attitude of the West End, they want a more cooler vibe with less hassle they also take alot more pride in the their appearance, maybe thats down to TOWIE, who knows. I also think its not socially accepted as much anymore. Alot of people are trying to move up out of the cheap hotel and more money for booze hols, this is why I think Ushuaia are spot on with their markting. I am not convinced everyone wants to get in at 0700 and miss half the day anymore either, hence the explosion of some daytime sets like Ocean Beach and Blue Marlin who are doing well.
Again alot of the UK clubs are able to book famous DJ's and groups now, and have you noticed how some of the Old School DJ's are now coming back ....Nancy Noise, Brandon Block, Alex P, Paul Oakenfield and Danny Rampling thy are holding some great nights at venues across the county and appeal to a slightly older but more affluent crowd.
I was also totally amazed on how many families were in Ibiza as well, really interesting that only 25% of people go there for the music, I know alot of locals rely on the business clubbers bring but they are also getting frustrated with the reputation of the Isle and that of San Ant. Families will always bring in mor money than us.
The Radio 1 weekend is one fo the busiest times on the Island, I really dont think the line up is great this year but it will be interesting to see just how many people attend.
Do I think Ibiza is on its way out...no I dont, people will always go, but I do think that change is on the horizon and it must adapt to that.
Of course this is just my view, happy to debate