With the socio‐economic crisis that is affecting Europe particularly negatively, immigrants have been often reported as additional threats in the job market for established residents. Theories of prejudice, such as the Theory of Self‐interest or that of the Perceived Group Threats, have suggested economic factors to explain these kinds of attitudes towards immigrants. More recently, some scholars have advanced theories of intercultural values to account for individuals’ dispositions towards those perceived as newcomers. The aim of this work is to understand whether or not intercultural values are able to modify the effects that economic factors exert on prejudice in times of crisis. The main objective is to identify whether the kinds of values instilled within societies play a stronger role than other variables, particularly economic factors. The findings show that Interculturalism plays a much greater role than economic factors in influencing attitudes towards outsiders.