Source: Statistics and Census Service
Friday 14th April, 2018
Tourist Price Index for the 1st Quarter 2018
Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the first quarter of 2018 increased by 6.15% year-on-year to 136.94, on account of higher charges for hotel accommodation and restaurant services, as well as dearer prices of local food products. Among the various sections of goods and services, price index of Accommodation (+19.33%) registered the highest increase, followed by indices of Transport & Communications (+6.57%) and Food, Alcoholic Beverages & Tobacco (+4.53%).
In comparison with the fourth quarter of 2017, TPI for the first quarter of 2018 decreased by 3.91%. Price indices of Accommodation and Clothing & Footwear dropped by 11.27% and 7.97% respectively due to lower hotel room rates and seasonal sale of adults’ winter clothing. On the other hand, price index of Food, Alcoholic Beverages & Tobacco rose by 1.97% attributable to higher prices of local food products.
The average TPI for the last four quarters ended the first quarter of 2018 increased by 3.76% from the previous period, with price indices of Accommodation (+14.70%) and Restaurant Services (+4.40%) recording notable growth. Meanwhile, price index of Clothing & Footwear (-4.56%) decreased.
TPI reflects the price change of goods and services purchased by visitors. Sections of TPI goods and services are selected according to the consumption pattern of visitors, namely Food, Alcoholic Beverages & Tobacco; Clothing & Footwear; Accommodation; Restaurant Services; Transport & Communications; Medicine & Personal Goods; Entertainment & Cultural Activities; and Miscellaneous Goods.