Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the second quarter of 2020 dropped by 4.97% year-on-year to 121.70. The decrease was mainly attributable to lower hotel room rates and falling prices of clothing; yet, dearer prices of jewellery and higher airfares offset part of the decrease. Among the various sections of goods and services, price indices of Accommodation (-19.37%) and Clothing & Footwear (-18.17%) recorded a relatively large year-on-year decline, whereas the indices of Transport & Communications (+11.14%) and Miscellaneous Goods (+5.61%) increased.
In comparison with the previous quarter, TPI for the second quarter of 2020 dropped by 10.83%. Price index of Accommodation fell by 41.49% on account of a substantial decrease in hotel room rates amid the epidemic. On the other hand, price indices of Miscellaneous Goods and Transport & Communications rose by 1.99% and 1.91% respectively.
The average TPI for the last four quarters ended the second quarter of 2020 dropped by 1.67% from the previous period. Price indices of Clothing & Footwear (-10.76%) and Accommodation (-7.18%) decreased, whereas the indices of Miscellaneous Goods (+3.92%), Transport & Communications (+3.62%) and Food, Alcoholic Beverages & Tobacco (+2.86%) increased. For the first half of 2020, TPI went down by 2.94% year-on-year, with the price indices of Clothing & Footwear and Accommodation reducing by 15.92% and 11.31% respectively. By contrast, price indices of Transport & Communications (+7.73%) and Miscellaneous Goods (+5.33%) showed growth.
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.
(Statistics and Census Service)
Government Information Bureau: