Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the first quarter of 2021 went down by 15.16% year-on-year to 115.78, on account of lower hotel room rates, reduced prices of local food products and falling airfares; yet, dearer prices of jewellery offset part of the decrease. Among the various sections of goods and services, price index of Accommodation tumbled by 55.09% year-on-year. Price indices of Transport & Communications (-11.23%) and Food, Alcoholic Beverages & Tobacco (-5.48%) decreased, while price index of Miscellaneous Goods (+2.33%) recorded growth.
In comparison with the fourth quarter of 2020, TPI for the first quarter of 2021 dropped by 2.05%. Price indices of Accommodation and Clothing & Footwear declined by 14.89% and 5.72% respectively owing to lower hotel room rates and seasonal sale of winter clothing. On the other hand, price indices of Entertainment & Cultural Activities (+5.44%) and Restaurant Services (+3.62%) increased.
The average TPI for the last four quarters ended the first quarter of 2021 went down by 11.83% from the previous period, of which price index of Accommodation fell significantly by 42.55%. Meanwhile, the index of Clothing & Footwear decreased by 11.16%, whereas that of Miscellaneous Goods rose by 3.81%.
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)
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