Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the third quarter of 2017 increased by 2.17% year-on-year to 129.61, attributable to dearer prices of local food products, rising taxi fares, and increasing charges for hotel accommodation and restaurant services. Among the various sections of goods and services, notable rise was observed in the price indices of Accommodation (+6.75%), Restaurant Services (+5.52%) and Entertainment & Cultural Activities (+5.13%). On the other hand, price indices of Clothing & Footwear and Miscellaneous Goods decreased by 3.75% and 2.82% respectively year-on-year, on account of reduced prices of men's outerclothing, handbags and jewellery.
In comparison with the previous quarter, TPI for the third quarter of 2017 increased by 2.59%. Price indices of Accommodation and Transport & Communications rose by 10.68% and 6.55% respectively owing to higher hotel room rates and airfares during the summer holidays. Meanwhile, seasonal sale of summer clothing & footwear drove down the price index of Clothing & Footwear by 0.26% quarter-to-quarter.
The average TPI for the last four quarters ended the third quarter of 2017 fell by 1.86% from the previous period, with significant decreases in the price indices of Transport & Communications (-12.02%), Clothing & Footwear (-6.13%) and Accommodation (-5.90%). For the first three quarters of 2017, TPI went down by 0.91% year-on-year, with notable decline in the price indices of Transport & Communications and Clothing & Footwear, down by 10.51% and 7.97% respectively. By contrast, price index of Restaurant Services increased by 5.46%.
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.
