Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the third quarter of 2020 dropped by 11.40% year-on-year to 115.13. The decrease was mainly attributable to lower hotel room rates, falling charges for restaurant services, as well as reduced prices of clothing, footwear and local food products; yet, dearer prices of jewellery and rising airfares offset part of the decrease. Among the various sections of goods and services, price indices of Accommodation (-38.38%) and Clothing & Footwear (-10.41%) showed notable year-on-year decline, whereas the indices of Transport & Communications (+4.76%) and Miscellaneous Goods (+3.41%) increased.
In comparison with the previous quarter, TPI for the third quarter of 2020 went down by 5.40%. Price indices of Accommodation and Food, Alcoholic Beverages & Tobacco dropped by 13.16% and 9.64% respectively, on account of receding hotel room rates and lower prices of local food products. Besides, price indices of Restaurant Services and Entertainment & Cultural Activities decreased by 4.25% and 3.65% respectively.
The average TPI for the last four quarters ended the third quarter of 2020 dropped by 4.28% from the previous period. Price indices drof Accommodation (-14.75%) and Clothing & Footwear (-11.97%) fell markedly, while the index of Transport & Communications (+4.59%) registered growth. For the first three quarters of 2020, TPI went down by 5.71% year-on-year, with price indices of Accommodation (-19.85%) and Clothing & Footwear (-14.18%) recording a substantial fall; meanwhile, price index of Transport & Communications (+6.74%) increased.
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.
