Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the first quarter of 2014 increased by 7.35% year-on-year to 144.02, attributable to soaring hotel room rate during the Lunar New Year, higher charges for restaurant services and dearer prices of local food products. Notable increase was observed in the price index of Accommodation (+20.80%); morever, price index of Food, Alcoholic Drinks & Tobacco and Entertainment & Cultural Activities increased by 5.63% and 5.40% respectively. Meanwhile, lower airfare and reduced prices of gold jewellery drove down the price index of Transport & Communications and Miscellaneous Goods by 2.95% and 2.38% year-on-year.

TPI for the first quarter of 2014 increased by 1.24% quarter-to-quarter. Price index of Accommodation (+5.59%); Entertainment & Cultural Activities (+2.98%); and Food, Alcoholic Drinks & Tobacco (+2.59%) saw notable increase, due to higher hotel room rate, rising charges for entertainment, and dearer prices of leisure goods and local food products. On the contrary, price index of Clothing & Footwear decreased by 8.74% quarter-to-quarter on account of seasonal sale of adult’s clothing and handbags.

The average TPI for the last four quarters ended the first quarter of 2014 increased by 6.68% from the previous period, with marked increase being observed in the price index of Accommodation (+13.78%) and Food, Alcoholic Drinks & Tobacco (+8.11%). However, price index of Miscellaneous Goods decreased by 3.61%.

The 2009/2010-based 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.