Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the fourth quarter of 2020 decreased by 15.26% year-on-year to 118.21, on account of lower hotel room rates and falling prices of clothing; yet, dearer prices of jewellery offset part of the decrease. Among the various sections of goods and services, price index of Accommodation (-49.89%) showed a relatively large year-on-year decline. Price indices of Clothing & Footwear (-12.49%) and Entertainment & Cultural Activities (-7.56%) dropped, while the index of Miscellaneous Goods (+3.93%) increased.
In comparison with the previous quarter, TPI for the fourth quarter of 2020 rose by 2.68%. New arrival of winter clothing and rebounding prices of local food products pushed up the price indices of Clothing & Footwear and Food, Alcoholic Beverages & Tobacco by 5.34% and 5.22% quarter-to-quarter respectively. Price indices of Restaurants and Accommodation saw respective increases of 4.96% and 3.85%, whereas the index of Transport & Communications fell by 8.33%.
The average TPI for the whole year of 2020 went down by 8.20% year-on-year to 122.88. The decrease was mainly attributable to a marked year-on-year drop in hotel room rates amid the pandemic, lower charges for restaurant services, as well as reduced prices of clothing and local food products; however, higher prices of jewellery and rising airfares partially offset the decrease. Analysed by section of goods and services, price indices of Accommodation (-28.49%) and Clothing & Footwear (-13.75%) declined notably year-on-year, whereas the indices of Miscellaneous Goods (+4.49%) and Transport & Communications (+3.89%) registered 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.
