The
Development Planning Unit
Government of the British Virgin Islands

TOURISM PRICE INDEX FIRST QUARTER 2001

Introduction

The Tourism Price Index (TPI) for the first quarter of 2001 stood at 150.41 index level, up 27 percentage points over the 123.19 index level as recorded in December 2000. A year earlier, ( March 2000) the index stood at 139.34.

Subgroup Comparison

The quarterly comparison of the TPI showed an increase in all the subgroups except for the Package Travel, which declined by 2.99 percent. The main contributors for this increase in the indices were the seasonal change in the rates of Accommodations, which rose by a significant 38.78 percent. Food & Beverage increased by 2.0 percent due to the increase in the over all Consumer Price of food, household supplies and miscellaneous goods.
Transportation increased by 0.9 percent due to the increase in the price of gasoline. The other subgroups namely Clothing & Jewelry, Recreation & Sporting Activities and Miscellaneous Tourism Expense remained unchanged for the period in review.

An Annual Comparative Overview

On an annual comparison, all the subgroups showed increases with the exception of Transportation, which declined by 1.79 percent, and Miscellaneous Tourism Expense, which declined by 0.35 percent. Accommodation went up by 12.71 percent, Food & Beverage by 1.06 percent and Clothing & Jewelry by 0.63 percent. Package Travel and Recreation and Sporting Activities remained unchanged.

The rate of inflation stands at a quarterly rate of 22.10 and an annual rate of 8.02.

TOURISM PRICE INDEX QUARTERLY COMPARISON
(March 1999=100)

TABLE 2
QUARTERLY AND ANNUAL CHANGES IN THE AVERAGE RETAIL PRICES
FOR A SELECTED BASKET OF GOODS AND SERVICES
(US DOLLARS)

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