The
Development Planning Unit
Government of the British Virgin Islands

TOURISM PRICE INDEX FOURTH QUARTER 2002

Introduction

The Tourism Price Index (TPI) for the fourth quarter of 2002 stood at 167.19 up 29.1 percent over the previous quarter (September 2002) which stood at 129.46. A year earlier the index stood at 159.54.

Subgroup Comparison

With the expectation of greater tourism related business in the final months of the year, the reintroduction of seasonal rates has contributed to the quarterly changes in the price index with Package Travel/Package Tours, increasing by 53.20 percent, while Accommodation rose by 39.15 percent. Food & Beverage increased by 0.93 percent due to the rise in the prices of yacht and guest house provisioning. The subgroup Clothing & Jewelry fell by 3.10 percent due to the lower prices of ladies sun dresses and T-Shirts.  Transportation on the other hand rose by 3.79 percent due to the increased seasonal rate of rental cars. The subgroup Recreation & Sporting Activities remained unchanged for the period, while Miscellaneous Expense recorded a 1.11 percent increase due to the increase in postcards.

An Annual Comparative Overview

On an annual comparison all the subgroups indicated an increase except for Package Travel  which remains unchanged. Accommodation went up by 6.45 percent, Food & Beverage by 0.54 percent, Clothing & Jewelry by 17.74 percent, Transportation by 4.34  percent, Recreation & Sporting Activities rose by 1.68 percent and Miscellaneous Tourism Expense rose by 2.43 percent. 

Rate of inflation

The point-to-point quarterly and annual rate of inflation stood at 29.14 and 4.79 percent respectively.

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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