The
Development Planning Unit
Government of the British Virgin Islands

TOURISM PRICE INDEX SECOND QUARTER 2002

Introduction

The Tourism Price Index (TPI) for the second quarter of 2002 fell by 12 percentage points to reach a 145.9 index level. March 2002, the previous quarter stood at a 166.61 index level, whereas June 2001 a year earlier the index stood at a 133.51 index level.

Subgroup Comparison

As businesses again trimmed their rates in an effort to raise demand, the TPI reflected the decline in four of its major subgroups. The reduction in package travel to the British Virgin Islands resulted in a 25.31 percent decline in Package Travel and Hotel and Charter Boat accommodation reduced the Accommodation subgroup by 14.55 percent. A fall in consumer goods (food) brought a 0.06 percent decline to the Food and Beverage subgroup. The Transportation subgroup, decline by 1.03 percent due to the lower prices of rental cars. The Recreation & Sporting Activities subgroup was the only subgroup to indicted an increase rising by 0.84 percent. Th other subgroups namely Clothing & Jewelry and Miscellaneous remained unchanged for the period.

An Annual Comparative Overview

On an annual comparison all the subgroups indicted an  increase except for Package Travel which remained unchanged. Accommodation went up by 11.21 percent, Food , Beverage & Tobacco by 3.19 percent, Clothing & Jewelry by 8.49 percent, Transportation by 1.76 percent. Recreation & Sporting Activities by 58.83 percent and Miscellaneous Tourism Expense increased by 6.00 percent. 

Rate of inflation

the point-to-point quarterly and annual rate of inflation stood at -12.44 and 9.27 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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