The
Development Planning Unit
Government of the British Virgin Islands

TOURISM PRICE INDEX FIRST QUARTER 2002

Introduction

The Tourism Price Index (TPI) for the first quarter of 2002 stood at 166.61, up 7.07 percent points over the 159.54 index level recorded in December 2001. A year earlier (March 2001) the index stood at 150.41.

Subgroup Comparison

The quarterly comparison of the TPI showed an increase in all the subgroups except for two- namely  Package Travel, which declined by 2.99 percent and  Food, Beverage & Tobacco, which fell by 0.31 percent due to the lower prices of lunches and miscellaneous products for yacht and guesthouse provisioning. The main contributor to the increase in the index was the Accommodations subgroup which increased by 7.30 percent due to seasonal changes in the rates of accommodations. The Clothing & Jewelry subgroup remained unchanged for the period while the Transportation subgroup increased by 1.34 percent due to the increase in the price of gasoline and car rental. Recreation & Sporting Activities recorded a 0.83 percent increase mainly because of the higher rates for water sports activities. The Miscellaneous Tourism Expense subgroup showed a 1.31 percent increase due to the higher cost of souvenir items.

An Annual Comparative Overview

An annual comparison of the subgroups indicted increases in all the subgroups except for Package Travel which remained unchanged. Accommodation went up by 13.78 percent, Food , Beverage & Tobacco by 2.84 percent, Clothing & Jewelry by 8.91 percent, and Transportation by 5.64 percent. Recreation & Sporting Activities went up by 57.54 percent while the Miscellaneous Tourism Expense increased by 6.00 percent. 

Rate of inflation

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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