TOURISM PRICE INDEX THIRD QUARTER
2002
Introduction
With the summer season drawing to a close and the Hurricane season at
it peak, the Tourism Price Index (TPI) for the third quarter of 2002 stood
at 129.46, down 11.2 percentage points since the previous quarter (June
2002)which stood at 145.88. A year earlier (September 2001) the index
stood at 114.64 which indicate a 13 percentage point's increase in the
current period index.
Subgroup Comparison
At the trough of the tourism slow season, the TPI reflected other drops
as Travel consultants and hoteliers continues to lower their in an effort
to intrigue travelers. As a result package Travel/Tours and Accommodations
declined by 9.91 and 16.56 percent respectively. Food & Beverage
decreased by a mare 0.02 percent due to the fall in prices of consumer
goods during the quarter. On the other hand, the other subgroup such as:
Clothing & Jewelry increased by 21.5 percent due to the increase in
the prices of T-shirts. The The Transportation subgroup took a 0.23
percent increase due largely to the increase in rental rates. The
remaining subgroup namely Recreation & Sporting Activities and
Miscellaneous Tourism Expense remained unchanged for the period.
An Annual Comparative Overview
On an annual comparison all the subgroups showed significant increases
with the exception of Package Travel/Package Tours, which remained unchanged. Accommodation
increased by 18.44 percent, Food & Beverage rose by 0.38 percent,
while Clothing & Jewelry rose by 31.82 percent, with Transportation
taking a 1.63 percent increase. Recreation & Sporting
Activities rose by 55.61 percent while Miscellaneous Tourism Expense rose by
2.03 percent.
Rate of inflation
The point-to-point quarterly and annual rate of inflation stood at
-11.26 and 12.93 percent respectively.
TOURISM PRICE INDEX QUARTERLY COMPARISON
(March 1999=100)
| SUBGROUP |
WEIGHT |
SEPT.
2002
INDEX |
JUNE
2001
INDEX |
QUARTERLY
COMPARISON |
SEPT.
2001
INDEX |
ANNUAL
COMPARISON |
| Package
Travel |
14.36 |
83.72 |
92.96 |
-9.91 |
83.72 |
0.00 |
| Accommodation |
56.20 |
140.99 |
168.97 |
-16.56 |
119.04 |
18.44 |
| Food &
Beverage |
18.21 |
126.59 |
126.62 |
-0.02 |
126.11 |
0.38 |
| Clothing
and Jewelry |
1.72 |
203.39 |
167.40 |
21.50 |
154.30 |
31.82 |
| Transportation |
4.03 |
110.80 |
110.55 |
0.23109 |
109.03 |
1.63 |
| Recreation
and Sporting Activities |
2.49 |
159.40 |
159.40 |
0.00 |
102.44 |
55.61 |
| Miscellaneous |
2.99 |
107.60 |
107.60 |
0.00 |
105.46 |
2.03 |
| All
Groups |
100.0 |
129.46 |
145.88 |
-11.26 |
114.64 |
12.93 |
TABLE 2
QUARTERLY AND ANNUAL CHANGES IN THE AVERAGE RETAIL PRICES
FOR A SELECTED BASKET OF GOODS AND SERVICES
(US DOLLARS)
| |
Quarterly Comparison |
Annual Comparison |
| Items |
Sept.
2002 |
June
2002 |
Price
Change |
%
Change |
Sept.
2001 |
Price
Change |
% Change |
|
Package Travel/Package Tour |
| 1 |
Sail-Away the BVI |
1,090.00 |
1,210.00 |
(120.00) |
(9.92) |
1,090.00 |
- |
- |
|
ACCOMMODATION |
| 1 |
Average Room Rates |
354.38 |
427.05 |
(72.67) |
(17.02) |
311.81 |
42.57 |
13.65 |
| 2 |
Charter a Boat |
459.87 |
557.52 |
(97.65) |
(17.52) |
523.00 |
(63.13) |
(12.07) |
| FOOD,
BEVERAGES AND TOBACCO |
| 1 |
Food and Meals at hotel |
65.80 |
65.80 |
- |
- |
62.69 |
3.11 |
4.96 |
| 2 |
Food and Meals outside Hotel |
| 2a |
Breakfast |
8.75 |
8.75 |
- |
- |
8.75 |
- |
- |
| 2b |
Lunch |
12.41 |
12.41 |
- |
- |
13.54 |
1.17 |
9.46 |
| 2c |
Dinner |
29.66 |
29.66 |
- |
- |
28.40 |
3.60 |
14.52 |
| 3 |
Yacht & Guest
House Provisioning |
| |
Food and Beverage ( Price Index) |
118.70 |
199.30 |
(0.60) |
(0.50) |
117.80 |
0.90 |
0.76 |
| |
Household Supplies (Price index) |
149.00 |
149.60 |
21.40 |
16.58 |
150.50 |
8.10 |
5.38 |
| |
Miscellaneous (Price Index) |
127.20 |
127.70 |
(0.50) |
(0.39) |
127.90 |
(0.70) |
(0.55) |
| CLOTHING
& JEWELRY |
| CLOTHING |
| 1 |
T-Shirts |
16.32 |
12.67 |
3.65 |
28.81 |
11.33 |
4.99 |
44.04 |
| 2 |
Man's and boy's pants |
34.50 |
35.00 |
(0.50) |
(1.43) |
27.00 |
7.50 |
27.78 |
| 3 |
Ladies and girl's dress |
84.00 |
72.00 |
12.00 |
16.67 |
72.00 |
12.00 |
16.67 |
| JEWELRY |
| 4 |
Watches |
210.00 |
140.00 |
70.00 |
50.00 |
140.00 |
70.00 |
50.00 |
| 5 |
Rings |
220.00 |
220.00 |
- |
- |
220.00 |
- |
- |
| TRANSPORTATION |
| 1 |
Taxi Fare |
18.00 |
18.00 |
- |
- |
18.00 |
- |
- |
| 2 |
Boat Fare |
25.00 |
25.00 |
- |
- |
25.00 |
- |
- |
| 3 |
Island Tour per person |
17.50 |
17.50 |
- |
- |
17.50 |
- |
- |
| 4 |
Car Rental (Average) |
47.80 |
46.80 |
1.00 |
2.14 |
46.00 |
1.80 |
3.91 |
| 5 |
Temporary Driving License |
10.00 |
10.00 |
- |
- |
10.00 |
- |
- |
| 6 |
Gasoline |
2.30 |
2.30 |
- |
- |
2.42 |
(0.12) |
(4.96) |
| RECREATION
& SPORTING ACTIVITIES |
| 1 |
Entertainment Recreation |
17.50 |
17.50 |
- |
- |
15.00 |
2.50 |
16.67 |
| 2 |
Water Sports |
94.17 |
87.50 |
6.67 |
7.62 |
82.50 |
11.67 |
14.15 |
| 2 |
Diving |
75.00 |
75.00 |
- |
- |
82.50 |
(7.50) |
(9.09) |
| 3 |
Parasailing |
55.00 |
55.00 |
- |
- |
55.00 |
- |
- |
| MISCELLANEOUS |
| 1 |
Postcards |
0.45 |
0.45 |
- |
- |
0.45 |
- |
- |
| 2 |
Telephone Call (Average Call) |
1.17 |
1.17 |
- |
- |
1.27 |
0.07 |
5.51 |
| 3 |
Postage Stamp (Average Cost) |
0.46 |
0.46 |
- |
- |
0.46 |
- |
- |
| 4 |
Departure Tax |
10.00 |
10.00 |
- |
- |
10.00 |
- |
- |
| 5 |
Souvenirs Ornaments |
18.25 |
18.25 |
0.25 |
1.37 |
18.00 |
0.25 |
1.39 |
|
The