TOURISM PRICE INDEX FOURTH QUARTER 2003
Introduction
The Tourism Price Index (TPI) for December 2003 stood at 176.52 up 35
percentage points when compared to that of September 2003 which stood at
130.33. A year earlier (December 2002) the index stood at 167.19.
Subgroup Comparison
For the quarter under review all the subgroups with the exception of
Clothing & Jewelry dropped by 1.45 percent. On the other hand,
Recreation & Sporting Activities which fell by 2.09 percent showed
significant increases. Package Travel rose by 53.21percent, while
Accommodation rose by 49.76 percent. Food & Beverage showed marginal
increase of 0.07 percent due to the higher prices for provisioning
products for yachts and guest houses. The Transportation subgroup rose by
2.52 percent due to the increase in ferry fares. The Miscellaneous
subgroup rose to 6.77 percent due to the introduction of the passenger
service charge.
Annual Comparative
An annual comparison indicted the following movement among the
subgroups: Package Travel was reintroduced and the 2002 price remain
unchanged for the period. Accommodations rose by 7.98 percent while Food,
Beverage & Tobacco dropped by 0.62 percent. Clothing & Jewelry
rose by 9.99 percent while Transportation fell by 0.11
percent. Recreation & Sporting fell by 5.48 percent while Miscellaneous Tourism Expense
increased by 17.29 percent.
Rate of inflation
The rate of the TPI inflation stands at a quarterly rate of
35.44 and an annual rate of 5.58 percent
TOURISM PRICE INDEX QUARTERLY COMPARISON
(March 1999=100)
| SUBGROUP |
WEIGHT |
DEC.
2003
INDEX |
SEP.
2003
INDEX |
QUARTERLY
COMPARISON |
DEC.
2002
INDEX |
ANNUAL
COMPARISON |
| Package
Travel |
14.36 |
128.26 |
83..72 |
53.21 |
128.26 |
0.00 |
| Accommodation |
56.20 |
211.84 |
141.45 |
49.76 |
196.19 |
7.98 |
| Food &
Beverage |
18.21 |
126.97 |
126.89 |
0.07 |
127.77 |
-0.62 |
| Clothing
and Jewelry |
1.72 |
216.77 |
219.96 |
-1.45 |
197.09 |
9.99 |
| Transportation |
4.03 |
114.88 |
112.06 |
2.52 |
115.00 |
-0.11 |
| Recreation
and Sporting Activities |
2.49 |
150.67 |
153.89 |
-2.09 |
159.40 |
-5.48 |
| Miscellaneous |
2.99 |
127.60 |
119.51 |
6.77 |
108.79 |
17.29 |
| All
Groups |
100.0 |
176.52 |
130.33 |
35.44 |
167.19 |
5.58 |
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 |
Dec.
2003 |
Sept.
2002 |
Price
Change |
%
Change |
Dec.
2002 |
Price
Change |
% Change |
|
Package Travel/Package Tour |
| 1 |
Sail-Away the BVI |
1,670.00 |
1,090.00 |
580.00 |
53.21 |
1,670.00 |
0.00 |
0.00 |
|
ACCOMMODATION |
| 1 |
Average Room Rates |
601.92 |
344.01 |
257.91 |
74.97 |
529.85 |
72.07 |
13.60 |
| 2 |
Charter a Boat |
666.78 |
440.72 |
226.06 |
51.29 |
665.00 |
1.78 |
0.27 |
| FOOD,
BEVERAGES AND TOBACCO |
| 1 |
Food and Meals at hotel |
66.10 |
66.10 |
0.00 |
0.00 |
65.80 |
0.30 |
0.46 |
| 2 |
Food and Meals outside Hotel |
| 2a |
Breakfast |
8.75 |
8.75 |
0.00 |
- |
8.75 |
0.00 |
0.00 |
| 2b |
Lunch |
11.46 |
11.46 |
0.00 |
- |
12.41 |
-0.96 |
-7.66 |
| 2c |
Dinner |
30.25 |
30.25 |
0.00 |
- |
29.66 |
0.59 |
1.99 |
| 3 |
Yacht & Guest
House Provisioning |
| |
Food and Beverage ( Price Index) |
120.90 |
120.80 |
0.10 |
0.08 |
119.60 |
1.30 |
1.09 |
| |
Household Supplies (Price index) |
155.10 |
155.10 |
0.00 |
0.00 |
162.70 |
-7.60 |
-4.67 |
| |
Miscellaneous (Price Index) |
133.70 |
132.50 |
1.20 |
0.91 |
134.70 |
-1.00 |
-0.74 |
| CLOTHING
& JEWELRY |
| CLOTHING |
| 1 |
T-Shirts |
14.32 |
14.32 |
0.00 |
0.00 |
16.32 |
-2.00 |
-12.25 |
| 2 |
Man's and boy's pants |
23.33 |
22.83 |
0.50 |
2.19 |
29.95 |
-6.62 |
-22.10 |
| 3 |
Ladies and girl's dress |
65.00 |
65.00 |
0.00 |
0.00 |
66.33 |
-1.33 |
-2.01 |
| JEWELRY |
| 4 |
Watches |
206.67 |
196.65 |
10.02 |
5.10 |
210.00 |
-3.33 |
-1.59 |
| 5 |
Rings |
407.50 |
435.00 |
-27.50 |
-6.32 |
220.00 |
187.50 |
85.23 |
| TRANSPORTATION |
| 1 |
Taxi Fare |
18.00 |
18.00 |
- |
- |
18.00 |
- |
- |
| 2 |
Boat Fare |
22.50 |
20.00 |
2.50 |
12.50 |
25.00 |
-2.50 |
-10.00 |
| 3 |
Island Tour per person |
17.50 |
17.50 |
0.00 |
- |
17.50 |
- |
- |
| 4 |
Car Rental (Average) |
56.80 |
51.70 |
5.10 |
9.86 |
57.00 |
-0.20 |
-0.35 |
| 5 |
Temporary Driving License |
10.00 |
10.00 |
0.00 |
0.00 |
10.00 |
0.00 |
0.00 |
| 6 |
Gasoline |
2.42 |
2.35 |
0.07 |
2.98 |
2.30 |
0.12 |
5.22 |
| RECREATION
& SPORTING ACTIVITIES |
| 1 |
Entertainment Recreation |
22.00 |
22.00 |
0.00 |
0.00 |
17.50 |
4.50 |
25.71 |
| 2 |
Water Sports |
217.50 |
255.83 |
-38.33 |
-14.98 |
94.17 |
123.33 |
130.97 |
| 2 |
Diving |
76.67 |
75.00 |
1.67 |
2.23 |
75.00 |
1.67 |
2.23 |
| 3 |
Parasailing |
55.00 |
55.00 |
0.00 |
0.00 |
55.00 |
0.00 |
0.00 |
| MISCELLANEOUS |
| 1 |
Postcards |
0.52 |
0.53 |
-0.01 |
-1.89 |
0.48 |
0.04 |
8.33 |
| 2 |
Telephone Call (Average Call) |
1.17 |
1.17 |
0.00 |
0.00 |
1.17 |
0.00 |
0.00 |
| 3 |
Postage Stamp (Average Cost) |
0.46 |
0.46 |
- |
- |
0.46 |
- |
- |
| 4 |
Departure Tax & Service Charge |
20.00 |
15.00 |
5.00 |
33.33 |
10.00 |
10.00 |
100.00 |
| 5 |
Souvenirs Ornaments |
18.25 |
18.25 |
0.00 |
0.00 |
18.25 |
0.00 |
0.00 |
|
The