TOURISM PRICE INDEX THIRD QUARTER 2003
Introduction
As the summer draws to a close, the Tourism Price Index (TPI) for the
third quarter of 2003 stood at 130.33 down 5.1 percentage points from when
compared to that of June 2003 which stood at 137.27. A year earlier
(September 2002) the index stood at 129.46 .
Subgroup Comparison
For the quarter under review all the subgroups with the exception
of Recreation & Sporting Activities ( which rose by 0.36 percent) and
Miscellaneous ( which rose by 9.45 percent) showed significant declines. Package Travel fell by
9.91
percent, while Accommodation dropped by 6.74 percent. Food & Beverage
declined by 0.76 percent due to the lower prices for provisioning products for
yachts and guest houses. The Clothing and Jewelry subgroup fell by 0.24
percent due to the lower prices of Jewelry. Also declining was
Transportation which fell by 0.22 percent due to the reduction in ferry
fares.
Annual Comparative
An annual comparison indicated an increase in all the subgroups except
for Recreation & Sporting Activities which
fell by 10.23 percent and Package Travel which remain unchanged for the period
. Accommodations rose by 0.33 percent while Food, Beverage & Tobacco
increased by 0.24 percent. Clothing & Jewelry rose by 8.15 percent
while Transportation increased by 1.14 percent. Miscellaneous Tourism Expenses,
the last of the subgroup increased by 11.07 percent.
Rate of inflation
The rate of the TPI inflation stands at a quarterly rate of -5.06 and an annual rate of
0.67 percent .
TOURISM PRICE INDEX QUARTERLY COMPARISON
(March 1999=100)
| SUBGROUP |
WEIGHT |
SEP.
2003
INDEX |
JUN.
2003
INDEX |
QUARTERLY
COMPARISON |
SEP.
2002
INDEX |
ANNUAL
COMPARISON |
| Package
Travel |
14.36 |
83.72 |
92.93 |
-9.91 |
83.72 |
0.00 |
| Accommodation |
56.20 |
141.45 |
151.68 |
-6.74 |
140.99 |
0.33 |
| Food &
Beverage |
18.21 |
126.89 |
127.86 |
-0.76 |
126.59 |
0.24 |
| Clothing
and Jewelry |
1.72 |
219.96 |
220.50 |
-0.24 |
203.39 |
8.15 |
| Transportation |
4.03 |
112.06 |
112.31 |
-0.22 |
110.80 |
1.14 |
| Recreation
and Sporting Activities |
2.49 |
153.89 |
153.34 |
0.36 |
159.40 |
-3.46 |
| Miscellaneous |
2.99 |
119.51 |
109.19 |
9.45 |
107.60 |
11.07 |
| All
Groups |
100.0 |
130.33 |
137.27 |
-5.06 |
129.46 |
0.67 |
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.
2003 |
June
2003 |
Price
Change |
%
Change |
Sept.
2002 |
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 |
0.00 |
0.00 |
|
ACCOMMODATION |
| 1 |
Average Room Rates |
344.01 |
370.06 |
-26.05 |
-7.04 |
354.38 |
-10.37 |
-2.93 |
| 2 |
Charter a Boat |
440.72 |
504.36 |
-63.64 |
-12.62 |
459.87 |
-19.15 |
-4.16 |
| 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 |
12.43 |
-0.97 |
- |
12.41 |
-0.95 |
-7.66 |
| 2c |
Dinner |
30.25 |
29.66 |
0.59 |
- |
29.66 |
0.59 |
1.99 |
| 3 |
Yacht & Guest
House Provisioning |
| |
Food and Beverage ( Price Index) |
120.80 |
120.40 |
0.40 |
0.33 |
118.70 |
2.10 |
1.77 |
| |
Household Supplies (Price index) |
155.10 |
161.10 |
-6.00 |
-3.72 |
149.00 |
6.10 |
4.09 |
| |
Miscellaneous (Price Index) |
132.50 |
132.80 |
-0.30 |
-0.23 |
127.20 |
5.30 |
4.17 |
| CLOTHING
& JEWELRY |
| CLOTHING |
| 1 |
T-Shirts |
14.32 |
14.32 |
0.00 |
0.00 |
12.67 |
1.65 |
13.02 |
| 2 |
Man's and boy's pants |
22.83 |
34.99 |
0.00 |
0.00 |
35.00 |
-12.17 |
-34.77 |
| 3 |
Ladies and girl's dress |
65.00 |
66.33 |
0.00 |
0.00 |
72.00 |
-7.00 |
-9.72 |
| JEWELRY |
| 4 |
Watches |
206.00 |
210.00 |
-4.00 |
-1.90 |
140.00 |
66.00 |
47.14 |
| 5 |
Rings |
420.00 |
220.00 |
200.00 |
90.91 |
220.00 |
200.00 |
90.91 |
| 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) |
51.70 |
51.20 |
0.50 |
0.98 |
47.80 |
3.90 |
8.16 |
| 5 |
Temporary Driving License |
10.00 |
10.00 |
- |
- |
10.00 |
- |
- |
| 6 |
Gasoline |
2.35 |
2.30 |
0.05 |
2.17 |
2.30 |
0.05 |
2.17 |
| RECREATION
& SPORTING ACTIVITIES |
| 1 |
Entertainment Recreation |
22.00 |
21.50 |
0.50 |
2.33 |
17.50 |
4.50 |
25.71 |
| 2 |
Water Sports |
255.83 |
255.83 |
0.00 |
0.00 |
94.17 |
161.66 |
171.67 |
| 2 |
Diving |
75.00 |
75.00 |
0.00 |
0.00 |
75.00 |
0.00 |
0.00 |
| 3 |
Parasailing |
55.00 |
55.00 |
- |
- |
55.00 |
- |
- |
| MISCELLANEOUS |
| 1 |
Postcards |
0.53 |
0.48 |
0.05 |
10.42 |
0.45 |
0.08 |
17.78 |
| 2 |
Telephone Call (Average Call) |
1.17 |
1.17 |
- |
- |
1.17 |
0.00 |
0.00 |
| 3 |
Postage Stamp (Average Cost) |
0.46 |
0.46 |
- |
- |
0.46 |
- |
- |
| 4 |
Departure Tax |
15.00 |
10.00 |
5.00 |
50.00 |
10.00 |
5.00 |
50.00 |
| 5 |
Souvenirs Ornaments |
18.25 |
18.25 |
0.00 |
0.00 |
18.25 |
0.00 |
0.00 |
|
The