TOURISM PRICE INDEX SECOND QUARTER 2004
Introduction
The Tourism Price Index (TPI) for the second quarter of 2004 stood at
148.40, down 14.79 percent from the 174.15 index level recorded in March
2004. A year earlier (June 2003) the index stood at 137.27.
Subgroup Comparison
The quarterly comparison of the TPI showed significant decline in four
(4) of the (7) subgroups due to seasonality. Accommodation fell by 22.29
percent while, Clothing
& Jewelry dropped by 0.82 percent. Transportation recorded a
4.07 percent decline and the TPI saw a 1.99 percent decrease in the
Recreation and Sporting Activities subgroup. Package
Travel remained unchanged for the period in review. Food, Beverage &
Tobacco rose by 1.30 percent due to the higher prices of miscellaneous
provisioning products for yachts and guesthouses. The Miscellaneous subgroup
increased by 6.43 percent namely due to the increase in the price of
souvenirs.
Annual
An annual comparison of the subgroups indicated an increase in all the
subgroups except
for Clothing & Jewelry, (which fell by 2.31 percent)
and Transportation (which fell by 0.29 percent). Package Travel
increased by 33.88 percent, Accommodation rose by 6.26 percent and
Food, Beverage & Tobacco decreased by 1.84 percent. Recreation
and Sporting
Activities went up by 9.37 percent and the Miscellaneous Tourism Expense
subgroup registered a 17.81 percent increase.
Rate of inflation
The TPI inflation stood at a quarterly rate of -14.79 and an annual rate of
8.10 percent .
TOURISM PRICE INDEX QUARTERLY COMPARISON
(March 1999=100)
| SUBGROUP |
WEIGHT |
JUNE
2004
INDEX |
MAR.
2003
INDEX |
QUARTERLY
COMPARISON |
JUNE
2003
INDEX |
ANNUAL
COMPARISON |
| Package
Travel |
14.36 |
124.42 |
124.42 |
0.00 |
92.93 |
33.88 |
| Accommodation |
56.20 |
161.17 |
207.40 |
-22.29 |
151.68 |
6.26 |
| Food &
Beverage |
18.21 |
130.22 |
128.54 |
1.30 |
127.86 |
1.84 |
| Clothing
and Jewelry |
1.72 |
215.40 |
217.17 |
-0.82 |
220.50 |
-2.31 |
| Transportation |
4.03 |
111.99 |
116.74 |
-4.07 |
112.31 |
-0.29 |
| Recreation
and Sporting Activities |
2.49 |
167.71 |
171.12 |
-1.99 |
153.34 |
9.37 |
| Miscellaneous |
2.99 |
128.64 |
120.87 |
6.43 |
109.19 |
17.81 |
| All
Groups |
100.0 |
148.40 |
174.15 |
-14.79 |
137.27 |
8.10 |
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 |
June
2004 |
March
2003 |
Price
Change |
%
Change |
June
2003 |
Price
Change |
% Change |
|
Package Travel/Package Tour |
| 1 |
Sail-Away the BVI |
1,620.00 |
1,670.00 |
-50.00 |
-2.99 |
1,210.00 |
140.00 |
33.88 |
|
ACCOMMODATION |
| 1 |
Average Room Rates |
403.94 |
601.92 |
-197.98 |
-32.89 |
370.06 |
33.88 |
9.15 |
| 2 |
Charter a Boat |
464.33 |
666.78 |
-202.45 |
-30.36 |
504.36 |
-40.03 |
-7.94 |
| FOOD,
BEVERAGES AND TOBACCO |
| 1 |
Food and Meals at hotel |
66.10 |
66.10 |
0.00 |
0.00 |
66.10 |
0.00 |
0.00 |
| 2 |
Food and Meals outside Hotel |
| 2a |
Breakfast |
8.75 |
8.75 |
0.00 |
- |
8.75 |
0.00 |
0.00 |
| 2b |
Lunch |
11.32 |
11.46 |
-0.14 |
- |
12.43 |
-1.11 |
-8.93 |
| 2c |
Dinner |
31.24 |
30.25 |
0.99 |
- |
29.66 |
1.58 |
5.33 |
| 3 |
Yacht & Guest
House Provisioning |
| |
Food and Beverage ( Price Index) |
122.00 |
120.90 |
1.10 |
0.91 |
120.40 |
1.60 |
1.33 |
| |
Household Supplies (Price index) |
156.00 |
155.10 |
0.90 |
0.58 |
161.10 |
-5.10 |
-3.17 |
| |
Miscellaneous (Price Index) |
133.80 |
133.70 |
0.10 |
0.07 |
132.80 |
1.00 |
0.75 |
| CLOTHING
& JEWELRY |
| CLOTHING |
| 1 |
T-Shirts |
13.75 |
14.32 |
-0.57 |
-4.00 |
14.32 |
-0.57 |
-4.00 |
| 2 |
Man's and boy's pants |
26.50 |
23.33 |
3.17 |
13.57 |
22.83 |
3.67 |
16.05 |
| 3 |
Ladies and girl's dress |
65.00 |
65.00 |
0.00 |
0.00 |
65.00 |
0.00 |
0.00 |
| JEWELRY |
| 4 |
Watches |
196.67 |
206.67 |
-10.00 |
-4.84 |
206.00 |
-9.33 |
-4.53 |
| 5 |
Rings |
420.00 |
407.50 |
12.50 |
3.07 |
420.00 |
0.00 |
0.00 |
| TRANSPORTATION |
| 1 |
Taxi Fare |
18.00 |
18.00 |
- |
- |
18.00 |
- |
- |
| 2 |
Boat Fare |
19.50 |
22.50 |
-3.00 |
-13.33 |
25.00 |
-5.50 |
-22.00 |
| 3 |
Island Tour per person |
17.50 |
17.50 |
- |
- |
17.50 |
- |
- |
| 4 |
Car Rental (Average) |
51.07 |
56.80 |
-5.74 |
-10.10 |
51.20 |
-0.14 |
-0.26 |
| 5 |
Temporary Driving License |
10.00 |
10.00 |
- |
- |
10.00 |
- |
- |
| 6 |
Gasoline |
2.53 |
2.42 |
0.11 |
4.34 |
2.30 |
0.23 |
9.78 |
| RECREATION
& SPORTING ACTIVITIES |
| 1 |
Entertainment Recreation |
19.00 |
22.00 |
-3.00 |
-13.64 |
21.50 |
-2.50 |
-11.63 |
| 1 |
Sports Fishing Activities |
550.00 |
455.83 |
94.17 |
20.66 |
455.83 |
94.17 |
20.66 |
| 2 |
Day Trip |
76.00 |
56.50 |
19.50 |
34.51 |
75.00 |
1.00 |
1.33 |
| 2 |
Diving |
79.11 |
80.00 |
-0.89 |
-1.11 |
78.00 |
1.11 |
1.42 |
| 3 |
Parasailing |
55.00 |
55.00 |
- |
- |
55.00 |
- |
- |
| MISCELLANEOUS |
| 1 |
Postcards |
0.50 |
0.52 |
-0.02 |
-3.85 |
0.48 |
0.02 |
4.17 |
| 2 |
Telephone Call (Average Call) |
0.98 |
1.17 |
-0.19 |
-16.05 |
1.17 |
-0.19 |
-16.05 |
| 3 |
Postage Stamp (Average Cost) |
0.46 |
0.46 |
- |
0.54 |
0.46 |
- |
0.54 |
| 4 |
Departure Tax |
20.00 |
20.00 |
- |
- |
20.00 |
- |
- |
| 5 |
Souvenirs Ornaments |
22.63 |
18.25 |
4.38 |
23.97 |
18.25 |
4.38 |
23.97 |
|
The