Lower charges keep tourist prices stable

In the second quarter of this year, the tourist price index (TPI) has held mostly stable, registering only a slight drop of 1.4% year-on-year, information from the Statistics and Census Service (DSEC) showed.

According to the survey conducted by DSEC, the slight decrease was mainly due to the lower charges registered during the period for hotel accommodation, as well as the falling prices of handbags and women’s clothing.
Meanwhile, local food products and the charges for restaurant services climbed, offsetting part of the decrease registered in the other segments.

According to DSEC, the categories that registered the most significant decreases were accommodation (-8.4%) and clothing and footwear (-3%), while food, alcoholic beverages and tobacco increased by 2.8% and entertainment and cultural activities grew 2.7%.

When compared with the first quarter of this year, the TPI dropped by 7.2%, led by the index of accommodation, which plunged by some 31.6% quarter-to-quarter, partly due to the effect of the Chinese Lunar New Year.

The impact of the fall on hotel prices was not overly significant due to the new arrival of summer clothing, which drove up the price index of clothing and footwear by 6.4%.

TPI reflects the price change of goods and services mostly purchased by visitors and is divided into sections of goods and services according to the consumption pattern of visitors. RM