Tourist prices down by 3.5 percent

The Tourist Price Index (TPI) for the third quarter of 2016 decreased by 3.5 percent year-on-year to 126.86, slowing down after a dramatic drop during the second quarter.
Information from the Statistics and Census Service (DSEC) indicated that the decline was attributable to lower charges for hotel accommodation and reduced prices of airfares, which pushed down the price index of “accommodation” and “transport & communications” by 15.45 percent and 14.45 percent, respectively, year-on-year.
Meanwhile, the price index of “miscellaneous goods” and restaurant services rose by 4.36 percent and 2.17 percent, respectively.
Compared to the previous quarter, TPI for the third quarter of 2016 increased by 1.33 percent, as higher hotel room rates during the summer holidays drove up the price index of “Accommodation” by 13.23 percent.
TPI reflects the price change of goods and services purchased by visitors.