Tourist prices decline for first time since records began

The average Tourist Price Index (TPI) for the entirety of 2015 decreased by 0.86 percent year-on-year to 138.39, marking the first annual decline recorded since the inception of the index in Macau.
The TPI reflects the changes in the prices of goods and services purchased by visitors, which are separated into a number of popular categories including “Food, Alcoholic Beverages & Tobacco”, “Accommodation”, “Restaurant Services”, and “Entertainment & Cultural Activities.”
According to the data, which was released yesterday by the Statistics and Census Service (DSEC), the TPI for the fourth quarter of 2015 decreased by 3.03 percent year-on-year to 141.29, bringing down the yearly average. The drop may be attributed to lower costs for hotel accommodation in the third quarter, DSEC proposed in a statement.
Over the course of 2015, the price indexes for “Food, Alcoholic Drinks & Tobacco”, “Entertainment & Cultural Activities” and “Restaurant Services” increased by 4.53 percent, 4.22 percent and 4.02 percent respectively.
This could not offset the falling price index for “Accommodation,” which tumbled 7.08 percent year-on-year.
While the price index for “Accommodation” for the fourth quarter was down by more than 10 percent year-on-year, it showed considerable price growth from the previous quarter (Q3).
The TPI for the fourth quarter of 2015 increased quarter-to-quarter by 7.48 percent, led by “Accommodation” which rose by 25.19 percent due to higher hotel room rates during the National Day holidays, the Macao Grand Prix and Christmas Holidays.
Meanwhile, “Clothing & Footwear” also saw a significant rise in the Tourist Price Index for the fourth quarter, compared with the previous quarters. The 9.5 percent upswing was accredited by DSEC to the arrival of new winter clothing.