The Tourist Price Index (TPI) for the first quarter of 2025 rose by 1.15% compared to the same period in 2024, according to the Statistics and Census Service (DSEC).
This increase was mainly due to higher prices in jewellery, watches, and entertainment, though it was partly offset by a decrease in hotel room rates.
Notably, the price indices for Miscellaneous Goods, including jewellery and watches, and Entertainment & Cultural Activities, saw significant increases of 15.28% and 7.98%, respectively.
However, the Accommodation index fell by 8.47%.
When compared to the previous quarter, TPI in Q1 2025 declined by 3.75%, driven by a 16.3% drop in accommodation costs.
Meanwhile, Miscellaneous Goods and Entertainment & Cultural Activities saw respective increases of 5.01% and 2.52%.
Over the last four quarters, the average TPI showed a rise of 2.27%. Significant price hikes were observed in Miscellaneous Goods (+12.02%), Clothing & Footwear (+4.24%), and Restaurant Services (+4.21%).
However, Entertainment & Cultural Activities experienced a decline of 8.6%.
The TPI measures the price changes of goods and services purchased by visitors and reflects consumer patterns in areas like food, accommodation, transport, and leisure activities. LV
No Comments