Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the fourth quarter of 2022 went up by 0.17% year-on-year to 119.27, on account of dearer prices of local food products; yet, the increase was partially offset by lower hotel room rates. Among the various sections of goods and services, price indices of Entertainment & Cultural Activities, Food, Alcoholic Beverages & Tobacco and Medicine & Personal Goods grew by 23.13%, 9.52% and 5.24% year-on-year respectively, while the index of Accommodation dropped by 19.50%.
In comparison with the third quarter of 2022, TPI for the fourth quarter rose by 3.27%. Price index of Accommodation surged by 20.39% quarter-to-quarter due to higher hotel room rates during the National Day holidays and the Grand Prix. Meanwhile, new arrival of winter clothing pushed up the index of Clothing & Footwear by 5.60%.
The average TPI for the whole year of 2022 dropped by 0.38% year-on-year to 116.65. The decrease was mainly attributable to lower hotel room rates; however, dearer prices of local food products partly offset the decrease. Analysed by section of goods and services, price index of Accommodation (-15.52%) showed a year-on-year fall, whereas the indices of Entertainment & Cultural Activities (+23.30%) and Food, Alcoholic Beverages & Tobacco (+5.11%) registered increases.
TPI reflects the price change of goods and services purchased by visitors. Sections of TPI goods and services are selected according to the consumption pattern of visitors, namely Food, Alcoholic Beverages & Tobacco; Clothing & Footwear; Accommodation; Restaurant Services; Transport & Communications; Medicine & Personal Goods; Entertainment & Cultural Activities; and Miscellaneous Goods.