Cheap thrills

The local tourist price index (TPI) dropped by 5.44 per cent year-on-year, to 130.86 for 2016, due to decreases in both the cost of accommodation and transport & communications, according to official data released last Friday by the Statistics and Census Service (DSEC).
For last year, the average price index of accommodation for tourists plunged by 21.2 per cent compared to one year ago, while charges for transport & communications also went down by 9.82 per cent year-on-year.
Prices for entertainment and cultural activities in the city also fell by 1.19 per cent compared to 2015.
However, charges for restaurant services went up by 2.27 per cent year-on-year. In addition, average prices of miscellaneous goods and food, alcoholic beverages & tobacco jumped by 2.2 per cent and 1.91 per cent year-on-year, respectively, according to the DSEC.
The tourist price index reflects the price change of goods and services purchased by visitors.

Quarterly results
For the fourth quarter of 2016, the index declined by 4.48 per cent to 134.96 year-on-year, also due to the cheaper hotel room rates and lower charges for transport & communications when compared to the same quarter of 2015.
In the three months, the average price index of accommodation dived by 15.97 per cent, while that of transport & communications also dropped by 16.23 per cent year-on-year, respectively.
Meanwhile, charges of restaurant services increased by 3.48 per cent year-on-year for the quarter, while that of miscellaneous goods also grew by 3.1 per cent from one year ago.
On a quarter-to-quarter comparison, the quarter’s average price index for tourists, however, recorded an increase of 6.39 per cent.
The 24.4 per cent quarter-to-quarter growth in accommodation prices due to the National Day Holidays, the Macau Grand Prix and the Christmas holidays were the reasons given by the DSEC for the increase.
Apart from the increase in accommodation costs, tourists also saw the average prices of clothing & footwear jump by 8.13 per cent quarter-to-quarter for the three months, driven by the increased prices of ladies clothing and handbags.
Yet, the costs for transport & communications were still cheaper than in the third quarter of 2016, decreasing by 2.67 per cent, as airfares were lower on average in the three months, the Bureau said.