Hotel room rates rising fast, CPI up 2.52% in August

07 September, 2023

Courtesy of ICRT


With a robust recovery of domestic travel, hotel room prices are rising fast. The Tourism Bureau says the average prices for tourist hotels in the first half of this year stood at NT$4,618, an increase of some NT$600, or 14-percent, compared with last year. For an average hotel, the nightly room price was NT$2,647, an increase of 8%.


Tourism officials have attributed the price hike to the rising prices of raw materials as well as the increase of electricity rates and minimum wage.


On regional differences, Nantou County reported the highest tourist hotel prices averaging NT$15,000 per room per night. Tourism officials say it's because the two 5-star tourist hotels there, La Lu, Sun Moon Lake and Fleur de Chine, primarily target upscale markets.

The accommodation industry's revenue for the first half of this year also reached NT$84.8 billion, surpassing the same period in 2019, indicating that overall, the industry has exceeded pre-pandemic levels.


In related news The CPI in August 2023, increased by 2.52% in August compared with the same month of 2022. According to a report by the Directorate General Budget Accounting and Statistics, this is mainly because the index for vegetables rose 13.33% due to Typhoons Doksuri and Khanun; the index for services for entertainment rose 9.11% due to the increase in demand; the index for meats rose 5.79% as feeding costs increased. Moreover, the indices for personal effects, services for nursery and nursing care, fuels and lubricants, food away from home, medical care services, as well as residential rents also rose 5.34%, 4.93%, 4.32%, 4.26%, 2.83% and 2.01%, respectively. However, the indices for fruits, as well as transportation fees fell 8.28% and 0.75%, offsetting part of the increase. The core CPI increased 2.56%.


For the first eight months of 2023, the CPI increased 2.29% over the same period of previous year. The indices for commodity and service moved up 1.66% and 2.91%, respectively. The core CPI increased 2.66%.

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