1. TOURIST ARRIVALS AND EARNINGS. Higher arrivals and tourism earnings in June 2013.
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1 This report is a monthly release of the latest available indicators on the tourism sector and private remittances, with information sourced from the Central Bank, Samoa Bureau of Statistics and the Ministry for Revenue. Report No. TERR 06/13 June 2013 Private remittances to Samoa represent mainly household transfers from Samoan expatriates or relatives residing overseas for the upkeep or maintenance of their families here in Samoa. In addition, remittances also include funds remitted for the various Church denominations, charitable and non government organisations, and foreign expatriates working in the private sector as well as insurance and pension claims received. Private remittances that come in the form of money are captured through the banking system (commercial banks, money transfer operators and foreign exchange dealers) while in-kind remittances such as food, clothing, home appliances, electronic goods, other miscellaneous goods and more recently second hand cars are captured by the Customs Division of the Ministry for Revenue. Like many small developing economies, remittances to Samoa represent a sizeable and stable source of foreign exchange for the country and income for the local community. It makes up a large proportion of domestic consumption spending. According to international convention, a tourist to Samoa is a person who normally resides abroad and is visiting Samoa for a period that is more than 24 hours and less than 12 months in duration. It therefore includes Samoans who reside permanently abroad but are visiting friends and relatives in Samoa for a short time. Although cruise ship passengers tend to stay for less than 24 hours in Samoa, their spending is estimated and added to the balance of payments. The tourism sector plays a leading role in Samoa s economic development. Tourism not only generates foreign exchange earnings for the Samoan economy, the sector is also amongst the largest employers, providing a vehicle to distribute income throughout the urban and rural workforce. Key findings during June 2013: Seasonal rebound in tourist arrivals saw higher tourism earnings in June The inflow of private remittances fell in the month under review. 1. TOURIST ARRIVALS AND EARNINGS Higher arrivals and tourism earnings in June The total number of tourist arrivals in June 2013 increased by 31.9 percent to 12,229 but was 14.3 percent lower than its level in June (See Table 1 and Graph 1). Underpinning this month s higher number of arrivals by market were increased travellers from mainly New Zealand, American Samoa and Australia. Likewise, increases were noted for most purpose of travel except for those visiting families and relatives (VFR) in the month under review. Number of persons 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 June July Aug Sep Graph 1 TOTAL ARRIVALS Oct Nov Dec Jan Feb Mar Apr May June
2 The increase in tourist arrivals combined with a 8.2 percent increase in the average spending per tourist, saw total tourism revenues in June 2013 rise largely by 42.7 percent ($10.1 million) to $33.6 million. (See Graph 2 and Table 1). However, when compared to June 2012, this month s tourism earnings was 14.5 percent lower, which pushed total tourism proceeds in the twelve months of 2012/2013 down by 6.4 percent to $314.7 million from $336.3 million in the same period of 2011/12. Value in Tala Million Graph 2 TOURISM EARNINGS June July Aug Sep Oct Nov Dec Jan Feb Mar Apr May June TOURISM EARNINGS BY MARKET AND BY PURPOSE Leading the expansion in total tourism earnings in June 2013 was a $3.6 million increase in the Australian market to $11.2 million, reflecting an 14.5 percent rise in its average spending as well as a 28.2 percent increase in arrivals. In addition, tourism earnings from the USA at least doubled ($2.4 million) to $3.5 million as a result of a sharp rise in average expenditure together with a 25.7 percent hike in arrivals from the US. In addition, proceeds from American Samoa visitors rose to $4.0 million in June 2013 due to a 15.9 percent hike in average expenditure and a 55.6 percent expansion in the number of visitors from that country. Earnings from New Zealand rose by $1.4 million to $11.5 million in June 2013 due to a 24.1 percent jump in arrivals despite an 8.6 percent reduction in average expenditure. Revenue from other countries (such as China, Japan, other Asian countries and other Pacific islands) increased by 66.2 percent reflecting an 19.8 percent increase in average spending as well as a 38.7 percent increase in total arrivals. On the contrary, earnings from the European market fell by $0.2 million to $0.5 million as a result of a 45.6 percent decrease in average spending, which outweighed a 27.0 percent hike in tourist arrivals. On a proportional scale, the New Zealand market accounted for 34.1 percent of this month s total proceeds, edging down from its 37.1 percent share in June 2012 and its 42.6 percent share in the previous month. Just behind at second place was Australia with a 33.3 percent share in June 2013, up from its 32.3 percent share in the previous month and 30.4 percent ratio in June The third major contributor was the American Samoa market, which accounted for 11.9 percent of total tourism proceeds in the month under review, up from 9.4 percent in May 2013 but short of its 12.8 percent share a year ago. The USA accounted for 10.3 percent of total earnings in June 2013, up from 4.6 percent in May 2013 and 9.9 percent in June The market share for other countries rose to 8.9 percent from its 7.8 percent share in the preceding month and 8.6 percent share in June The remaining 1.5 percent of total tourism revenues in the month under review belonged to Europe, down from 3.1 percent in the previous month but up from 1.2 percent in the same month of (See Graph 3). New Zealand (8) 34.1% Europe 1.5% USA 10.3% Other Countries 8.9% Graph 3 EARNINGS BY MARKET American Samoa 11.9% Australia 33.3% June 13 Australia 30.4% American Samoa 12.8% Europe 1.2% Other Countries 8.6% June 12 New Zealand (8) 37.1% The increase in total tourism proceeds in June 2013 was driven mostly by a rise in proceeds from genuine holiday makers, which increased by $4.0 million to $12.4 million on the back of a 45.9 percent rise in arrivals and a 1.3 percent increase in average expenditure. In addition, ` USA 9.9% - 2 -
3 earnings from those visiting family and friends rose by $3.2 million to $14.3 million, due to a 32.6 percent rise in average expenditure despite a 2.9 percent drop in arrivals. Tourism proceeds sourced from other travellers improved to $2.4 million, stemming from a more than twofold increase in arrivals and a 52.4 percent climb in average expenditure during June A $0.1 million expansion was recorded for those who arrived for sports to $0.4 million; as a result of both higher arrivals and average spending for the month under review. Likewise, tourism proceeds sourced from business and conferences edged up $1.1 million to $4.2 million due to increases of 21.1 percent and 11.8 percent in average spending and total arrivals respectively in the month under review. A comparative analysis on earnings by purpose of travel revealed a slight change in its composition in the month under review. The bulk of total visitor earnings were sourced from genuine visiting family and friends, despite its share falling to 42.4 percent from its 47.0 percent share in May 2013 and 49.1 percent share in June And, with its higher earnings in the month under review, the share of holidaymakers ranked second, up slightly to 36.9 percent from 35.6 percent and 33.9 percent in May 2013 and June 2012 respectively. At a distant third, was the market share for those that arrived for businesses and conferences, at 12.5 percent of total tourism earnings in June 2013, down from 13.1 percent in the previous month but up from 11.1 percent in June last year. Tourism earnings from other travellers accounted for 7.0 percent of total earnings, up from its shares of 3.0 percent each in the previous month and June 2012 respectively. The remaining 1.2 percent total proceeds in June 2013 were sourced from Sports visitors, which was unchanged from the previous month but down from its 2.8 percent proportion in June last year. (See Graph 4 and Table 1). Business & Conference 13% VFR 42% June 13 Graph 4 EARNINGS BY PURPOSE Sport 1% Holiday 37% 1.3 TOURISM PRICE INDEX (TPI ) Other 7% June 12 The overall TPI in June 2013 increased by 1.9 percent from the previous month but was 2.5 percent lower than in June For the month under review, the accommodation 1 sub-group rose by 9.4 percent, while the family obligations and miscellaneous sub-groups again recorded reductions of 1.2 percent each in June 2013 in line with the downward movement in the June 2013 Consumer Price Index. The meals and drinks sub-group also fell by 2.9 percent while the other transport sub-index rose by 0.7 percent. The car rental sub-group remained unchanged in the month under review. Note: The Accommodation sub index has been revised starting January 2013 to reflect the closure of Aggie Grey s Hotel (Apia) following TC Evan. Tanoa Tusitala Hotel room rates are used to replace Aggie Grey s Hotel rates until such time the Aggies Hotel is reopened. The trend over the year reflected essentially decreases across all the categories. The accommodation index recorded a 2.8 percent decrease over the year namely due to Aggie Greys Hotel and Bungalows in Apia closure after cyclone Evan, which has been excluded from TPI The Tourism Price Index (TPI) is compiled by the Central Bank of Samoa in an attempt to measure the level of prices that are relevant to tourists visiting Samoa. The TPI is based on the results of the Tourism Survey that was conducted from August 2002 to July 2003 by the Samoa Tourism Authority. VFR 49% ` Business & Conference 11% Holiday 34% Sport 2.8% Other 3% 1 The Accommodation sub index has been revised starting January 2013 to reflect the closure of Aggie Grey s Hotel (Apia) following TC Evan. Tanoa Tusitala Hotel room rates are used to replace Aggie Grey s Hotel rates until such time the Aggies Hotel is reopened
4 June 2013 TOURISM EARNINGS & REMITTANCES REPORT Graph 5 TOURISM PRICE INDEX Annual Percent Change Index Level Percent Index calculations until their reopening, possibly in With regards to car rental prices, there was a decrease of 5.0 percent over the year while other transportation also fell by 0.7 percent. The meals and drinks sub-category recorded a 3.4 percent fall over the year followed by decreases of 1.8 percent in both family obligations and miscellaneous sub-indices respectively. (See Graph 5 and Table 1) June July Aug Sep Oct Nov Dec 2012 Jan Feb Mar Apr May June GROSS PRIVATE REMITTANCES Seasonal trends underpinned the lower inflow of private remittance in the month under review. Private remittances in June 2013 fell 24.4 percent ($10.8 million) to $31.4 million, which was also 10.8 percent lower than in June (See Graph 6). Graph 6 Gross Private Remittances 50.0 VALUE IN TALA MILLION June July Aug Sep 2012 Oct Nov Dec Jan Feb Mar Apr May Jun 2013 In terms of recipients, the lower total gross inflow of private remittances in the month under review reflected a large drop in funds for individuals and households, down by $6.0 million while funds for churches, school and charities also fell by $2.1 million in June In addition, other private transfers in the form of hand carried cash converted at local banks and foreign exchange dealers, declined by $0.1 million in June BY SOURCE COUNTRY In June 2013, lower remittances inflows were recorded from all our main source countries such as New Zealand, Australia, other countries, American Samoa and the United States. A $2.5 million decrease was recorded for funds received from New Zealand; with those received from Australia edging down by $3.6 million. Funds remitted from the US also fell by $2.4 million to $5.5 million in the month under review, but was 21.6 percent lower than in June Furthermore, remittances from other countries (such as Germany, Japan and United Kingdom) decreased by $2.8 million to $4.0 million in the month under review but was 18.0 percent higher than in the same month last year. On a proportional basis, despite the decrease in remittances from New Zealand; its share of total private remittances rose to 38.0 percent in June 2013, from its 34.8 percent and 31.6 percent shares respectively in May 2013 and June last year. The Australian market accounted for 29.6 percent, down from its 31.0 percent share in the previous month and also well short of its 36.4 percent share a year ago. Likewise, remittances sourced from the US, which accounted for
5 percent of this month s total private remittances, were down from its 18.9 percent share in the preceding month and 19.9 percent share in June last year. Furthermore, funds from other countries, which accounted for 12.9 percent of the total private remittances in June 2013, rose from its 10.4 percent share in May 2013 and 9.7 percent share over a year earlier. Private transfers from American Samoa represented 2.0 percent of total remittances inflow, falling from its 4.8 percent share in the previous month and 2.4 percent in June (See Graph 7). AUSTRALIA 30% AM SAMOA 2% Graph 7 Gross Private Remitance by Source Country OTHERS 13% USA 17% NZ 38% AM SAMOA, 2% AUSTRALIA 36% Others, 10.0% June 13 June 12 USA, 20% NZ, 32% 2.2 SHARES OF BANKS AND NON-BANKS The main formal channels of receiving remittances to Samoa are through Money Transfer Operators (MTOs) including foreign exchange dealers, and commercial banks. Currently, there are 14 MTO s and 6 commercial banks. A noticeable trend over the years has been the increase in remittances sent through MTOs now includes internet based MTOs. In June 2013, the share of total private remittances received through MTOs rose to 68.2 percent while those from Commercial fell to 31.8 percent. (See Graph 8). Non 71% GRAPH 8 Share of vs Non 29% Non 68% 32% 2.3 COST OF REMITTANCES 2 Non 68% 32% June 12 May 13 June Total Costs 3 of Sending Money from New Zealand In New Zealand, the total cost for sending NZD $ to Samoa averaged around percent in June 2013, up from percent in May In June 2013, the cheapest rate for sending NZD$ from New Zealand to Samoa continued to be offered by the internet-based MTO-KlickEx, with its Low Priority option charging 0.54 percent of total cost, lower than its 0.76 percent costs in the previous month. For the traditional money transfer operators in New Zealand, IMEX Money Transfer charged the lowest, around 2.7 percent, which was slightly higher than its 2.68 percent fee in May For the traditional banking outlets, the cheapest transfers through electronic cards was Westpac s Express Card (Global Alliance ATM) at a rate of around 6.19 percent, down from its 6.65 percent in the previous month 2 The report on the cost of sending money to Samoa, which is taken from the Send Money Pacific Website, highlights the costs and fees charged by the various commercial banks and MTO s, in both New Zealand and Australia. The report looks specifically on the cost of sending AUD$ from Australia to Samoa as well as NZD$ from New Zealand. 3 Total costs include the fee, foreign currency exchange margin plus any other cost charged
6 while the cheapest traditional banking transfer service also belonged to Westpac branch, which offered a cost of percent, down from its percent fee in May (See Table 3a.) Costs of Sending Money from Australia To send AUD$ from Australia to Samoa in June 2013, the cheapest rate on offer was through KlickEX-Low Priority at a fee of 0.58 percent, down from its 0.69 percent fee in May For money transfer operators to remit AUD$200.00, the cheapest rate was offered by IMEX Money Transfer at a cost of 6.19 percent, down from its 6.37 percent cost in the previous month. On the commercial banks side, ANZ s Pacific Money Transfer Card (BPAY) charged the lowest electronic transfer service of 8.29 percent compared to its 8.58 percent fee in May On the traditional transfer channel via the banking system; Westpac branch offered the lowest fee of percent, which is down from its percent charge in the previous month. CENTRAL BANK OF SAMOA 27 th August 2013 ************** - 6 -
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