International Recreation and Culture Price Comparisons

ICP 2017 provides a global benchmark for comparing the relative prices of recreation and cultural goods and services across economies. This dataset is part of the World Bank's International Comparison Program, which collects detailed price data to calculate purchasing power parities. The 2017 round involved over 176 participating economies.

Use Cases

• Calculate purchasing power parities for the 'Recreation and Culture' expenditure class to compare real incomes across countries.
• Analyze the relative price levels of cultural services like cinema tickets or museum admissions between developed and developing economies.
• Benchmark national consumer price indices for recreation against an international standard using the detailed item-level price data.
• Model household expenditure elasticity for cultural activities using price data cross-referenced with national accounts.

Strengths

• Data is standardized across over 176 participating economies, enabling direct cross-country comparison.
• Part of a globally coordinated statistical program (ICP) with a rigorous methodology for price collection and validation.

Limitations

• Data is from the 2017 reference year and may not reflect current price levels post-2020 economic shifts.
• Price comparisons can be affected by differences in product quality and availability across diverse economies.

Provenance

Source

World Bank International Comparison Program (ICP).

Collection Method

Coordinated international price surveys and national accounts data collection for the 2017 ICP round.

Time Range

2017 reference year.

Freshness

Reference year 2017; ICP data is typically released in multi-year cycles.

Geography

Global coverage, including over 176 economies.