Outlook in 2022
The island of Cebu offers a multitude of opportunities for its guests. It houses the City of Cebu which serves as the center of business and commerce in the Visayas. The island boasts its people, its network, and its beauty – fulfilling a holistic work-live-play lifestyle.
In terms of population, 64% of the whole population of Central Visayas is situated on the island of Cebu. As of 2021, among the 5.2 million people in Cebu, 2.3 million are in the labor force, with a participation rate of 65%, In terms of education and talent development, Central Visayas is a home to a total of 165 Higher Education Institutions including state universities and colleges (SUCs) and private institutions.
Aside from leveraging on the island’s growing population of 5.2 million people and a labor pool of 2.3 million people (PSA, 2021). The economic activities in the island of Cebu accounts for 72.4% of the Php 1.1 billion Regional Gross Domestic Product of Central Visayas. It is largely propelled by its thriving seaport, as well as the scattered businesses and IT-related hubs, and industrial centers across the island. The island has a number of special economic zones, including but not limited to, Mactan Economic Processing Zone 1 (MEPZ-1), Mactan Economic Processing Zone 2 (MEPZ-2), and the 27-hectare IT park in Cebu housing multiple local and international research and development companies, business process-outsourcing companies, and contact centers.
The economic prosperity of Cebu City is attributed to three industries namely, Manufacturing, Wholesale and retail trade, repair of motor vehicles and motorcycles, and Real Estate and Ownership of Dwellings, as suggested on the 3-year average percent share to the economy (2018-2020).
The road network and ports of the island are also conducive for any investor’s success. The island features an extensive road network of national, provincial, and local roads, and infrastructure network that value mobility and connectivity. Likewise, The island is also surrounded by a strategic and efficient port system, composed of an international port, and a base port dedicated for domestic shipments. Additionally, the base port is supported by 5 sub ports, all designed to facilitate the flow of domestic inter-island commerce.for more information visit: Cebu Port Authority
The Cebu International Port has a capacity of 1,953 TEU ground slots, 204 refrigerated container plugs, and a bulk handling terminal, while the Cebu Domestic Port has a berthing space of 3,838 meters, 3 piers, 3 passenger terminals for inter-island routes, and 2 ferry terminals connecting Cebu City and Mactan.
In terms of air connectivity, the Mactan International airport hosts domestic and international visitors travelling to and from Cebu for business and for leisure. In terms of its reach the airport accommodates 30 domestic routes and 20 international routes.
Ultimately, the island showcases its beauty through different tourist attractions. Adventurers can go on hikes at Osmeña Peak, capping off with a swim and canyoneering fun at Kawasan Falls. For sun-and-sea lovers, Cebu has a multitude of beaches in the islands of Mactan, Pescadores, Camotes, and Bantayan. They can further be in one with the ocean as they swim with thresher sharks in Malapascua Island in the northern part of Cebu or whale sharks in Oslob in southern part of Cebu. Heritage lovers are even more welcome in the island due to its rich history and culture with notable sites such as the Magellan’s Cross and the oldest Christian Church – the Basilica de Santo Niño. Moreover, people can take advantage of its rich culture reflected through its cuisines and local delicacies, offering a medley of flavors. Lifestyle malls and urban parks are also available in the island offering convenience and up to date merchandise. The presence of tourist attractions at arm’s length fully encourages a work-life balance to all residents and visitors. Truly, being in Cebu is always a step away from being connected with nature.
Investors are more than welcome to take root in the island, solidifying their marks in their own industries whilst basking in the island’s abundance and tranquility. Connect in Cebu. Choose Cebu.