{"id":22680,"date":"2020-06-06T15:33:49","date_gmt":"2020-06-06T07:33:49","guid":{"rendered":"https:\/\/ceburecruitment.com\/?p=22680"},"modified":"2023-07-09T15:39:49","modified_gmt":"2023-07-09T07:39:49","slug":"why-investors-take-advantage-cebu-growing-economy-how","status":"publish","type":"post","link":"https:\/\/ceburecruitment.com\/cebu-recruitment-articles-advice\/why-investors-take-advantage-cebu-growing-economy-how\/","title":{"rendered":"Why Investors Should Take Advantage of Cebu\u2019s Growing Economy and How"},"content":{"rendered":"
[vc_column_text]\"\"<\/p>\n

The Philippines has one of the fastest-growing economies in the world. Back in 2019, governing agencies such as the International Monetary Fund, Asian Development Bank, and the World Bank stated that the nation\u2019s economy would grow faster compared to other neighboring countries like Indonesia, Malaysia, Thailand, and Vietnam.<\/p>\n

The year 2020 will be no different\u2014the country\u2019s economy is expected to boom at a rate of 6.2% to 6.4%<\/a>. This is just one of the many various reasons why businesses should invest in the country.<\/p>\n

Other than a steady and consistently growing economy, the Philippines also boasts a strategic location, a relatively low cost of living, and several tax benefits to businesses. But, aside from Metro Manila and other notable regions, companies should also be excited about Cebu\u2019s robust economy.<\/p>\n

In 2018, Central Visayas attained 7.6%<\/a> growth in the gross regional domestic product (GRDP), coming in fourth, behind regions 5 (Bicol), 4B (MIMAROPA), and 11 (Davao).<\/p>\n

Thanks to growth drivers such as its vibrant tourism, the high employment rate for Business Process Outsourcing (BPOs), and proper government spending on construction, Cebu was able to attain an average GRDP of 6.8%<\/a> for the past five years.<\/p>\n

While there\u2019s still a lot of work to be done, people can remain optimistic about the region\u2019s future. Whether you\u2019re looking to buy pieces of property or planning to set up a business outside Metro Manila, here are five big reasons why you should invest in Cebu.<\/p>\n

1. Economic zones<\/strong><\/p>\n

Cebu is a great place to start or expand your operations since it hosts nine economic zones. Starting up a business here will be a lot easier thanks to incentives such as tax exemptions that can trim down your expenses and improve the bottom line. Over time, these economic zones will be filled with world-class organizations, so settling there early while prices are still affordable can be one of your best decisions.<\/p>\n

2. Booming constructions<\/strong><\/p>\n

One of the biggest contributing factors to Cebu\u2019s growth is its construction boom. Since the demand for residential areas, commercial spaces, and office buildings has risen significantly, both the private sector and government agencies involved were driven to satisfy the area\u2019s growing needs.<\/p>\n

To put everything into perspective, Central Visayas has emerged as the region with the second-most construction projects in 2019. Based on the approved building permits collected by the Philippine Statistics Authority, Region 7 built a total of 5 072 construction projects<\/a> at the end of the second quarter of 2019.<\/p>\n

With no signs of slowing down, it\u2019s expected that Cebu\u2019s construction projects will pave the way for a stronger economy and more opportunities.<\/p>\n

3. Tourism<\/strong><\/p>\n

Other than being a center for trade and commerce, Cebu is also close to several popular tourist destinations such as Kawasan Falls and Oslob. The city is easily accessible by land, air, and sea that it\u2019s turned into a gateway for tourism and has significantly contributed to the surge of local and foreign visitors in other neighboring areas.<\/p>\n

As the oldest city in the country, it\u2019s no surprise that Cebu also boasts a rich culture and history. Apart from fun activities, historical sites, and beautiful tourist spots, local cuisine and fashion have also contributed greatly to Cebu\u2019s tourism revenue.<\/p>\n

Now that it\u2019s been designated as a UNESCO \u201cCreative City,\u201d its tourism rate is only expected to rise in the years to come. If you\u2019re a business owner, you can align your marketing strategy with the city\u2019s tourism efforts to attract customers effectively.<\/p>\n

4. Real estate<\/strong><\/p>\n

As Cebu is recognized as a tourist destination, one should also take note that the province is capturing the attention of global investors. When it comes to matters related to real estate, most people are hesitant to move to a location that can\u2019t give them the comfort and convenience that a metropolitan area provides. But, thanks to its development, Cebu has been pegged as a perfect mix of the urban and the rural.<\/p>\n

Real estate giants and other corporations are working non-stop to build residential and commercial spaces. Now that Cebu is can also provide the necessities that Metro Manila can, a touch of its provincial atmosphere has tagged it as one of the most livable areas in Asia.<\/p>\n

If you\u2019re looking for an investment, buying a piece of property in the location while the price is still low and eventually renting it out can potentially give you a decent sum of returns.<\/p>\n

5. Business Process Outsourcing<\/strong><\/p>\n

Alongside India and Malaysia, the Philippines has established itself as one of the top outsourcing destinations in the world, and now, BPOs are expanding to Cebu after its success in Metro Manila. The city\u2019s workforce is home to many impressive talents, and as of today, it also hosts several top companies that range from the IT sector up to the customer service industry.<\/p>\n

If you\u2019re worried that you won\u2019t have an agency that supports your business operations, you can rest assured that there are a lot of competent companies here that you can partner with to attain the solutions you need.<\/p>\n

Take <\/strong>Advantage of Cebu\u2019s Growing Economy<\/strong><\/p>\n

Cebu\u2019s continuous development is expected for years to come. As its economy grows, more opportunities will eventually present themselves in one form or another. Whether you\u2019re planning to start a business, expand your operations, or live outside the Metro, Cebu should definitely be one location on top of your list.<\/p>\n

Take advantage of this flourishing region. If you\u2019re looking for a recruitment firm in Cebu<\/a>, we\u2019ll be glad to help your company transition and absorb the best talents available in the area. Contact us<\/a> today for solutions!<\/p>\n

 <\/p>\n

This article was originally posted on manilarecruitment.com<\/em><\/a>[\/vc_column_text]<\/div> <\/div> <\/div><\/section>\n","protected":false},"excerpt":{"rendered":"[vc_column_text] The Philippines has one of the fastest-growing economies in the world. Back in 2019, governing agencies such as the International Monetary Fund, Asian Development Bank, and the World Bank stated that the nation\u2019s economy would grow faster compared to other neighboring countries like Indonesia, Malaysia, Thailand, and Vietnam. The year 2020 will be no [...]","protected":false},"author":6,"featured_media":22682,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[76,82],"tags":[79,80,91,92],"aioseo_notices":[],"yoast_head":"\nWhy Investors Should Take Advantage of Cebu\u2019s Growing Economy and How - Cebu Recruitment<\/title>\n<meta name=\"description\" content=\"Here are five reasons why investors should take advantage of Cebu\u2019s growing economy. Looking for a recruitment firm in Cebu? 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