Ekonomiya[baguhin | baguhin ang batayan]

Ang "Ceboom", pinaghalong salitang "Cebu" at "Boom", ay ginagamit upang tukuyin ang pag-unlad
ng ekonomiya ng lalawigan. Kasama ng maraming magagandang kapuluan, mga dalampasigang
may puting buhangin, mga magagarang hotel at mga resorts, mga pook bakasyunan at mga pook
pangkasaysayan, ang mataas na pagdagsa ng mga lokal at banyagang turista ang nagpalago sa
industriya ng turismo sa Cebu. Nanatiling may malaking bahagi ang Cebu sa mataas na bilang ng
turista sa Pilipinas, at nagiging daan pangturismo para sa iba pang mga pook pangturista sa Gitna at
Katimugang bahagi ng Pilipinas, dahil sa lokasyon nito.
Tinatayang 80% ng mga tagapamahala ng mga panglokal at pambayagang mga barko at
tagapaggawa ng barko sa Pilipinas ay matatagpuan sa Cebu. Ang industriya ng paggawa ng barko
sa Cebu ang naglagay sa Pilipinas sa ika-apat na pinakamalaking bansang gumagawa ng barko sa
buong daigdig.[7]

https://tl.wikipedia.org/wiki/Cebu

FOLLOWING the mild slowdown towards the latter part of 2018, business leaders in Cebu
remain excited about the growth Cebu will achieve in 2019.

Big ticket meetings, incentives, conventions and exhibitions (Mice) in the tourism front,
continued growth in the information technology-business process management (BPM) space,
real estate explosion, a tamed inflation rate, and election-related spending, among others, paint a
promising future for the local economy.

“We are optimistic about what’s going to happen in 2019. We need to build on the momentum
we started in 2018,” said Stanley Go, president of the Mandaue Chamber of Commerce and
Industry (MCCI).

He described 2019 as an “action year” for Cebu on the back of big-ticket events of which the
province is the host destination and the continued tourism boom that’s going to further lift
Cebu’s economy.

Per sector outlook

Department of Tourism 7 Director Shahlimar Tamano said Cebu will play host to big-ticket Mice
activities—Pacific Asia Travel Association (Pata) Annual Summit 2019, Routes Asia 2019, and
Capa LCC Summit 2019—which are opportunities to highlight Cebu’s potential in the global
travel and tourism map.

Cebu IT BPM.Organization (Cib.O) managing director Wilfredo Sa-a Jr., on the other hand, said
2019 will be an exciting year for the IT-BPM industry with existing players getting busier
looking for areas where they could expand.

“There will be continued growth in the industry, which means more employment to generate,”
said Sa-a, although he admitted that they don’t have indicators yet of new players coming in to
Cebu.

As for the retail sector, Robert Go, president of the Philippine Retailers Association-Cebu
Chapter, expects a continued trend of 2018. He noted that inflation may drop between four to 4.3
percent but the currency exchange may remain volatile at P51 to P58 to US$1.

“With high inflation, consumers are starting to relocate their funds and focus on their spending
on basic necessities. Purchasing power decreases due to inflation and a weaker peso,” said Go.

Following a gloomy year, Philexport Cebu executive director Fred Escalona hopes 2019 will be
a better year for the export industry.

“If the ceasefire will turn out positive, then we can see a global recovery,” said Escalona,
referring to the US-China trade war that has resulted in market jitters.

Issues to face

Escalona also cautioned about domestic issues like the government’s tax reform program, excise
taxes, and anti-business pressures that may affect the export performance this year.

“In 2017, we were hoping that 2018 would be a better year. We were even optimistic that there
would be a big improvement, but the results were otherwise. I hope that we will be on the
winning side this 2019 by diversifying and through introducing innovative products,” said
Nelson Bascones, president of Philexport Cebu.

“I just hope 2019 will be better,” he added.

Opportunities also abound for real estate players this year.

“Cebu should continue to reap its share of Chinese investments strengthened by Premier Xi
Jinping’s recent visit. Build, Build, Build projects would accelerate and election-related capital
spending would peak in the first half. Inflation would be contained. The momentum would
continue for middle- to high-end developments in real estate, tourism and the logistics sectors,”
said Marcelino Mendoza, president of the Organization of Socialized and Economic Housing
Developers of the Philippines.

One major challenge for this year is the scarcity of labor in the construction industry on the back
of the accelerated developments both in the private and the public sectors.

Anthony Gerard Leuterio, founder of Filipino Homes, said more projects will be launched in
2019. He also sees more serious foreign buyers who will buy Philippine properties this year.
Developers, on the other hand, will continue to expand their footprint outside Cebu, taking
advantage of the infrastructure projects of the government which are spread across the country.
Demand for office space will continue to rise next year as business and IT-BPM players expand
operations.
Leuterio, however, warned of the rise in interest rates this year, which could affect buying
activities as well as the removal of some perks under the second package on the government’s
tax reform program that may affect pricing of real estate properties.

Election 2019

Spending, however, will get a boost this year due to the May elections.

The Cebu Chamber of Commerce and Industry’s (CCCI) outlook for 2019 is that more money
will be spent in the short term.

“2019 is an election year. That means more money will be spent. It’s good for business... You
see an increase in spending but only for a few months,” said CCCI president Antonio Chiu.

Business owner Glenn Anthony Soco, who is also the former president of MCCI, expects a
steady growth for the year although market volatility will continue for both internal and external
fronts.

“Certain sectors will benefit from this, but the upcoming elections will help pump-prime the
economy this year,” he said.

Soco said competitiveness will remain to be the key factor that will shape the businesses this
year. He advised his fellow entrepreneurs to not only be competitive in terms of price, but also in
other business aspects such as product quality, after-sales service, and in adapting to the new
trends.

The Bangko Sentral ng Pilipinas (BSP) earlier said the upcoming mid-term elections will have
no or little impact on the movement of consumer prices.

“We expect high spending in the first and second quarter of the year, but it will only have
minimal impact on inflation,” said BSP Deputy Gov. Diwa Guinigundo, adding that they have
already factored the 2019 elections in the inflation forecast for the year.

https://www.sunstar.com.ph/article/1780823

“Queen of the South” and “Tourism Gateway for Central and Southern
Philippines” are only two of the nicknames given to Cebu City for constantly
holding its place in the top lists of developing economies in the country.

Regional and economic growth in the south has never been this apparent, and
indeed, Cebu is on the rise as the country’s alternate metropolis. More
businessmen are locating themselves in Cebu and it seems that business
process outsourcing (BPO) industries, tourism, information technology (IT),
creative industries, and having a talented workforce are contributing to Cebu’s
growing economy.

Having a history of being the center of trade and commerce even in the old
days, Cebu has maintained its economic activity, even opening the opportunity
for more developments in the south. For several years now, Cebu has been
seeing a rapid and strong regional growth.

It holds the record for being the biggest contributor to the country’s gross
domestic product (GDP) from Central Visayas and is expected to contribute
more as it learns to tap and utilize its strengths in its economic drivers.
Analysts expect economic growth in Cebu to continue as it pursues and
sustains the economic momentum that it is now experiencing.

Economic Drivers In Cebu

Business in Cebu has been strengthening over the years, and it is now the
second largest metropolis and one of the strongest local economies in the
country. It had started from BPO industries, but the business activities of local
and multinational companies operating various capacities has now expanded,
from call centers to IT development, accounting, legal work, and many
more. There are a lot of BPO industries that has already been set up in Cebu,
but it is still expected to soar in the coming years.

One contributing factor of growing businesses in Cebu is that most property

companies that operate in Cebu have their origins in Manila. Many big
properties previously located in Manila has now moved to Cebu with the hopes
of business growth, and they are not likely to be disappointed.

Businessmen and investors are now locating themselves in Cebu, gaining total
advantage of the economic zones in the city which are boasting world-class
facilities, with business incentives that are attracting more investors, like tax
holidays, exemption from export tax, simplification of custom procedures, and
many more. This has helped with Cebu’s economic growth and why they have
been boasting an excellent economic track record for several years now and
still counting.

Tourism is also one of Cebu’s most significant economic drivers. The upgrade
of Mactan-Cebu International Airport and constructions of first-class hotels and
resorts in Mactan are being anticipated as they will surely deliver world-class
facilities and services that will demonstrate the warmth and hospitality of the
Cebuano people. In the tourism sector, private sector is fueled by Filipino
capital, and luxury hotels with foreign capitals have local partners.

Activities like the annual Cebu Business Month (CBM), the flagship project of the
Cebu Chamber of Commerce and Industry (CCCI) and which is celebrated in the
month of June every year, also helps promote, inspire, and attract more
business by giving the opportunity for various stakeholders to gather and talk
about events related to Cebu’s main economic drivers, including but not limited
to tourism, information and communications technology-business process
management (ICT-BPM), entrepreneurship, and creative industries.

Professional & Talented Workforce

It cannot be denied as well that Cebu is fronting a talented workforce who are
college educated, specialized in their skill set, and highly trainable.

Cebu is now home to thousands of employees working in restaurants, hotels,

housing developments, and the likes. They are behind all these active
businesses, contributing to the creative industry of the city, and making Cebu
one of the country’s source of world renowned artists and designers, especially
in the furniture industry.

There was once a time when Cebu was forced to buy expensive quality imports,
but now, they have the capability to process home-made goods that they can
even export to reach the rest of the country.

An Ideal Location For Businesses

The livability of the area in Cebu can make other provinces and cities envious as
it becomes an ideal location for the metropolitan necessities. It is now known
not only all over the country but also in all of Asia that Cebu is one of the most
liveable cities.

It can now be considered as an alternate metropolis, and more people—

businessmen or ordinary citizens— are getting attracted to try out their luck in
the city as more opportunities are being opened. It is an ideal place for ordinary
citizens and businessmen as the area is not prone to natural disasters: it is not
in the earthquake zone, not within typhoon belt, and free from volcanoes. It
also holds the best records for peace and order in the whole country.
The geographical location of Cebu also makes it accessible to both foreigners
and natives: its air, land, and sea connections are easily accessible by
foreigners and natives alike. It is encouraging migration— opening
opportunities not only for people, but also for knowledge transfer and
technology.

https://balikbayan.asianjournal.com/business/the-economy/cebu-city-its-rising-economy/