Cebu: the right city for your business

For years, most investors would prefer to develop their business only in Manila and other parts of Luzon, as the cities in this area are more urbanized compared to other provinces in the Philippines. Other than that, cities in Luzon are more populated than cities in Visayas and Mindanao. It is a fact that cities like Cebu, Davao and Tacloban are a bit behind the entrepreneurial trend that has been going on for years in Manila and other cities in Luzon. However, that was the situation a few years ago. Currently, these cities are catching up with the major cities in Luzon.

Focusing on Cebu, we can no longer deny that it is now Manila’s closest rival. Currently, its economy is growing at a fast pace despite the economic crisis. It is the second most popular city in the Philippines after Manila. Cebu has a lot to offer and should not be taken for granted. As the years have gone by, Cebu has continued to progress, and based on the speed at which it is progressing, stopping is still in doubt. Those who left Cebu in the 1980s and 1990s may find it quite different once they see Cebu today. Many old buildings have been torn down or renovated to provide enough space for new businesses. IT parks and commercial buildings have sprouted like mushrooms. Beaches and virgin lands are renewed to make way for the construction of spas and new subdivisions. Catering to both locals and foreigners, many things have been done to make Cebu globally competitive.

Since Manila is the capital of the Philippines, it is only natural that investors, both local and foreign, decide to build and start their business there. This is probably one of the many reasons why many people flock to Manila, thus increasing its population. An increase in population can mean more consumers, but it can also mean less land and space to set up your business. Apart from that, you will also have to deal with many competitors. Because of this, investors have now set their sights on a very promising city and that is Cebu.

One of the many features that Cebu can boast of is its accessibility. For years, the people of Cebu have worked hard to make this city accessible to everyone, including foreign investors. If you are an investor visiting Cebu, then you don’t have to worry about getting there because you can get to Cebu by air or by sea. The international airport handles both domestic and international flights, while the port of Cebu is open to both local and international shipping. When it comes to importing products from neighboring islands, time and cost will not be much of an issue, as Cebu has a seaport with quality sailboats every day. If you want to make business trips in the Philippines or abroad, the international airport will take you wherever your destination is.

In relation to the easy accessibility, many tourists have been coming to the city for years. The constant influx of visitors from other countries can certainly benefit those investors who are investing in the hotel and restaurant business, as well as in the beach resort business. Since Cebu is an elongated island, the beach is one of its main features. When you’re in Cebu, the beach can be minutes or hours away. This is probably the reason why many investors are putting their money into building beach resorts.

Cebu may not be as urbanized as Manila, the night is alive as it can be. Cebuanos have night jobs and other stores are open to serve the needs of these people during these hours. Cebu is alive 24/7. Whether people are working or partying at night, businesses in Cebu don’t need to close for the night. This means that making a profit is all day.

Business in Cebu is booming. This is due to a host of factors that have come together to make Cebu the new commercial hub in the Philippines. In fact, the region is considered to be one of the top major destinations for the outsourcing industry. The growing number of different IT parks and business process outsourcing or BPO companies are evident, even foreign investors are confident that their business will surely grow in Cebu. More and more shopping malls have been built, indicating that investors believe in the purchasing power of the Cebuanos. Small businesses and large businesses alike have been established and are continually growing.

Don’t waste your time now while others count your winnings. If you want to get rich, invest in a business in Cebu now.