Cebu is the city of Cebu Philippines. It is known as the Queen City of the South. It is one of the popular tourist destinations in all the Philippines for foreign tourists. Cebu has the largest seaport in the Philippines. It is the fastest growing large city in the nation with an annual growth of 5% per year.
The BPO (business process outsourcing) boom. Part of the Philippine progress in the BPO industry expanded to Cebu from Metro Manila as the industry sought more qualified labor resources for its requirements.
The minimum wage rate which is for Cebu is around 37 percent lower than that of Manila. They require workers with a college education, who possess high skills or at least very trainable skills. For this, they pay a high entry wage.
The major universities and training institutes banded as an Educational Development Foundation group to promote the further improvement of its human resources in relation to the industry need.
Many ongoing real estate constructions such as hotels/resorts, condominiums, super malls, BPO’s, schools and hospitals are now spreading in different areas of Metro Cebu. And the SM Seaside City Cebu is the largest mall in the Philippines and the 4th largest Worldwide. With all the beaches and the great singers of the Philippines collide. Cebu will grow more and known to its economy and industry.
This is probably one of the reasons why numerous investors are rushing to get their hands on real estate that they can rent out. There is a catch though when you are a foreign investor wishing to purchase property in the country – you can’t, unless if you are married to a local, or you are running a company that is 60% owned by locals.
Tourism: Foreign and domestic. Tourist visitor comes over to Cebu region has been growing at double-digit rates, creating and expanding demand for hotels and resorts.
Tourist arrival statistics to the Central Visayas is now close to three million, well in hand in expectations. For years, Cebu’s visitors were domestic tourists. Foreign tourists are beginning to account for more visitors.
Other reasons why to invest in Cebu real estate properties are the following:
- Cebu is a good place to showcase how well the country’s economy has done. Six manufacturing zones with 278 locators; $3.5 of goods exported last year; 139 outsourcing companies that have employed 95,000 workers.
- More than 10,000 jobs were created by the BPO firms that came to Cebu last year alone. This is according to Cebu Investment Promotions Center.
- Ranked 8th among the Top 10 Asian Cities of the Future. Reported by Foreign Direct Investment Magazine of the Financial Times Group.
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Beautifully written. I lived in Cebu for 4 years and I am still missing everything about Cebu to bits! 3 years na din d nkakabalik! Yey! Thank you for this!
I started the recruitment of a BPO firm in Cebu a couple of years back and indeed the level of dedication to work and English language skills is even better than here in Manila.
A lot of investors are indeed looking at building businesses there.