Cebu is a pleasant tropical island in the Visayas group of islands in the Philippines. Dubbed as the Queen City of the South, Cebu is known for being one of the favorite tourist destinations in the Philippines and even in Asia. Other than that, it is seen to be a fast-growing favorite among real estate investors, particularly in its capital, Cebu City. Let’s learn why it’s great to invest in Cebu.
Booming economy
Next to Metro Manila, Cebu City is the second largest business district in the Philippines. Located in the middle part of Cebu Island, Cebu City houses export processing zones, industrial parks, business parks, information technology (IT) parks, and large malls where many small to large business establishments are located. According to a 2014 report by Tholons, Cebu is ranked number 8 among the top 100 outsourcing destinations in the world.[1] For the past 5 years, Cebu City’s export growth rate of almost 20 percent is also higher than that of the entire country and other regions in the Philippines[2], making it a very attractive city to invest in. Cebu is also a home to various business establishments that attract people from different regions in the Philippines to look for a job, work, and eventually live in.
Accessibility
Located at the heart of the Philippine archipelago, Cebu is accessible by boat and by plane through their International port located at Cebu City and the international airport at Lapu-lapu City that is just 30 minutes away from the capital. In the Philippines, Cebu is the most accessible region with more domestic linkages, both sea and air than Manila. It is also considered the gateway for the Central and Southern Philippines.[3] Being accessible by both sea and air, both local and foreign investors would find it easy to travel in and out of Cebu when needed.
Thriving tourism
Tourism in Cebu has been flourishing. In fact, in 2013, it was named as the 3rd Best Island in Asia by the Conde Nast Traveller Magazine. It took a great leap from being number 7 in the year 2012. The beautiful beaches, the great food, the great entertainment destinations, and most especially the friendly people of Cebu all contributed to being a favorite island destination by many local and foreign tourists. With the great-performing tourism industry, Cebu will always be a promising place to invest in.
Increasing number of residential developments
Residential developments have significantly increased over the past few years. Subdivisions and condominiums have been emerging. In fact, Cebu City has become the number one condominium haven in the Philippines. The increasing population, the influx of both local and foreign investors, the business and employment opportunities, and the improving economy of Cebu, have all contributed to this city’s residential developments. This condition has attracted more business-minded people, those looking for employment, and other residents alike to invest and even live in Cebu.
Pleasant weather
Cebu generally enjoys the same pleasant climate as the rest of the Philippine islands, making it a great destination for expats, as well as local and foreign retirees. It enjoys the sunny and great weather on the months of January, February, and December. It is coolest in January, hottest in May, driest in April, wettest in September, and rainy from June to December.[4]
Competitive educational establishments
Cebu offers competitive schools for elementary, high school, and college levels that students from neighboring islands in the Visayas and Mindanao actually travel to Cebu to study, especially for the college level. Competitive and prominent college schools in Cebu that offer wide choices of courses include University of San Carlos, University of the Philippines-Cebu, Cebu Doctor’s University, Cebu Institute of Medicine, Cebu Normal University, University of San Jose-Recoletos, University of Cebu, and more. Cebu also has a film school called the International Academy of Film and Television. It is also a home to some accredited international schools whose diplomas are accepted in most countries around the globe.[5]
So why invest in Cebu? The answer is simple – because it is a very promising city that will make your investments all worth it.
Sources/Links:
1 http://www.tholons.com/nl_pdf/Whitepaper_December_2013.pdf
2 http://capitol.tugkaran.com/why-invest-cebu/
3 http://capitol.tugkaran.com/why-invest-cebu/
4 http://www.weather-and-climate.com/average-monthly-Rainfall-Temperature-Sunshine,Cebu,Philippines
5 http://en.wikipedia.org/wiki/Cebu#Education