Queen City of the South still brimming with bright prospects
Cebu province is a vibrant investment hub brimming with history, tourism, and boundless opportunities. Its capital, touted the “Queen City of the South”, is the country’s eighth wealthiest city, with assets of over P30 billion, and was ranked as the 13th most highly urbanized city in the Philippines in 2023.
Major industries
The Philippines’ second largest economic hub is driven primarily by industries like agriculture, fishery, and tourism.
Tourism, in particular, offers numerous lucrative prospects across various sectors.
This year, Cebu solidified its position as a prime destination for meeting, incentives, conventions, and exhibitions (MICE) through the “2024 Padayon Cebu: Tourism Forum”, which was attended by over 150 business leaders, travel and tour industry stakeholders, entrepreneurs, hoteliers, government, and media.
The forum looked into the importance of tourism and the different aspects that could be further improved on to bring in more opportunities as well as usher in economic growth, technological advancements, infrastructure development and youth entrepreneurship.
Natural attractions
Cebu’s unique topography lends itself to this prospect nicely, giving tourists access to mountains, seas, and other natural sites like rivers, waterfalls, springs, and caves.
One of its main attractions is the Budlaan Falls, a hidden paradise famous among local trekking enthusiasts and guests who get enthralled by its lush green valleys and mountains, as well as the sparkling waterfall.
The San Vicente Marine Sanctuary in Olango Island is another example of a rich natural site in the province, acting as an eco-tourism destination and a conservation area for fish and marine life. Islands such as Oslob and Camotes also help highlight Cebu’s pristine beaches and diverse marine life more prominently.
Cebu’s geographical location further helps boost its tourism prospects, with the Mactan-Cebu International Airport—dubbed the second busiest airport in the country—serving over 5.6 million passengers yearly. It’s a convenient gateway to Cebu and the rest of Visayas.
Festivals, rich history
Another prime draw for tourism is the Sinulog Festival, renowned as the “mother of all festivals.” Sinulog is a colorful prayer-dance held every third Sunday of January to honor the Señor Sto. Niño, which is said to have been Ferdinand Magellan’s baptismal gift to Queen Humaymay in 1521.
Its bright festivities have made it Cebu City’s main tourist attraction in the last 44 years, with this year’s Sinulog celebration drawing over 3 million attendees.
Cebu’s historical sites serve to bolster the province’s tourism, as it bore witness to some of the Philippines’ most significant moments in history. Among the famous attractions are Magellan’s Cross, a remnant of Magellan’s expedition to the country in 1521, and the Basilica Minore del Sto. Niño, the oldest church in the country and home to the Philippines’ oldest Christian artifact.
Ensuring connectivity
Infrastructure projects are also key to Cebu’s status as an important economic hub in the country, as these ensure accessibility, connectivity, and competitiveness.
Among the existing and upcoming significant big-ticket public projects are the 74-km Metro Cebu Expressway, which will serve as an alternative north-south backbone highway for the province; Cebu-Cordova Link Expressway; Mactan-Mandaue Bridge; and the Cebu North and South Road.
With its infrastructure also comes more opportunities for property development. Cebu has been touted as a viable area for real estate given the availability of land and infrastructure in the province as well as the purchasing power of residents. This year, national developers remain optimistic about Metro Cebu’s potential growth in the future, positioning it for an upswing.
‘Oasis in the city’
One such prominent development in Cebu is Avida Land’s Avida Towers Riala.
Situated in Cebu City’s bustling IT Park, Avida Towers Riala promises to be an “oasis in the city,” with over 5,000 sqm of the property dedicated to a beautiful garden called “Grand Lawn.”
It also offers meditation spaces, private gardens, and the recently launched amenity deck, which features a “passive zone” comprising meditation spots and relaxing pools, and an “active zone”, with its court and playground.
The towers meanwhile provide residents with dreamy views of Cebu’s mountainous backdrops and the vast ocean. With its exquisite natural backdrop and proximity to essential services and establishments, Avida Towers Riala successfully blends together Cebu’s illustrious environment and its blossoming urban character.
Avida Towers Riala is poised to become a thriving vertical village of over 3,332 homes by 2025.
As both a highly urbanized economic hub and a sanctuary for culture, history, and natural beauty, Cebu province is overflowing with opportunities for growth and development, esteemed not only for its past, but for its future as well.
Sources: Inquirer archives, cebu.gov.ph, cebuprovince.deped.gov.ph, philembassy.org.au, travelcebu.ph, santoninodecebubasilica.org, cebutrip.net, travelingcebu.com, cebupremierrealestate.com
