Cebu - The Right City For Your Business In The Philippines
For years, most investors would prefer to build their business in Manila and other parts of Luzon only, which is because the cities in this area are more urbanized compared to other provinces in the Philippines. Other than that, the cities in Luzon are more populated than the cities in Visayas and Mindanao. It is a fact that cities like Cebu, Davao and Tacloban are a bit behind from the business trend that has been in play for years in Manila and other cities in Luzon. However, that was the situation a few years back. At present these cities are now catching up with the major cities in Luzon.
Focusing on Cebu, we can no longer deny the fact that it is now the closest rival to Manila. Currently, its economy is growing in a fast pace despite the economic crisis. It is the second most popular city in the Philippines second to Manila. Cebu has a lot to offer and should not be taken for granted. As the years went on, Cebu has continued to progress and basing on the rate it's progressing, stopping is still in question. Those who have left Cebu in the 80s and 90s may find it rather different once they get to see the present Cebu. A lot of old buildings have been torn down or renovated in order to provide enough space for new businesses. IT parks and commercial buildings have sprouted like mushrooms. Virgin beaches and lands are renovated in order to pave way for the construction of beach resorts and new subdivisions. Catering to locals and foreigners alike, a lot of things have been done for Cebu to be globally competitive.
Since Manila is the capital city of the Philippines, it is only natural for investors both local and foreign, to decide to build and start their business there. This is probably one of the many reasons why a lot of people flock in Manila thus increasing their population. An increase in the population may mean more consumers but it can also mean less land and space where you can establish your business. Other than that, you will also have to deal with a lot of competitors. Due to this investors have now turned 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 checking out Cebu, then you don't have to worry about reaching it because you can reach Cebu either by air or by sea. The international airport caters to both domestic and international flights, while the port of Cebu is open to both local and international sea vessels. When it comes to importing goods from neighboring islands, time and cost will not be a big issue as Cebu has a seaport with quality vessels sailing every day. If you want to make business trips around the Philippines or abroad, the international airport will take you to wherever your destination is.
In relation to easy accessibility, a lot of tourists have been flocking the city for years now. The constant influx of visitors from other countries can certainly do well for those investors who are investing in the hotel and restaurant business as well as the beach resort business. Since Cebu is an elongated island, the beach is one of its main features. When you are in Cebu the beach can be a few minutes away or a few hours away. This is probably the reason why a lot of investors are putting their money into building beach resorts.
Cebu may not be as urbanized as Manila, night time is alive as it can be. Cebuanos have night jobs and other stores are open to cater the needs of these people during these hours. Cebu is alive 24/7. Whether people are working or out partying at night, in Cebu businesses do not need to close up for the night. This means that gaining profit is round the clock.
Business in Cebu is booming. This is due to a lot of factors that have come together to make Cebu the new business depot in the Philippines. In fact, the region is considered as one of the top major destinations for the outsourcing industry. The increasing number of different IT parks and the business process outsourcing or BPO companies are evident that even foreign investors are confident that their business will surely grow in Cebu. More and more malls have been built which is indicative that the investors believe in the buying power of the Cebuanos. Small businesses and big companies alike have been established and are growing continuously.
Do not waste your time now while others are counting their profits. If you do want to get rich, invest in a business in Cebu now.