Cebu City at a glance
Cebu City has always been an integral part of the thriving economic activities and progress in the Visayas. Recognized as the oldest city and first capital of the Philippines, Cebu City boasts of a rich cultural heritage and long history of industrial development. From being a bustling trading port, Cebu City is now one of the most dynamic, highly urbanized cities in the country.
PROPERTY INVESTMENT HUB
As the capital and largest city of Cebu province, the richest province in the country for nine consecutive years, Cebu City remains an attractive property investment hub and one of the largest residential centers in the country outside Metro Manila.
The city caters to almost a million residents and is home to some of the best universities and major hospitals in the country. Many top companies, both local and international, have also branched out to Cebu City because of its steady progress, infrastructure and availability of skilled workers. Its key industries like manufacturing, tourism, and services are also consistently thriving, providing quality employment opportunities for the province. With all these, the city is able to sustain growth, remaining to be an attractive choice for investment and business activities in the region.
8TH WEALTHIEST CITY
In 2022, the Commission on Audit named Cebu City as the eighth wealthiest city in the country with assets worth P30 billion. Cebu City is one of the only two local governments outside of Metro Manila in the list of top 10 richest cities, the other being Cebu’s Mandaue City.
In 2023, Cebu City also placed first in the most improved rankings for highly urbanized cities across the Philippines. Overall, it ranked 13th, better than the 24th place it held in 2022. The rankings of the cities and municipalities are based on the sum of their scores on four pillars namely economic dynamism, government efficiency, infrastructure, and resiliency.
In terms of infrastructure, roads connecting the city to other locales within the province are being improved further for the benefit of the people of Cebu.
For example, the Cebu-Cordova Link Expressway (CCLEX) improved accessibility in the city and lessened transport setbacks to nearby municipalities. CCLEX opened to motorists in 2022 and on a daily basis, it caters to almost 17,000 users during weekends and around 12,000 to 14,000 users on weekdays according to its management.
Other upcoming projects that will benefit Cebu City include the Metro Cebu Expressway and Cebu Bus Rapid Transit.
Meanwhile, the Mactan-Cebu International Airport (MCIA), which serves close to 5.6 million passengers yearly, also provides a convenient gateway to Cebu and the different regions in Visayas.
BUSTLING TOURISM
These infrastructure developments are also essential in further elevating the already bustling tourism industry of Cebu City. Many are drawn to this city for its beautiful destinations, well-preserved historical and heritage treasures, and famous culinary offerings.
Cebu City’s Tourism Office reported that from January to September 2023, the city has already recorded over 2 million guests, both local and foreign visitors. It was a notable growth from the estimated 1.06 million visitors in 2022.
The city boasts of many activities to experience and cultural places to visit, from its museums, beautiful highlands to its modern lifestyle malls. It can also serve as a jump off point to the stunning, worldclass beaches and islands of Cebu province. Industry experts report that there are more than 140 hotels in Cebu City alone with at least eight major malls. And there is potential for more expansion as tourism remains a booming industry in the city and a lot of untapped markets to service in the future.
Cebu City is a place with endless possibilities. Its people and local government are confident that it can grow to be one of the most sustainable and progressive cities in the world. Cebu City is a city that is satisfying to experience and to live in.