3 Reasons to Explore Cebu Business Opportunities
Cebu has been one of the key cities driving the Philippines economy ever since the 1800s being a mediator for trade goods. The improvement and modernization of infrastructure, coupled with investments in education, have contributed to the rural economy’s transformation in the country.
In Cebu’s case, development driven by property has predominantly revolved around the production of upscale residential real estate assets. With the increase in residents comes new workers and business start-ups that have been establishing themselves since 2020.
If you are thinking about starting a business in Cebu, here are the 3 main reasons why you go through with it:
3 Main Reasons to Invest in Cebu Business Opportunities
1.Emerging Entrepreneurship
A recent study shows how even college students in Cebu actively take part in growing businesses in the region. Entrepreneurship in Cebu shows to have a cumulative effect on those whose families and close friends are already engaged in business enterprises. This is because Cebu is one of the fastest growing economies in the Philippines, despite setbacks coming from Typhoon Odette or the Covid pandemic. Ranking first in the Department of Tourism’s (DOT) 2023 nationwide survey as having the best destinations according to tourists data.
Cebu’s dynamic community of startups, small and medium-sized enterprises (SMEs), and aspiring entrepreneurs are driving innovation across various sectors. The rise of online work or work from home (WFH) setup in the Philippines empowered entrepreneurs to navigate the challenges of starting and scaling a business without being limited by location.
2.New Properties
With new businesses starting in Cebu, there is now the need for more infrastructure and office spaces to accommodate the influx of new professional staff. The purchase of real estate in the developing economy of Cebu allows you to get a headstart on the property market in the city.
This has prompted lawyers in the region to expand their services to include realty and brokerage. Despite economic uncertainties, Cebu’s residential market has shown remarkable resilience. It positioned itself as one of the most appealing and expansive residential centers beyond Metro Manila.
The local government’s infrastructure projects, such as the expansion of airports, seaports, and road networks, have improved connectivity and accessibility in Cebu. These infrastructure developments not only impact the quality of life for residents but also open up new areas for development and investment.
3.Growing Workforce
Data from Harvard University shows that with its developing economy, new workers are going into their top industries such as airlines (Cebu Pacific), clothes manufacturing, BPOs and sea transportation services.
As Cebu continues to diversify its economy, the pool of skilled and talented individuals in the region is rapidly expanding. This growing workforce comprises a mix of fresh graduates from prestigious universities.
Institutions such as the University of San Carlos, University of the Philippines Cebu, and Cebu Institute of Technology University are renowned to produce top-notch graduates who are ready to contribute to the workforce.
Given the government’s stimulating the growth of emerging businesses in Cebu, now is the right time to seize the potential financial opportunities in the region. See the breakdown of economic growth opportunities in Cebu here.
Starting a Business in Cebu
As Cebu continues to solidify its position as a key driver of the Philippines’ economy, the opportunities for business ventures in the region have never been more promising.
If you want a reliable shipping partner to jumpstart your Cebu business consider Trans-Asia Shipping Lines. Trans-Asia holds a distinctive position as a Cebu-centric enterprise with unparalleled expertise in the Visayas-Mindanao region to make clients’ businesses flourish.
Contact us to help you start your Cebu business endeavors now.
