Cebu has long been a symbol of economic development in Central Visayas, recognized as the “fastest growing regional economy” in the Philippines in 2023, posting a 7.3% growth in gross regional domestic product (GRDP). In 2022, Cebu City alone contributed 22.
4% of Central Visayas' GRDP, which was valued at ₱1.29 trillion. That same year, Cebu City's economy grew by 8.
4%, driven by robust expansions in neighboring cities such as Lapu-Lapu and Mandaue. The city’s relentless progress is fueled by key infrastructure projects like the Cebu-Cordova Link Expressway and the globally recognized Mactan-Cebu International Airport’s Terminal 2. Ongoing developments like the Cebu Bus Rapid Transport further enhance Cebu’s connectivity and economic appeal.
Tourism continues to be a major economic driver as it attracts local and international visitors with its strategic location, excellent transportation network, and rich cultural and natural attractions. Meanwhile, the city’s highly skilled workforce has made Cebu a top destination for IT-BPM firms and multinational companies. In 2023, Cebu captured 54% of office transactions outside Metro Manila, totaling 112,900 sqm of office space deals, according to Colliers Philippines.
The majority of these transactions came from outsourcing firms, further cementing Cebu as a prime hub for BPOs/KPOs and shared services companies. As Cebu’s economy thrives, so does the demand for world-class real estate developments to support its growi.
