📖 About Cebu

Cebu is the economic powerhouse of the Visayas and the Philippines' fastest-growing region, expanding 7.3% for two consecutive years (2023-2024). In 2023, Cebu Island's economy reached the trillion-peso milestone with a GDP of P1.01 trillion—combining Cebu Province and the highly urbanized cities of Cebu, Mandaue, and Lapu-Lapu, which together contribute 73% of Central Visayas GDP.

The IT-BPM sector employs over 121,000 professionals with revenues of $32.5 billion in 2022. The return of major events—including the opening of SMX Cebu and the convention center at Mactan Newtown—is bolstering trade and tourism. The Philippines projects 8.3 million tourists in 2025, a 38.4% year-on-year increase, with Cebu positioned to benefit from its attractive destinations and strategic location.

Energy remains a critical factor for continued growth. PCCI Vice President Melanie Ng noted that power costs and reliability are first questions from new businesses. The Cebu Chamber of Commerce formalized the Power Alliance in January 2025 to coordinate with distributors and generators. AboitizPower is upgrading its 340-megawatt Therma Visayas plant to a smart power plant, adding 150MW capacity.

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💼 Economy & Culture

Cebu's P1.01 trillion economy spans tourism, real estate, manufacturing, and the IT-BPM sector. Finnish manufacturer SAWO expanded its Mactan Economic Zone operations by 4 hectares, now the largest locator with 5.5 hectares, exporting Made in Cebu products to 80+ countries. The Cebu Industrial Summit 2025 highlighted the province's growing role in Philippine manufacturing. Cebu leads national shipbuilding with 22 of 124 facilities.

Cebuano culture blends Spanish colonial heritage with indigenous and Asian influences. The Sinulog Festival each January draws millions celebrating the Santo Niño. Cebuano cuisine features lechon (roast pig), sutukil seafood, and dried mangoes. The warm, entrepreneurial Cebuano character drives business culture. Blue economy potential—with 80% of Philippine inter-island shipping capacity—represents future growth opportunity.

📜 History

Cebu was the site of first European contact when Magellan arrived in 1521, planting the cross that stands today. The Spanish established their first permanent settlement in 1565 under Miguel López de Legazpi. Cebu City became the Philippines' first Spanish capital before Manila. The Basilica del Santo Niño and Fort San Pedro remain from this founding era.

Twentieth-century Cebu developed as a trading and manufacturing center. The IT-BPM boom transformed the economy in the 2000s. Today's Cebu leads the Philippines in regional growth, combining historical heritage with modern industry. The 2025 challenges—particularly energy capacity—will determine whether Cebu can sustain its position as the nation's fastest-growing economic powerhouse.