THE FILIPINO WAVE
Cebu is a province, in the country’s Central Visayas region, comprising of Cebu Island and more than 167 smaller surrounding islands and islets.
Its prosperous port capital Cebu City is the country’s oldest city; it was the first Spanish settlement, and the first capital of the Philippines. It is considered the birthplace of Christianity in the Far East and is the “Second City” of the Philippines after Manila.
The real estate industry is the fastest-growing sector in Cebu. With strong economic indicators and high investors’ confidence level, more condominium projects and hypermarkets are being developed in the locality.
About 80% of domestic and international shipping operators and shipbuilders in the Philippines are located in Cebu. Shipbuilding companies in Cebu have manufactured bulk carriers of up to 70,000 tonnes deadweight (DWT), and double-hulled fastcraft as well.
Cebu’s industry helps make the Philippines the 5th largest shipbuilding country in the world.
Cebu’s extensive port facilities and its proximity to intra-Asian shipping and air routes are major factors which led multinational companies to establish offices or factories on the main island, as well as in the island of Mactan, where they are clustered in special economic zones known as the Mactan Economic Processing Zone.
Cebu has become the country’s favourite tourist destination.