Rapid development in Cebu stirs controversy: Where is the employment growth?
In the heart of the Philippines, Cebu has been a shining beacon of economic growth. With its thriving industries in information technology, business process management, and logistics, the city has contributed a significant 14% to the national GDP in 2024. However, a closer look at the local realities paints a more nuanced picture, as expressed by Virgilio "Nonoy" Espeleta, a former president of the Cebu Chamber of Commerce and Industry.
At the Philippine Economic Briefing on September 18, 2025, Espeleta voiced concerns about the disparity between macro-level numbers and the ground-level situation in Cebu. He urged the promotion of additional projects funded through the national budget for Cebu and the Visayas, emphasising the need for growth to translate into accessible jobs, better wages, and stronger social services.
Government officials have been focusing on expanding export markets beyond traditional partners for Cebu and the Visayas. Budget officials have also promoted reforms in government procurement, claiming these will boost transparency and efficiency. Finance Secretary Ralph Recto acknowledged the challenge of sustaining this growth while ensuring it is inclusive.
Notably, finance officials have implemented reforms in tax collection, digitalization, and laws such as Republic Act 12066 (Create More Act), which have brought in P254 billion in approved investments and 67,000 jobs. The central bank has also highlighted easing inflation (1.5% in August) and growth in digital banking, with 26 million Filipinos opening basic accounts.
The economy of the country is growing at a rate of 5.5% GDP in the second quarter of 2024, with Central Visayas experiencing a higher growth rate of 7.3% GDP in the same period. Economic planners are advocating for a shift from a consumption-led economy to one driven by investment and infrastructure, which they believe could create more sustainable jobs.
Infrastructure projects such as the Bohol-Panglao Airport Public-Private Partnership and the Panay-Guimaras-Negros bridge are expected to sustain growth in Visayas. However, some Cebu business leaders remain sceptical, concerned that the economic growth is not translating into job creation and improved livelihood for communities.
As Cebu continues to grow and evolve, bridging the gap between macro-level numbers and local realities will be crucial in addressing the concerns of local business leaders and ensuring sustainable and inclusive growth.
