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Cebu Chamber proposes a PHP 25 million budget to boost investment and tourism

how to buy property in cebu

The Cebu Chamber of Commerce and Industry (CCCI) has put forward an ambitious proposal, requesting a budget of at least ₱ 25 million ($425,000) from the Cebu City government. This budget aims to bolster Cebu’s image as a premier investment and tourism destination. The funds will primarily be used to operationalize the Cebu Investments Development Concierge Center (CIDCC) and to support a range of initiatives designed to showcase Cebu’s potential.

Four-component leadership agenda

Under the dynamic leadership of CCCI President Jay Yuvallos, the chamber has developed a comprehensive Leadership Agenda with a focus on four main components. The first component involves the launch of the “Invest Cebu Brand – Prosper in Paradise,” which aims to showcase Cebu’s unique business and tourism opportunities.

The second component emphasizes deeper community engagement to promote inclusive development. The third component centers around building active partnerships, symbolized by the slogan “Everyone Celebrates in Cebu.” Finally, the fourth component aims to cultivate a culture of innovation and creativity across various sectors, including trade, industry/manufacturing, and IT-BPM (Information Technology-Business Process Management).

Benefits for Cebu’s tourism sector

The proposed budget and its initiatives have significant potential for the tourism sector, particularly for property, restaurant, and hotel owners. By promoting Cebu as a top-tier destination, these initiatives are expected to attract more tourists, increasing the demand for accommodations, dining, and leisure activities. This could lead to a surge in occupancy rates and property values for owners who rent or sell property to tourists. Additionally, restaurant and hotel owners are likely to benefit from a higher influx of tourists, resulting in increased revenues and opportunities for business expansion.

The establishment of the CIDCC is designed to simplify investment processes and provide vital support to businesses. This concierge center will offer personalized services to investors to assist them in navigating the local market and taking advantage of opportunities. For those in the tourism industry, this means improved access to resources, enhanced marketing strategies, and more efficient business operations.

Proposed budget presents opportunities for real estate investors

For those looking to invest in real estate in Cebu, this proposed budget presents a golden opportunity. The emphasis on branding and marketing Cebu as a haven for both business and leisure is expected to increase property values. Investors can anticipate a strong return on investment as the demand for residential, commercial, and hospitality properties rises.

The chamber is dedicated to promoting innovation and inclusivity, which will make Cebu an even more appealing destination for real estate investment. The upcoming innovation hubs and the support for micro, small, and medium enterprises (MSMEs) will help create a dynamic business environment, fostering entrepreneurial activity and driving economic growth. As a result, this will stimulate the real estate market as businesses search for office spaces and employees seek residential properties.

Commitment to transformation and collaboration

Jay Yuvallos leverages his extensive experience and network to lead the Cebu Chamber of Commerce and Industry toward transformative progress. His vision includes changing mindsets, fostering dynamic partnerships, and bolstering micro, small, and medium enterprises (MSMEs) to position Cebu as a center of prosperity. By promoting progressive branding, inclusivity, and collaborative innovation, Yuvallos aims to create an environment where both local and foreign investors can thrive.

The commitment to transformation is not just rhetoric; it is supported by concrete plans and actions. The CCCI’s initiatives aim to ensure that Cebu remains competitive and attractive to investors from around the world. This provides foreign investors with a stable and supportive environment where their investments can flourish.

A promising future for Cebu

The proposed ₱ 25 million ($425,000) budget by the Cebu Chamber of Commerce and Industry is a strategic move to enhance Cebu’s investment and tourism appeal. This budget could lead to increased property values and higher demand for current property owners. For those in the tourism sector, these initiatives promise more business opportunities and growth. Additionally, for potential real estate investors, Cebu presents a promising market with the potential for significant returns. Cebu is positioning itself as a hub of innovation and prosperity, making it an ideal time to explore investment opportunities in this dynamic region.

Your guide to buying property in the Philippines

Written by Matt Timmermans

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