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Members of the Mandaue Chamber of Commerce and Industry are optimistic about 2011′s business prospects in Cebu as the year 2010 showed robust growth from most sectors.

In 2011, more growth and investments are expected because of renewed confidence in the the new government administration.

Year 2010 was better than the previous year with a growth rate expected to hit 7 percent to 7.5 percent as the decade closes. Food, publishing and printers, fabricators of metals, construction, outsourcing, tourism, and property management were the biggest winners in that year.

However, 2011 will be a good year for all as economists foresee better performances, particularly in the export sector.

Property markets and tourism will be bullish. Cebu will be robust by natural means as it is the favorite among Asian destinations, hotels, budget carriers, and the fact that Cebu, Philippines is an English speaking region and can very well offer face-to-face hospitality.

Leadership and players in the tourism sector, however, must still do aggressive campaigns and promotions to draw more visitors, anddevelop more attractions to add excitement to a destination.

Three industries continue to drive the local economy – tourism, construction or real estate, and outsourcing.

Being an export capital, Cebu can still be competitive by innovating and trying untapped and promising markets especially in neighbooring Asian countries like India. The United States is still the biggest market but the Asian market shouldn’t be ignored by Cebu business where these are already strategically located.

Chamber members plan to go to Indonesia and Korea for international trade missions to help bring investors to Mandaue City.

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Reference:

Garcia-Yap, Aileen. “Asian markets worth exploring in 2011″. 31 December 2010. Cebu Daily News. Accessed 1 January 2011. Link Here


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