Cagayan de Oro City in Lagazpi, Leyte is one of the major cities in the central Philippines. It has long been a center for economic activities in the region as it is home to the Philippine Stock Exchange, and the Bank of the Philippine Islands (PCI). Aside from these, this city also boasts of major corporations that make it an ideal location to develop a new economic center for the nation. The city boasts of many economic activities that contribute to the economy and the development of its people. This will allow it to achieve economic growth, as well as employment opportunities for the thousands of workers employed in the city. This in return, will create a more dynamic economy for both the government and the business sectors.
Although there are many reasons why the city is an economic development hotspot, the main contributing factor to its economic growth is tourism. The city receives millions of visitors every year that come here for a variety of different reasons. Businessmen from different countries come to the city to establish their own companies or invest in business ventures. There is even a movie being released in theaters around the country about the promising economic growth in the city. The tourism is the number one contributor to the overall economic activity in the city.
Aside from the tourism, the Cagayan de Oro city also boasts of several other industries that help it attain economic development. The city is a leader in several industries such as sugar cane production, coffee, pineapple, rubber, gold mining, and others. These industries are not only significant to the economic development of the city, but also contribute to the standard life of the people.
Education is another significant factor in the economic growth of Cagayan de Oro city. There is a high demand for education among the people, particularly the children who attend public schools. The presence of large numbers of schools in the city makes it easy for parents to send their children to school. Also, the presence of well-trained teachers makes learning more appealing to students. The Cagayan de Oro State University is also one of the highly regarded educational institutions in the area.
Another important element in the economic growth of Cagayan de Oro city is the presence of many hospitals and health centers. The presence of these medical facilities enables those who are experiencing frequent illnesses and injuries to receive appropriate attention. The presence of modern medication also allows those who are experiencing diseases and ailments to overcome them. These medical facilities are very essential in making the lives of the residents in the city better. The presence of an airport also enables those living in Cagayan de Oro to fly to other places. The availability of airport services allows those living in the area to attend to emergencies in their own time and make travel much easier for them.
All in all, the economy of Cagayan de Oro is growing by leaps and bounds. It is a testament to its excellent planning and management practices. It also highlights the remarkable progress being made in terms of infrastructure development. It is evident that the head of government is determined to address the issues . . . . . . concerning poverty and other social issues affecting the Cagayan Basin. With its promising economic outlook, it will be a good idea to invest in Cagayan de Oro now rather than waiting until it becomes vulnerable to problems.