By Fayette C. Ri�en
CEBU CITY, Feb 25 (PIA) -- The
economy of Central Visayas continues to be one of the fastest in the country
today backed by statistical data of its Gross Regional Domestic Product (GDRP)
in the past two years.
In 2010, the GDRP was the highest in the country at 12.5 percent while in 2011,
Central Visayas posted a growth of 7.9 percent states a report from the
National Economic and Development Authority (NEDA) 7; these were higher than
that of the national GDP average at 3.6 percent and 7.6 percent, respectively.
Although the National Statistics Coordination Board has yet to release its 2012
economic report for the country, a top official of NEDA 7 expressed optimism
that the region will again post positive GDRP growth last year.
NEDA 7 Assistant Regional Director Efren Carreon earlier said that if previous
trends are to serve as bases, then Central Visayas’ GDRP will again exceed the
national average GDP growth of 6.6 percent.
Last year, the country’s GDP for the first three quarters or the past nine
months grew by 6.6 percent as Carreon disclosed they are confident Central
Visayas posted a high growth in 2012 based on the past two years’ GRDP
statistics.
Growth in the region was largely driven by the industry sector particularly in
construction at 21.5 percent and the service sector especially the real estate,
renting and business activities which posted 10.9 percent, the NEDA 7 GDRP
report shows.
Carreon further said that 17 new foreign business process outsourcing (BPO)
firms opened in Cebu, largely from the non-voice sector based from a report of
the Cebu Investment Promotions Center (CIPC) while existing BPO companies
expanded its operations employing more workers in the region.
According to the CIPC, the BPOs sector in Cebu alone has an estimated 95,000
workers.
With high paying jobs at the BPO sector and steady remittances of overseas
Filipino workers, these have greatly contributed to the high purchasing power
of the consumers, according to Carreon.
Also posting positive growth in the region were the areas of tourism, aviation,
shipping and exports, the same NEDA 7 report bares. (PIA 7)