All four provinces and three highly urbanized cities in Central Visayas recorded economic growth in 2024, according to the Philippine Statistics Authority. Bohol emerged as the fastest growing economy in the region, fueled by strong rebounds in services, industry, and agriculture.
Bohol’s Economy Soars to New Heights
Bohol’s economy expanded by 8.8 percent in 2024 outpacing other provinces in Central Visayas. The services sector particularly wholesale and retail trade, transportation, and accommodation powered the growth alongside continuous recovery in tourism and local enterprises.
Cebu and Negros Oriental Steady the Region’s Momentum
Cebu Province followed with a 7.3 percent growth while Negros Oriental and Siquijor posted 6.7 and 5.2 percent respectively. The highly urbanized cities of Cebu, Lapu-Lapu, and Mandaue also saw continued progress driven by the services and industrial sectors that remain the backbone of Central Visayas’ economy.
Sustaining Inclusive Growth
The PSA noted that balanced growth across provinces signals Central Visayas’ resilient economy. As Bohol leads the charge, experts emphasize the need for inclusive policies that uplift communities and ensure that economic gains translate to more jobs and opportunities for all.
Central Visayas’ steady expansion reflects the region’s strength in tourism, industry, and entrepreneurship. With local economies thriving, the region stands as a model of resilience and recovery in the Visayas.
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