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Economic Situationer

Economic Situationer. Central Visayas. 2012. SECTORAL SHARE OF GRDP. 2012 Performance. Central Visayas economy grew faster in 2012 with impressive performances of key industries:. tourism. business process outsourcing. retail trade. construction.

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Economic Situationer

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  1. Economic Situationer Central Visayas 2012

  2. SECTORAL SHARE OF GRDP

  3. 2012 Performance Central Visayas economy grew faster in 2012 with impressive performances of key industries: • tourism • business process outsourcing • retail trade • construction … and positive performance of exports

  4. Central Visayas is among the fastest growing regions in PHL fastest in 2010 12.5 % fastest in 2011 9.6 % GRDP Growth Rate second fastest in 2011 7.9 % Top 5 in 2010 • Central Visayas (VII) – 12.5% • CALABARZON (IVA) – 11.1% • Central Luzon (III) – 10.7 % • Metro Manila (NCR) – 7.6% • CARAGA (XIII) – 7.4% Top 5 in 2011 • CARAGA (XIII) – 9.6 % • Central Visayas (VII) – 7.9% • Central Luzon (III) – 7.5 % • Western Visayas (VI) – 5.5 % • Cagayan Valley (II) – 5.4 %

  5. Tourism expanded further Percentage Increase in Total Visitor Arrivals: Central Visayas 2006- 2012 Global Financial Crisis ASEAN Summit Source: DOT Regional Office 7

  6. Revenues in BPO surged 516.8 M 424.2 M 21.8 % 333.6M 27.2 %

  7. Retail trade benefited from booming tourism & BPO industries • Opening up of new shopping malls • Manila-based retailers setting up shop (i.e. Seven-eleven and Mini Stop) • Expansion projects of SM and Ayala Center

  8. Construction sector upbeat Number of New Construction Projects2011- 2012 Source: National Statistics Office

  9. Exports turned in positive performance Value of Exports and ImportsJanuary to July: 2011 & 2012 Source: National Statistics Office

  10. Challenges • Agriculture was not able to sustain growth in 2011 • Better performance of the economy did not make a significant impact on labor market • employment rate lower for most part of 2012 • underemployment slightly up; breaching 20 percent mark in 2012 • Central Visayas’ inflation rate was highest among the regions in the country at 5.1%

  11. Good Day!

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