SINCE President Rodrigo R. Duterte became president, the city’s economy and investment skyrocketed along with the interest of Filipinos and foreigners on Davao City.
In 2016, the gross domestic regional domestic product (GRDP) of Davao Region reached 9.4 percent. This increased from its original 8.2 percent GRDP in 2015.
Based on the data of the Philippine Statistics Authority (PSA), Davao Region’s growth is much higher than the national economic performance which was at only 6.9 percent in 2016. Davao Region also contributed about 4.1 percent to the national GDP in 2016. In 2015, the region’s share was only at 4 percent.
Aside from these figures, evidences of investment interests are already very much apparent in Davao City particularly that of investors coming from different parts of the country.
When Cebu Landmasters Inc., a known project developer from Cebu City, first announced their pilot condominium project, which is Mesa Tierra March of last year, the announcements of their other future projects and joint ventures immediately followed within a span of only a year.
Surely, the interest of non-Dabawenyo to invest in Davao City had spurred dramatically. Meanwhile, the Dusit Thani Residence Davao and Dusit D2 Hotel complex, one of the most premiere developments of its kind, is targeted to already be finished by 2018.
Dusit D2 is a luxury five-star hotel development that is expected to rival with its counterpart projects located at Bonifacio Global City, Makati, and Pasay City. The project is also expected to up the game and the standard of accommodation in Davao City.
Not only are the businessmen interested of the opportunities in the city. Despite the declaration of Martial Law in May 2017, tourists are still coming to Davao City fearless. This is even after there are a number of negative news and travel advisories about Mindanao and Davao in particular.
Just January of this year, City Tourism Operations Head Generose Tecson was very much elated that the city was able to reach its two million mark of tourist arrivals for 2017. She said, although there was a slight decrease of tourist arrivals for June and July, after Martial Law was declared there was an upsurge during August, on Kadayawan Festival.
The number of domestic tourists in 2017 reached up to 1.84 million, while the foreign tourists were more than 126,000 for the same year.
Truly, Davao City’s economy and tourism continue to flourish -- its name as sweet-smelling and attractive even with the negative news about Mindanao and it being under Martial Law.