Central Visayas is expected to sustain its growth momentum this year despite short-term disruptions from the recent 6.9-magnitude earthquake, according to the Department of Economy, Planning and Development (DepDev)-Central Visayas.
Assistant Regional Director Dr. Evelyn Nacario-Castro said while rehabilitation and reconstruction in quake-hit areas may temporarily affect productivity, these same activities are also likely to spur renewed economic activity toward year-end and into 2026.
“The tremor may have a short-term impact on our performance, but rehabilitation efforts — especially in construction and restoration of services — can drive recovery and offset the slowdown,” the official said during the Cebu Province Economic Forum 3.0 organized by the Cebu Chamber of Commerce and Industry forum in partnership with the Cebu Province.
The region, now composed of Cebu and Bohol, remains one of the country’s fastest-growing economies, expanding 7.3 percent in 2024, with a P1.28-trillion gross regional domestic product — the largest in the Visayas and Mindanao and the fourth biggest nationwide.
Cebu province, which accounts for nearly 35 percent of the region’s economy, posted the second-fastest growth in Central Visayas last year at 7.3 percent, driven by tourism-related industries such as accommodation and food services, as well as transportation, manufacturing, and business services.
However, Castro noted that international tourist arrivals have declined between the first and second quarters of 2025, which could affect tourism-linked industries if the trend continues. Still, new international flights to Mactan-Cebu International Airport later this year are expected to revive inbound travel.
Manufacturing, energy seen as new growth drivers
DepDev also expects Cebu to benefit from growing investor interest in light industrial manufacturing, as the Board of Investments continues to receive inquiries for ready-for-occupancy sites outside the highly urbanized cities.
The province’s energy sector is likewise poised for expansion, with the new solar power plant in Daanbantayan set to begin operations in 2026. This aligns with the provincial government’s push for renewable energy investment, backed by the national Green Lane Program and the Strategic Investments Priority Plan.
In the services sector, the province is seen to benefit from continued growth in medical and wellness tourism, supported by Gov. Pamela Baricuatro’s healthcare modernization program.
Agriculture, poverty, and human capital
To address African Swine Fever (ASF) concerns, DepDev 7 recommended Cebu’s participation in the pilot ASF vaccination program of the Bureau of Animal Industry to protect the province’s livestock industry — which accounts for 70 percent of Central Visayas’ production.
The agency also proposed upskilling initiatives for workers to support both the knowledge process outsourcing and light manufacturing sectors, in partnership with the academe and economic zones.
While poverty incidence in Central Visayas has dropped from 27.6 percent in 2021 to 17.3 percent in 2023, the agency said the recent quake may prompt a recalibration of the region’s target to bring poverty down to single digits by 2028.
DepDev 7 reaffirmed that Cebu and Bohol remain vital to achieving the region’s medium-term goal of 6.3–7.5 percent annual growth, as outlined in the Central Visayas Regional Development Plan 2023–2028, recently updated and approved by the Regional Development Council.
“As the Chinese word for crisis reminds us — it also means opportunity,” Castro said. “This is our chance to rebuild stronger, more inclusive, and more resilient communities in Central Visayas.” / KOC