Cebu City’s economy is flourishing, and the latest industry rankings reveal a surprising frontrunner. Agriculture, Forestry, and Fishing has emerged as the fastest-growing sector, recording a remarkable 15.8% real GDP growth between 2023 and 2024, according to a new study by Briefcase PR.
The analysis, based on GDP-by-industry data from the Philippine Statistics Authority, highlights how Cebu’s growth story is being shaped not only by consumer-driven services but also by the resilience of its agricultural backbone.
Service Sectors Close Behind
Accommodation and Food Service Activities followed closely with 14.9% growth, underscoring Cebu’s rising appeal as a tourism and hospitality hub. Human Health and Social Work Activities placed third at 11.3%, reflecting increased demand for healthcare services, while Professional and Business Services ranked fourth at 11.0%, signaling strong momentum in Cebu’s business ecosystem.
Other industries rounding out the top 10 include electricity and utilities, manufacturing, finance, transportation, and retail trade. The average growth across all ranked industries stood at 9.7%, painting a picture of broad-based expansion.
A spokesperson from Briefcase PR noted: “What stands out in the ranking is the strength of consumer- and service-driven growth. Accommodation and food service activities saw the sharpest increase, but agriculture, health, and business services also posted strong year-on-year growth.”
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