Few Compelling Reasons Why You Need to Invest in Ormoc and Tacloban Now

Ormoc is a first-class independent component city in Leyte province and is just 2-hours away via land travel to Tacloban City. Dubbed as the “City of Beautiful People,” Ormoc was once the “Most Business-friendly city” in the region in 2005 due to its vibrant economy, hailed by the Philippine Chamber of Commerce. Also, in 2019 National Competitiveness Council (NCC) ranking on the Cities and Municipalities Competitiveness Index (CMCI), Ormoc City ranked as the 28th most competitive component city (out of 110 cities) in the Philippines.

On the other hand, Tacloban City sits at the opposite side of Ormoc, specifically at the northeastern part of Leyte. It is considered as the busiest and most progressive city in Region 8. Tacloban is a 1st class highly urbanized city (HUC) and a regional center of the Eastern Visayas.  In an extensive survey conducted by the Asian Institute of Management Policy Center in 2010, Tacloban City ranks as the fifth most competitive city in the Philippines, and second in the emerging cities category.

Ormoc and Tacloban are the two progressive cities in Region 8 and their economic growth has been an interest to investors. Though badly battered in 2013 during Typhoon Haiyan/Yolanda, their resilience and indomitable spirit had put back slowly their economies. Currently, Tacloban City is experiencing a rapid economic bounce back, and is dubbed as the ‘rising phoenix of the East‘ surviving its challenges that once made the city classified into “ground zero.”

On Ormoc City

Ormoc is a safe and secured city

Ormoc is a safe and peaceful city, tagged as the “safest city” in the country for 2017 and in the early parts of 2018, where people are not afraid to walk along the streets at night.

Vibrant Commercial Activities

The presence of regional malls and more upcoming commercial establishments is a show of  confidence of investors to the city. Investors see Ormoc City as a prime area where they can grow their businesses which also translates to more job opportunities and more tourists in the city.

Business Process Outsourcing Destination

Ormoc is expecting a boost in investments and jobs, particularly from business process outsourcing companies, following improvements in internet connectivity in their area.

With a population of about 200,000, Ormoc is home to universities and colleges like the Eastern Visayas State University, Western Leyte College, and STI College Ormoc, to name a few which provide the employee base needed by BPO companies as they expand to provincial city centers in various parts of the country.

On Tacloban City

A Regional Center for Education

Tacloban is home to the three biggest state universities in Region 8, the Leyte Normal University, the Eastern Visayas State University, and the University of the Philippines Visayas Tacloban Campus. There are other schools in Tacloban that continually churning out a crop of fresh graduates hailing from all over the Region that makes for a rich pool of skilled technical and professional workers for a variety of industries.

A Major Tourism Hub

Tacloban City yielded the highest contribution with 472,300 tourist arrivals in 2015. This figure comprises 44.87% of the regional total tourist influx and surpassed its 2015 target by 16.72%. The City contributed the highest tourist receipts amounting to Php 4.05 billion taking almost half of the regional tourist receipts or sharing 45% to the total regional earnings generated

Banking and Finance Hub

Tacloban remains to be the banking and finance capital of Eastern Visayas. Nowhere else in the Region can you find this much concentration of banks and loan facilities. In 2011, cash deposits were up to the P42B mark, prompting the Central Bank of the Philippines to put up their impressive regional office in San Jose, Tacloban City

Prolific Commercial Activities

With the entry of Robinsons and SM, Tacloban has become the premier shopping destination in Eastern Visayas. Robinson’s Place Tacloban is the biggest shopping mall in the entire region.

Tacloban also remains to be the banking and finance capital of Eastern Visayas. Nowhere else in the Region can you find this much concentration of banks and loan facilities. In 2011, cash deposits were up to the P42B mark, prompting the Central Bank of the Philippines to put up their impressive regional office in San Jose, Tacloban City.

Anyone who wishes to live, invest, or even just visit any point in Eastern Visayas has to pass through Tacloban, whether for air travel, banking, school, health, recreation, or shopping.

Ormoc and Tacloban’s continuous development is expected for years to come. Whether you’re planning to live within Ormoc City or Tacloban City, start a business, or expand your operations, these two cities in Eastern Visayas should definitely be on top of your list.

Take advantage of this flourishing region. If you’re looking for a piece of property in Ormoc or Tacloban and its neighboring towns, Primabode Realty will be glad to be of help. Contact Us today!

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Source: https://www.primabode.com/few-compelling-reasons-why-you-need-to-invest-in-ormoc-and-tacloban-now/