Business process outsourcing and tourism are the two industries that will enable Cebu to recover in the current global economic downturn. This is according to economists and business leaders who took part in the recently concluded One Cebu Business Summit held at Mandaue City with surviving the economic meltdown and business recovery as the overall theme.
Cayetano Paderanga, Jr., UP Economics professor and guest at the event, said that both industries show resilience in these tough times as positive, though slower, growth continues to be seen in the province.
For the first semester of this year, Cebu had an increase of almost 9% in the number of foreign tourists who arrived in the province. On the other hand, 50,000 workers are employed in the BPO industry and there are no job losses.