Cagayan de Oro City is making waves as an economic powerhouse. Recent data released by the Philippine Statistics Authority (PSA) on March 18, 2024, has revealed that Cagayan de Oro City boasts the 2nd highest per capita Gross Domestic Product (GDP) among 17 highly urbanized cities and 82 provinces outside Metro Manila. With a per capita GDP reaching PhP 343,936, nearly double the national average, the city is emerging as a key player in the Philippines’ economic landscape.

Gateway to Northern Mindanao

As the “Gateway to Northern Mindanao,” Cagayan de Oro City serves as a crucial hub for commerce, industry, and trade in the region. Its strategic location and bustling port facilitate the seamless flow of goods and services, connecting Northern Mindanao to both domestic and international markets. This pivotal role has propelled the city into prominence, driving economic growth and development across the region.

Fostering Growth Across Industries

Cagayan de Oro City’s economic success is underpinned by its diverse and thriving industries. The city’s robust business environment has nurtured growth in sectors such as retail, manufacturing, and agribusiness. The retail sector caters to a burgeoning consumer base, while the manufacturing industry contributes significantly to local production and employment. Additionally, the city’s rich agricultural resources support a flourishing agribusiness sector, further fueling economic expansion.

Attracting Investment and Innovation

 With its impressive economic performance, Cagayan de Oro City has become an attractive destination for investment and innovation. The city’s conducive business climate, coupled with its strategic location and skilled workforce, has drawn both local and foreign investors seeking opportunities for growth and prosperity. From infrastructure projects to technology ventures, Cagayan de Oro offers a fertile ground for entrepreneurial endeavors and economic advancement.

Sustainable Development and Future Prospects

As Cagayan de Oro City continues to thrive, it remains committed to sustainable development and inclusive growth. The city’s leadership is focused on fostering a conducive environment for business, while also addressing social and environmental concerns. Through strategic planning and collaboration with various stakeholders, Cagayan de Oro aims to build a resilient and prosperous future for its residents and the broader community.

Cagayan de Oro City’s ascent to becoming the 2nd richest city outside Metro Manila is a testament to its resilience, ingenuity, and entrepreneurial spirit. As it continues on its trajectory of growth and prosperity, the city stands poised to play an increasingly significant role in shaping the economic landscape of the Philippines. With its strategic location, dynamic industries, and commitment to sustainable development, Cagayan de Oro City is indeed rising as a formidable economic powerhouse in the region.