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Manila Bulletin devider Property and Living devider Davao City drives growth in the south

Davao City drives growth in the south

The bustling city sets the pace for progress in the region

Published Apr 4, 2025 01:20 am

In the Davao region, the City of Davao is driving growth with an upbeat economy and widening opportunities for business, modern living, and leisure. 

The highly urbanized city registered 52.3 percent of the total gross domestic product, the largest share in the region in 2023. Davao City’s gross domestic product (GDP) grew to P532.54 billion in 2023, recording a 7.5 percent increase from P495.40 billion in 2022. Other services registered the highest growth at 21.7 percent, followed by Accommodation and food service activities at 21.3 percent, and Transportation and storage at 13.1 percent, according to the data released by the Philippine Statistics Authority data in December 2024.

Davao Samal bridge.jpg
Samal Island-Davao City Connector (SIDC) Project will link Davao City and Samal Island. (Artist perspective DPWH)

With the City Government of Davao’s steadfast thrust to consistent economic growth and development, Davao City bagged the 4th Best Startup Ecosystem rank in the Philippines, a first in the region based on The Global Startup Index in 2024. Startups are businesses that utilize innovative technology-enabled solutions with the potential to expand or grow in scale.

Local businesses, particularly in the restaurant sector, are also upbeat with the recorded increase of business permit applications in 2024. A total of 1,241 restaurant businesses applied for permits in 2024 compared to 1,176 applications in 2023. The Davao City Business Bureau had issued permits to 1,083 restaurants, a good addition to the expanding food service industry.

In 2024, the Davao City Durian Industry Council reported that durian exports doubled compared to last year. From January to September 2024, the durian export rose to 9,351 metric tons from 4,088 metric tons exported in 2023. From this period, 9,295 metric tons of fresh durian were exported to China, 55 metric tons to Singapore, and the remaining 184.25 kilos to Japan. For the frozen durian, 3,129 metric tons were exported to Thailand, followed by Korea with 185 metric tons, and Malaysia with 25 metric tons.

The year also saw a significant increase in tourist arrivals. Davao City received more than over 1.8 million visitors, surpassing the 1.2 million tourists recorded in 2023. The revenue related to tourism is approximately P4,973,199, nearly reaching the P5 million revenue target.

The City Tourism Operations Office attributed the growth in tourist arrivals to the tourism events and activities in the city, such as the Araw ng Dabaw, Duaw Dabaw, the Kadayawan Festival, and Pasko Fiesta. The office estimates about 2.5 million visitors will visit the city this year.

Securing its place as the center of development in Mindanao, Davao City is fast becoming an urban center for business and real estate developments.

As a key tourist destination, Davao City now hosts leisure-centric condotels and resort-themed residences that are experiencing good take-up in occupancy. The mixed-use development Aeon Bleu by FTC Group is 93 percent sold (2Q 2024) while Dusit Thani Residences by Torre Lorenzo is 100 percent sold, Bridgeport Park Sapphire Tower by Damosa Land is 81 percent sold, and The Crown Residences at Tierra Davao is 69 percent sold (4Q 2024).

Infrastructure projects are expected to further improve the investment climate in the city as well as in the region upon the completion of the Davao coastal road in 2025, the Davao-Samal bridge in 2027, and the Davao airport expansion in 2028.

Related Tags

DAVAO CITY-SAMAL ISLAND BRIDGE davao city DAVAO CITY INVESTMENT PROMOTION CENTER
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