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Business Profile

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Business ProfileBusiness Profile

 


  • Baguio City is known as the Summer Capital of the Philippines
  • Highly urbanized city
  • City's income: Php 719 Million
  • Reinaldo A. Bautista Jr., City Mayor
  • No. of Barangays 128(urban)
  • Population: 252,386 (as of 2000)
  • 99 percent literacy rate
  • 250 kilometers from Manila and is accessible by land(5-6 Hours) and by air (45min-1hr)
  • Economic activities: Tourism and Trade and Industry

 


The city plays a vital role in national development as shown by the inclusion of the City in the Wonders of World (WOW) by the Department of Tourism. It is one of the major tourist hubs identified to cater to domestic and foreign tourists. Tourist traffic continues to increase and registered twice the figure in 1995 from 542,295 to 1,112,319 in 2002.

At the regional level, Baguio plays numerous roles. These are:

  1. Tourists Center
    Undoubtedly, Baguio City remains a prime tourist destination area in North Luzon. The city has accounted for almost 85 percent of tourist arrivals to the Cordillera Region since the region's inception. Baguio City is also the gateway to other tourist destinations in the North. Almost always, tourists either come to the City only or pass through on their way to other places in the Cordillera. This highlights the strategic role that Baguio City plays in the region's tourism industry.
  2. The City as a Prime Educational Center
    The city is home to a significant number of students coming from neighboring Cordillera provinces as well as other North Luzon proginces. The student population in higher educational institutions located in the city totaled 62,231 in 2000 from 61,594 in 1998. Of the 33 public and private HEIs in the region, 14 are located in Baguio City. The continuing influx of students to the City as well as the increasing number of HEIs locating in the city only attest to the City's stature as an education center in Northern Luzon.
  3. Role of the City as a financial center
    Savings and investments play a very vital role in the City's economy because these are necessary conditions for capital formation, which makes the economic system efficient or productive.

    Currently, there are 201 banks and other financial institutions located in the City from only 14 such establishments in 1995. This impressive growth of financial establishments in the city presents a challenge for the city to be a financial center. not only in the Cordillera region but in North Luzon as well. There are 50 banks currently operating in the city. These financial institutions act as intermediaries between the depositors and the borrowers. Savings of the depositors are being used up in terms of loans, which will in turn be invested by borrowers. Loans granted by banks are of several types depending upon the function of the bank.

    Aside from banks, there are other lending institutions available to businessmen such as credit establishments, credit cooperatives and individual lenders. Some government agencies are also advocating on the formation of capital by providing the seed money and supervising the use of such.

  4. The City's Industrial Base
    Baguio City hosts a special economic zone under the Philippine Economic Zone Authority(PEZA). The SEZ is located in Loakan and caters to nine (9) foreign firms. The largest of this is Texas Instruments Philippines, Inc. a leading producer or semi-conductor parts and accessories in the world market. Also, production output in the SEZ accounts for the bulk of the Cordillera Region's total exports. The city earns income from taxes paid by PEZA.
  5. Regional Government Center
    The strategic location of the City in the Cordilleras makes it conducive for regional government offices to set up their offices in the City, Baguio being the gateway to the Cordilleras.

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