Economy
Tacloban is the economic center of Eastern Visayas region, with an economy largely focused on commerce, tourism, education, culture, and government in the region. Several regoinal broadcasters are based in the city, including ABS-CBN, GMA Network, TV5, Intercontinental Broadcasting Corporation and Net 25.
Economically, Tacloban is one of the fastest growing cities in the Philippines. It has one of the lowest poverty incidence rates in the country (at roughly 9%, while the national poverty incidence stands at 30%), and is the richest local government unit in Eastern Visayas.
The Daniel Z. Romualdez Airport also make the city a key regional transportation hub.
In the mid-90's, Tacloban City worked out the acquisition of 237 hectares for its Economic Zone, which was finally realized and approved by the Philippine Economic Zone Authority, by virtue of Presidential Proclamation No. 1210 on April 23, 1998. The Eastern Visayas Agri-Industrial Growth Center (EVRGC) was then officially registered as an Eco-Zone with the City Government of Tacloban as the developer/operator.
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Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
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—Jane Jacobs (b. 1916)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)