Expert: Phl economy's untapped potential lies in secondary cities

The Philippines has tapped only a fraction of its economic potential, with growth overly concentrated in Metro Manila, leaving vast opportunities in secondary cities such as Cebu, Davao and Iloilo, an economist has warned.

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Professor Ronilo Balbieran of the University of Asia and the Pacific (UA&P) told participants at the recently held Logistics Summit hosted by the Mandaue Chamber of Commerce and Industry (MCCI) that despite decades of steady expansion, the country has “barely scratched 1 per cent” of its capacity.

The capital region generates 40 percent of gross domestic product while occupying just 0.2 percent of the nation's land area, he said.

“Metro Manila cannot carry the Philippine economy forever,” Balbieran said. “The 99.8 per cent of land outside the capital holds enormous untapped potential.