Photo by Mediensturmer on Unsplash
Written by: Aiya Rodjel
While most investors usually take interest in Metro Manila, the Pampanga economy shows a lot of promise. Apart from the province’s adjacent location to the Metro, it has also opened its doors to digital technology, such as higher speeds of internet connection. Its capital is the city of San Fernando, but there are a lot of places to visit and put up new companies in. Angeles City is the largest local government unit in the province. It is classified as a first-class component city and is advertised as a gastronomic destination.
Because of its strategic location and cheaper standards of living, it is enjoying continuous growth in economic development. The quickest way to Pampanga from Manila takes about an hour only. On average, it would take someone two to three hours to venture to this Central Luzon province.
This economically competitive province is living proof of resiliency, as it managed to enjoy tremendous economic growth even in the aftermath of the Mt. Pinatubo eruption. In recent years, it has managed to become a culinary capital, a thriving economic zone, and tourist destination.
In this article, we’ll discuss the factors that have contributed to Pampanga’s economic growth. We’ll also talk about why the future is bright for those who invest in its development plans.
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Clark International Airport opens up the Pampanga Economy
Majority of international flights to Metro Manila land at Ninoy Aquino International Airport. Unfortunately, the country’s premier international gateway cannot adequately hold all the incoming and outgoing flights. This has caused a lot of air traffic and flight delays. In turn, a lot of economic activities become disrupted, and this affects the Philippines’ economy.
The Clark International Airport provides a great solution to this congestion issue. This world-class gateway serves Central Luzon, Northern Luzon, and to an extent, Metro Manila. Easily accessible via North Luzon Expressway and Subic Clark Tarlac Expressway, it is a good alternative for inbound and outbound international passengers. This solution is also advantageous for passengers whose final destinations are located northward.
Other modes of transportation
There are a lot of public transportation options for travelers to choose from once they land. Similarly, there are special buses that take people in transit from the airport to Metro Manila. There are also private vehicles for those who want more privacy. This means people won’t have to trouble themselves if they need to travel southward.
The recent renovation of Clark International airport gives the region a tourism boost. The airport now has a passenger capacity of 8.2 million people per year, double its capacity before the renovation project. While the ongoing pandemic may have slowed down the industry, it is expected that tourism will rise as the Pampanga economy continues to open.
In addition to the development of a new terminal building, the government is also building a railway line that will link Manila and the Clark Freeport Zone. This means that Pampanga and the rest of central Luzon will be more accessible in the years to come.
For investors, this development can be beneficial for businesses. This means that the properties they invest in will likely increase in value as time passes by. The real estate market will also be booming as more people move to Pampanga for work and business. Commercial spaces are expected to become a hot commodity as well.
Central Luzon Tourism Hot Spot, part of the Pampanga Economy
The province is one of the most visited destinations in Central Luzon. From the provincial capital, the city of San Fernando to Angeles city, it has a lot of interesting attractions for people to visit. There are a lot of well-established hotels and resorts within the Clark Special Economic Zone.
Its position in Central and Northern Luzon places it at an advantage. It is both an urban growth center and a well-preserved nature destination. It shares the famous Mount Pinatubo alongside Zambales and Tarlac. Adventurers often go trekking to the crater and then explore the rest of the region.
There are a lot of beautiful religious monuments such as the St. Peter Shrine in Apalit. Nature lovers will enjoy “Paradise Ranch and Zoocobia Fun Zoo” in Clark, Mount Arayat, and the Mount Arayat National Park in San Juan Bano. Those who want to enjoy Christmas all year round will love the Paskuhan Village in the City of San Fernando.
There are also popular annual events such as the Giant Lantern Festival in December, and the Aguman Sanduk in Minalin celebrated on the afternoon of New Year’s Day. Families and groups of friends frequent the region in February because of the hot air balloon festival in Clarkfield.
Plus, in Lubao in April, the San Pedro Cutud Lenten Rites celebrated two days before Easter. With all these events and destinations come opportunities for possible new business owners and local government workers.
From nature lovers to thrill-seekers, religious pilgrims to food lovers, there is surely something that will tickle anyone’s fancy. This means you can try different activities, and still have more to do if you choose to visit or set up a new company in the area.
New Clark City
Previously known as Clark Green City, New Clark City is a planned community currently in development. Located within the Clark Special Economic Zone, it is owned and managed by the Bases Conversion and Development Authority (BCDA). It is poised to become the new central business district in the province.
Since it was first conceptualized during the term of former President Gloria Macapagal Arroyo, who is currently the adviser for Clark, this project has enjoyed tremendous growth.
The majority of the sporting events during the 2019 Southeast Asian Games were held in New Clark City. This proved that the real estate project was capable of providing world-class properties for athletic events. There are plans for more international sporting competitions to be held in the city. This means more economic activities for Pampanga and the rest of the region.
A lot of prestigious educational institutions are planning to open campuses and schools in New Clark City. The University of the Philippines plans to open a campus in New Clark City. Plus, there are plans to build the country’s premier research institute in the field of virology at New Clark City by 2021 dubbed as the Virology Science and Technology Institute of the Philippines.
It’s remarkable to note that this is only the start. There are more plans to improve facilities and open even more projects. This means there are more job opportunities for those in the area.
New Clark City isn’t the only place in Pampanga enjoying impressive growth. Megaworld Pampanga is currently developing what will be known as Capital Town Pampanga. The property giant’s first township in the north, this mixed-use development will provide residential and commercial spaces.
This 35.6-hectare township project is expected to become the home of Pampanga residents and business process outsourcing (BPO) companies. Given its premier location, new and local businesses will stand to enjoy the proliferation of Capital Town Pampanga.
Given that there is still a lot of open spaces that show a lot of promise, it’s expected that Capital Town won’t be the only township project for long. A lot of other real estate developers have set their eyes on expanding in the North as well.
What makes these types of projects so important is that they elevate the real estate prices in the market. This means the investment people and companies will enjoy tremendous growth. Even if they end up moving elsewhere, their money will be well-spent. It also means more job opportunities for commercial establishments, as there will be a demand to address the residents’ needs.
Thriving Pampanga Industries
Fishing and farming are the two main industries of Pampanga. In fact, it is called the tilapia capital of the country because it produces hundreds of thousands of metric tons a year. Despite its rapid urbanization, it has retained its strength in the agriculture sector. This means companies such as Pampanga sugar development company remain one of the biggest suppliers for home-grown products within the nation and overseas.
Arts and Craft
In addition to its strong foothold in agriculture, the province has been able to preserve the country’s heritage and rich history through its thriving cottage industries. A lot of local businesses specialize in wood carving, furniture-making, guitars, quilts, and other handicrafts. These craft-making companies supply not only within the nation but abroad as well.
Across the year, Pampanga produces special lanterns called ‘parol,’ which are usually displayed during the Christmas season. It continues to supply these unique lanterns to different retail players within the country, and also overseas. This is why it has become the “Christmas Capital of the Philippines.” You can find the different sizes and materials used for the colorful lanterns even it is not the Lenten season.
Pampanga is also a haven for food lovers. Pampanga offers a lot of exotic and traditional Filipino food, which makes it such a hot spot for travelers. This is why Kapampangan cuisine, especially native sweets and delicacies, is often an item in Asian specialty stores abroad. Some of its popular sweets include pastillas, turonnes de casuy, and buro.
It is also famous for being a center for food processing goods. From Tocino to corned beef, Longganisa to ham, a lot of famous processed food choices from the country hail from Pampanga. Their products are famous not only within the nation but in Asian communities overseas as well.
In addition to these home-grown industries, there is also a growing number of BPO players in San Fernando, Angeles, and other areas. A lot of companies have set up hubs in various cities. Some of them even relocate their workforce given the congestion of Manila. This means there are a lot of job opportunities for those looking to move there.
Pampanga Economic Growth
What makes Pampanga an ideal place for business is that all these advancements are just the beginning. The Pampanga Megalopolis Plan is currently in the implementation stage to spread wealth across all cities. The goal of this Pampanga Future Development Plan is to amplify the national economic contributions of its cities while capitalizing on its current development.
The comprehensive plan operates under the slogan “Pampanga: Counter-Magnet of Metro Manila.” Basically, its implementation revolves around five key investment priorities. These include anchor tourist destinations, light industrial parks, high-value manufacturing, high-value agriculture, and smart city technologies. The plan is to capitalize on the unique competitive advantages each town has to offer.
Essentially, the plan is to help each city and township propel their key offerings. Clark International Airport serves as one of the main gateways. The ongoing development of various transportation options raises the value of investing in San Fernando and other cities. Rigorous urban developments mean that there are more opportunities for investors to take.
Invest in the Basics
Now that the prices are on the rise, it’s best to ride the wave and take advantage of the momentum its cities are enjoying. So how do you get started? In order to set up shop, you need to invest in the basics. This includes business permits, properties, and of course, an unlimited fiber internet connection. Fortunately, we at Streamtech Fiber Internet can help you exceed your limits wherever you are in Pampanga.
Through our services, you can conduct your own research on where and how to set up your new business and connect with new suppliers. You can also look for the best homes, and areas that fit your interests and hobbies. You can even research for the best food haunts, so you can enjoy all the culinary goodness Pampanga has to offer.
One of the newest internet providers in the country, we offer high-speed, unlimited internet to homes and companies across the nation. We can also let your entire household enjoy the Streamtech experience through our special product, the Extendifi WiFi extender. Plus, we even connect you to your favorite television channels through our partnership with Planet Cable. Contact our team and visit our official Facebook Page today to know more.