Bacolod City generated P4.2 billion annually from the sugarcane industry, lucrative tourism sector, and real estate market, making significant contributions to the local economy.
The sugarcane industry in Bacolod City has been a key component of its economy, with large plantations yielding top-notch sugar that is sought after both locally and internationally.
According to Bacolod City Mayor Albee Benitez, the sugar industry not only provides employment opportunities for locals but also attracts investors looking to capitalize on the city's agricultural resources.
Fermenting sugarcane juice or molasses diluted with water involves yeast breaking down to produce alcohol.
The fourth Tanduay Rum Festival, which started last August 17, is a major milestone for the drink as it commemorates its 170th year.
The vibrant streets of Bacolod City are alive with the sweet scent of sugarcane.
The event leading up to the famous Masskara Festival has become a popular attraction for visitors, playing a key role in boosting the tourism industry in Bacolod City.
In addition to the sugarcane industry, Bacolod City's tourism sector plays a vital role in boosting its economic growth.
The city's vibrant culture, tasty food, and friendly atmosphere draw tourists from all over, leading to an increase in income from hotels, restaurants, and entertainment options for visitors.
In 2023, the city saw its highest number of tourists ever, with 780,000 visitors bringing in P7 billion in local earnings.
Also, this year's Tanduay Rum festival has continued dominance in the rum market, surpassing Bacardi sales since 2009, according to the company.
Additionally, the real estate sector in Bacolod City has seen an uptick in growth in the past few years as a result of an increasing population and a greater demand for residential and commercial properties.
This market presents opportunities for investment and plays a role in boosting the economy through the development of construction projects and related services.
The city mayor stressed the significance of the festival in showcasing Bacolod City as a secure and hospitable tourist destination.
He spoke about the recent misleading information regarding kidnappings in the city, reassuring visitors that the city government is currently looking into these allegations.
Photo credits to : Nationweek website
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