THE city of Cagayan de Oro has been recognized by the UK-based think tank Oxford Economics as having one of the largest urban economies in the world.
This recognition comes from the recently released Global Cities Index, which lists 1,000 cities worldwide.
Cagayan de Oro is one of nine cities in the Philippines to make it onto this prestigious list.
Among these cities, Cagayan de Oro ranks third, following Manila (Rank No. 1) and Cebu City (Rank No. 2). This achievement highlights the city's significant economic growth and potential.
According to the Global Cities Index, the rankings are based on five key categories: economy, human capital, quality of life, environment, and governance.
Cagayan de Oro, specifically, has been praised for its environmental efforts, placing 487th globally in this category.
Sheila Lumbatan, Chief of Staff at the City Mayor's Office, said the mayor, Rolando "Klarex" Uy, expressed pride and excitement over this recognition.
"This is a testament to the hard work and dedication of our local government and citizens," Lumbatan said, quoting the mayor.
She added that, led by Mayor Klarex, the city government officials are committed to continuing their efforts to improve the city in all aspects.
The Global Cities Index is a comprehensive report that evaluates cities worldwide on their economic strength and overall livability.
In Southeast Asia, Cagayan de Oro's ranking is notable, placing it among other prominent cities such as Singapore, Kuala Lumpur, and Bangkok.
Manila, which topped the list for the Philippines, ranked 256th globally. Cebu City followed closely behind at 436th.
Other Philippine cities that made the list include Davao City, Angeles City, Bacolod City, Dagupan City, Zamboanga City, and General Santos City.
Oxford Economics' recognition of Cagayan de Oro's environmental efforts is particularly significant.
The city has been implementing various green initiatives aimed at sustainability and reducing its environmental footprint, according to Lumbatan, adding that these efforts have not gone unnoticed and play a crucial role in the city's high ranking.
She said the city government plans to leverage this recognition to attract more investments and bolster economic activities further.
"Local businesses and residents alike are optimistic that this acknowledgment will bring more opportunities and growth to the city," said Lumbatan.
Lumbatan added that as Cagayan de Oro continues to rise in global rankings, the city remains focused on improving the quality of life for its residents while maintaining sustainable and inclusive growth.
This recognition by Oxford Economics marks a milestone in the city's journey towards becoming a leading urban economy in the Philippines and beyond, Lumbatan shared. (With a report from CIO)
