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Economy
The primary economy of Baguio City is its educational centers of which it has in
excess of seven colleges and universities as well as a plethora of trade and
technical schools. Estimates are that these schools compose in excess of one
hundred thousand students.
The secondary source of income for the residents is its character as the
commercial hub in the province of Benguet. Many of the agricultural and mining
goods produced in Benguet goes to Baguio City for central distribution.
The city is also a major retail center for the Cordilleras and the Ilocos
provinces, with shoppers from the provinces coming to the city to take advantage
of the diversity of competitively priced commercial products on sale, most of
which are only available in Manila. Despite the city's small size, there are
numerous shopping centers and malls in the business district catering to the
growing commercial activity in Baguio. These are the SM City Baguio mall, Baguio
Centermall, Cooyeesan Hotel Plaza, Abanao Square, Maharlika Livelihood Center,
and Porta Vaga mall.
The areas of Session Road, Harrison Road, Magsaysay Avenue and Abanao Street
comprise the trade center of the city. It is in these areas where commercial and
business structures abound. First class movie houses, hotels, restaurants,
department stores, and shopping centers are found in this downtown area.
Shopping at the famous city market offers one a wide array of locally sourced
goods and products, from colorful woven fabrics and strung beads to primitive
wood carvings, cut flowers, strawberries and vegetables. (Strawberries and
string beans - known as 'Baguio beans' across the Philippines - are shipped to
major urban markets.)
Baguio is also home to one of the country's most profitable Philippine Economic
Zone Authority areas (PEZA), called the Baguio City Economic Zone (BCEZ),
located in the southern part of the city between the Camp John Hay leisure
resort and the Philippine Military Academy. Firms located in the BCEZ mostly
produce and export knitted clothing, transistors, small components for vehicles,
electronics and other computer parts. Notable firms include Texas Instruments
Philippines, MOOG, and Client Logic. Recently, there has been an influx of call
centers in the city with American companies outsourcing their technical support
facilities in the country.
Tourism is one of Baguio's main industries. Commonly, overseas visitors pass
through Baguio, while Filipinos make it a destination.
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