The Economic Significance of Cdeo Starbucks and the rest

I am becoming more convinced of the growing consumer spending capacity of the middle class in Cagayan de Oro City that matches that of our northern counterparts. Starbucks would not have selected this city as its first coffee shop in the Island of Mindanao if it was not for this. The opening of Starbucks, the world’s number one “coffee shop” which pretty much sells the brand more than the coffee validates how the city is slowly becoming a central hub of trade and commerce with a growing culture of “affluence”. To put it plainly, the Kagay-anons are willing and able to spend more. What does this mean to all of us? It signifies an exciting time for Cagayan de Oro. This growth in terms of big lump sum investments and a growing consumer spending can deliver a large multiplier effect that all innovative entrepreneurs can take advantage of as signaled by the Starbucks opening, Hotel constructions, and International Airport construction. Small shops will open to accommodate the influx of foreign tourists brought in by the upcoming International airport, taxis and other alternative transport will blossom when new luxury hotels will be built, the tourism industry will have a frenzy, and our ethnic artisans will have a to double their production. In the light of this economic momentum, this is therefore a call to all the brilliant, innovative, and ambitious Kagayaons to remain in the city and invest in the City and its people. The market in its upward trajectory is perfect for entrepreneurial ventures. Starting capital remains relatively cheaper but with a growing market willing and able to spend.