Local Economy

Known for its good harbor with large wharves and an extensive export trade, Tacloban City is the regional center of commerce, culture, education, government and tourism in the Eastern Visayas region. Recently, brand new malls, call centers, financial institutions, home depots, entertainment centers, coffee bars and business establishments have set foot on various areas bring up new competitors like Robinsons Land, Mister Donut, KFC, and other small establishments.

During the mid-90’s, the city outlined a 237-hectare Economic Zone which was later approved by the Philippine Economic Zone Authority by virtue of Presidential Proclamation No. 1210 on the 28th day of April 1998. Eventually, the Eastern Visayas Agri-Industrial Growth Center (EVRGC) became officially registered as an economic zone. The City Government of Tacloban is its developer/ operator. 

Tacloban’s economic growth has aided it in becoming one of the fastest growing cities in the Philippines. It possesses one of the lowest poverty incidence rates at roughly 9%. It is also the richest local government unit in Region VIII. The Daniel Z. Romualdez Airport is the region’s largest domestic airport. There are plans for structural development and facilities upgrade to pass international standards.

Currently, at least 30 banks and financial institutions operate in the city namely:
• Allied Bank
• Bank of the Philippine Islands- 3 Branches
• Banco de Oro- 3 Branches
• Chinabank
• Development Bank of the Philippines
• Green Bank of Caraga
• Philippine National Bank- 2 Branches
• Philippine Savings Bank
• Metrobank- 3 Branches
• Kauswagan Bank
• Land Bank of the Philippines- 3 Branches
• East West Bank
• Robinsons Bank
• RCBC
• First Consolidated Bank
• Rural Bank of Dulag
• UCPB
• Union Bank
• City Savings Bank
• Philippine Veterans Bank
• Philippine Farmers Bank
• Banco Filipino
• Postal Bank
• Security Bank
• Our Lady of Perpetual Help Cooperative
• Quedancor

Shopping centers have already started flocking in the city, due to a wide base of aggressive consumers from different ages. Not long ago, Robinsons Land put up its first mall in the city, Robinsons Place Tacloban, which is now the region’s largest shopping complex. This record defeated Borongan’s (Eastern Samar) Wilsam Uptown Mall. The Gaisano Group also opened its second mall, the Gaisano Central Mall, somewhat larger than its first, the Gaisano Capital Mall. The Gaisano Central Mall houses the city’s first KFC restaurant. Another franchise opened in Robinsons Place Tacloban.

Here is a list of the shopping areas to visit:
• Robinsons Place Tacloban
• Gaisano Central Mall Tacloban
• Gaisano Capital Tacloban-Main
• Highway Supermart
• Marketsavers and Wholesale Club
• Dynasty Square
• Dynasty Center
• Kevin's
• Leyte Asia Trading
• Leyte Supermarket
• Tacloban Shopping Center (dry market)
• Tacloban Supermarket (wet market)
• Nena's Trading
• Reyna's Department Store
• RR Arcade
• 7R (fashion store)
• SM City Tacloban (Under Feasibility study)