Cebu is considered the premier province in the Philippines having maintained its status as the country’s wealthiest province for eight consecutive years by the Commission on Audit.
In the 2021 financial report, the COA ranked the province as the richest in terms of equity and assets totaling P215.27 billion. It is the only province in the country that has assets breaching the P200 billion mark.
It is the largest island (total landmass) in the Visayas and is known for its rich Spanish colonial past. It is located in Central Visayas region, bordered to the east of Negros and to the west of Leyte and Bohol.
As one of the Philippines' most developed provinces, Cebu serves as a premier destination and a global hub for shipping, furniture and handicraft manufacturing, business processing services, heavy industry, and tourism. It is currently regarded as the most vibrant island in the Philippines, drawing many domestic and international travelers.