FOR the fourth straight year, Quezon City retained the distinction as the wealthiest among 149 cities in the country in terms of assets, according to the 2023 Annual Financial Report (AFR) on Local Government Units released by the Commission on Audit on December 2, 2024.
Based on the 258-page report, the country’s most populous city finished the year with P448.51 billion in total assets, or an increase of more than P5 billion from P443.406 billion in 2022.
Firmly rooted at second place was Makati City, whose assets grew to P243.444 billion in 2023 from P239.478 billion the year before.
The City of Manila, Pasig City, and Taguig City kept their ranks at third, fourth, and fifth with assets of P85.92 billion, P53.72 billion, and 51.59 billion, respectively.
Leapfrogging four rungs from 10th to sixth place was Parañaque City with P35.512 billion in assets, up more than P8 billion from P27.376 billion the previous year.
Mandaue City dropped one place to number seven with P35.367 billion, replacing Mandaluyong City which settled at eighth place with P33.92 billion.
Davao City, the home town of Vice President Sara Duterte, was unmoved in ninth place with P32.884 billion.
The full 20 wealthiest cities are: Quezon City (P448.51 billion); Makati City (P243.444 billion); Manila (P85.92 billion); Pasig City (P53.72 billion); Taguig City (P51.594 billion); Parañaque City (35.512 billion); Mandaue City (P35.367 billion); Mandaluyong City (P33.92 billion); Davao City (P32.884 billion); Cebu City (P30.93 billion); Caloocan City (P30.752 billion); Butuan City (28.695 billion); Zamboanga City (P26.059 billion); Laoag City (P21.049 billion); Antipolo City (P20.794 billion); Muntinlupa City (P19.995 billion); Pasay City (P19.76 billion); Sta. Rosa City, Laguna (P19.71 billion); and Calamba City (P19.034 billion), and Puerto Princesa City (P18.089 billion).
The cities of Butuan, Muntinlupa, and Sta. Rosa are newcomers in the top 20, list booting out Baguio City (former 18th), Cagayan de Oro City (former 19th), and Valenzuela City (former 20th).
Among the country’s 81 provinces, Cebu remained unshaken at the top with P309.897 billion in total assets, up P74.16 billion from P235.738 billion in 2022.
Rizal likewise kept a stranglehold on second place with P39.71 billion, showing a P4 billion increase year on year.
This year’s biggest mover, Camarines Sur, vaulted from 15th place in 2022 to take over third with P33.415 billion, more than doubling the value of its previous assets at P16.192 billion. It dropped Batangas to fourth with P32.522 billion.
The complete 20 wealthiest provincest: Cebu (P309.897 billion); Rizal (39.71 billion); Camarines Sur (P33.415 billion); Batangas (P32.522 billion); Davao de Oro (P23.379 billion); Cavite (P22.989 billion); Ilocos Sur (P21.951 billion); Bukidnon (P21.643 billion); Negros Occidental (P21.068 billion); Pampanga (P20.778 billion); Iloilo (P20.75 billion); Isabela (P18.67 billion); Leyte (P18.667 billion); Pangasinan (P18.36 billion); Palawan (P17.956 billion); Tarlac (17.047 billion); Surigao del Norte (P16.431 billion); Negros Oriental (P15.307 billion); North Cotabato (P14.843 billion).
Tarlac and North Cotabato are new entries into the list, pushing out Bulacan and Nueva Ecija, who last year occupied 19th and 20th places, respectively.
A major shakeup took place in 2023 in the list of 20 wealthiest municipalities after 2022 first placer Carmona, Cavite became a city in July 2023.
Its spot was taken over by Caluya, Antique with P6.269 billion, jumping over second-running Limay, Bataan and third-place occupant Silang, Cavite.
The biggest surprise was Mariveles, Bataan, which came from outside the list to cop the fourth spot with P4.083 billion in total assets.
Joining it as newcomers were the municipalities of Masinloc, Zambales at No. 19 and Mauban, Quezon occupying 20th place. Their entry ousted Bataraza, Palawan and Salcedo, Ilocos Sur from the 18th and 19th positions, respectively.
The list of 20 wealthiest municipalities: Caluya, Antique (P6.269 billion); Limay, Bataan (P6.171 billion); Silang, Cavite (P4.483 billion); Mariveles, Bataan (P4.083 billion); Taytay, Rizal (P3.923 billion); Binangonan, Rizal (P3.888 billion); Cainta, Rizal (P3.845 billion); Claver, Surigao del Norte (P3.519 billion); Nasugbu, Batangas (P3.512 billion); Sta. Cruz, Ilocos Sur (P3.486 billion); Sinait, Ilocos Sur (P3.355 billion); Magsingal, Ilocos Sur (P3.163 billion); Cabugao, Ilocos Sur (P3.095 billion); Rodriguez, Rizal (P3.061 billion); Sual, Pangasinan (P2.995 billion); Sta. Maria, Ilocos Sur (P2.985 billion); Pilar, Abra (P2.962 billion); Tanay, Rizal (P2.781 billion); Masinloc, Zambales (P2.762 billion); and Mauban, Quezon (P2.741 billion).
