Philippines is an archipelago in Southeast-Asia with more than seven thousand islands. It is also divided into 81 provinces with 145 cities. The cities are divided in three ways: the Highly Urbanized Cities (HUC) which have a population of over 200,000 and have a minimum annual income. Independent Component Cities (ICCs) fall outside of provincial jurisdiction and are further divided into six brackets dependent on the city’s minimum income. Component Cities are similar to ICCs, with the main difference being that they are under provincial jurisdiction.
Now here are the lists of 10 richest cities in the Philippines.
1. Makati City (PHP 34,461 billion equity)
Makati is the financial center of the Philippines, because it has the most number of multinational and local corporations in the country. Most of the foreign embassies like Switzerland, Pakistan, and Malaysia are also based in this City. It is the 17th-largest city in the country with a population of 582,602 and is ranked as the 41st most densely populated city in the world with 19,336 inhabitants per square kilometer.
2. Quezon City (PHP 31, 917 billion equity)
Quezon City is the site of many government offices. One of the most important government offices in the Philippines is the Batasang Pambansa Complex-the seat of the House of Representative. The city also hosts the University of the Philippines Diliman, National University, and Ateneo de Manila.
3. Pasig City (PHP 20,036 billion equity)
Pasig city is one of the oldest municipalities in the Philippines. It was formerly rural settlement and was established as early as 1572 by Augustinians. The city also used to hold the Guinness World Record for the largest secondary school in the world, with a population of around 20,000 students in Rizal High School from 1993 until 2005.
4. Manila City (PHP 13,131 billion equity)
Manila is considered as the major center of commerce, banking, and financial as well as tourism, transportation, and real estate. It is also considered as the most densely populated city in the world because of its small area yet has 42,857 people per square kilometer.
5. Zamboanga City (PHP 10,464 billion equity)
Zamboanga City is a Highly Urbanized City (HUC) in Mindanao. It is the commercial and industrial center of the Zamboanga Peninsula Region. It was also used to be known as “Samboangan” in historical records and was founded by the Subapen people during the pre-Hispanic times. Furthermore, Zamboanga has been variably called “Convention Capital of the Country” or “Sardines Capital”, because canning factories here provides about 70 percent of all sardines.
6. Cebu City (PHP 7,885 billion equity)
Cebu City is known as the second city of the Philippines. It is also a significant center of commerce, trade and education in the Visayas Region. Furthermore, Cebu City is also known considered as the Fount of Christianity in the Far-East.
7. Caloocan City (PHP 6,894 billion equity)
Caloocan City is centered on developing an investor-friendly environment that will create jobs for its constituents. It was also formerly a part of the Province of Rizal of the Philippines’ Southern Luzon Region.
8. Marikina City (PHP 4,887 billion equity)
Marikina City is the most industrialized city in Metro Manila. It was given the title “Shoe Capital of the Philippines”, because of its notable shoe industry.
9. Calamba City (PHP 4,690 billion equity)
The City is known as the Resort Capital of the Philippines because of its numerous hot spring resorts. It is also the hometown of the Philippine National Hero, Jose Rizal.
10. Cagayan de Oro (PHP 4,670 billion equity)
Cagayan de Oro serves as the regional center and business hub of Northern Mindanao. It is also famous for its white watering rafting or kayaking adventures, one of the tourism activities being promoted along the Cagayan de Oro River.
There you have it! The lists above are just some of the richest cities in the Philippines. I hope you gained knowledge from this article.