In its sixth year, Cebu cemented its status as one of the top five richest cities in the Philippines. It remains as the richest city outside Luzon according to the 2019 fiscal report submitted by the Commission on Audit.
Cebu City’s assets increased to P34.7 billion in 2019 from P33.8 billion in 2018. Makati City remains the richest city in the country with an astounding asset of P232 billion followed by Quezon City, Manila City, and Pasig City.
As it is still the only city outside Metro Manila in the top five, Cebu City is still regarded as the premier city in terms of assets in the Visayas and Mindanao group of islands. Davao City on the other hand moved a notch higher with its P19.7 billion asset from P16.2 billion of 2018 and replacing Pasay City which has P19.5 billion worth of wealth.
Here are the richest cities in the Philippines in 2019:
- Makati City – ₱ 232 Billion
- Quezon City – ₱95 Billion
- Manila City –₱63 Billion
- Pasig City – ₱45 Billion
- Cebu City – ₱34 Billion
- Taguig City – ₱28 Billion
- Caloocan City – ₱20 Billion
- Davao City – ₱19.7 Billion
- Pasay City – ₱19.5 Billion
- Calamba City – ₱13 Billion
Meanwhile, Cebu is still the richest province in the country with over P188 billion total assets in 2019.