Parañaque rises to 7th spot among richest cities in Philippines

MANILA, Philippines — Parañaque has strengthened its ranking among the richest cities in the Philippines, climbing up to seventh place in 2024, the Philippine Statistics Authority (PSA) said.

City treasurer Anthony Pulmano said based on latest PSA data, Parañaque secured the seventh spot among the richest highly urbanized cities (HUCs) in the Philippines based on gross domestic product (GDP) per capita.

“Makati remains the richest city in the country in terms of GDP per capita, while Caloocan ranks as the poorest. Parañaque, however, has demonstrated strong economic performance, surpassing Taguig, Quezon City and Muntinlupa,” Pulmano said.

GDP per capita measures the total value of goods and services produced in a city divided by its population — serving as a key indicator of economic productivity and individual income share, rather than overall wealth alone.

Parañaque’s GDP reached P366.44 billion in 2024, a 6.8 percent growth compared to the previous year. This translated to GDP per capita at P521,065.

Pulmano noted that while Quezon City still leads in total local income, its large population reduces its per capita GDP compared to smaller but highly productive cities like Parañaque, Pasay and San Juan.

According to the PSA, Makati topped the rankings due to its smaller population and high concentration of business activity, while Parañaque’s rise underscores its balanced growth — driven by fiscal discipline, business expansion and inclusive urban development.

Meanwhile, Caloocan, despite its large population density, ranked lowest due to fewer high-value industries and lower productivity per person.

“The data confirms that Parañaque’s economic management is sound. We are not only increasing revenues but ensuring that growth translates into higher productivity and better opportunities for our residents,” Pulmano said.

“This ranking shows that Parañaque continues to grow steadily. Despite our increasing population, our economic output per person remains robust — a reflection of efficient fiscal management, strong local governance, and sustained investor confidence,” he added.