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MANILA, Philippines – For the third straight year, Quezon City emerged as the wealthiest city in the country, according to the 2022 Commission on Audit (COA) Annual Financial Report.
COA’s Annual Financial Report in 2022 covered 81 provinces, 147 cities, and 1,487 municipalities.
Richest cities
Among the top 20 richest cities, 10 are in Metro Manila.
Quezon City, at top spot, reported total assets of P443.406 billion for 2022 – P7.6 billion lower than the P451.007 billion it declared in 2021.
Davao City is the top Mindanao city among the 20 richest.
(Editor’s Note: An earlier version of this story stated that Davao was the only city in the Top 20. Zamboanga City and Cagayan de Oro City also made it to the list.)
Some cities that ranked just outside the top 20 richest cities list are Dasmariñas City in Cavite (P13.26 billion), Las Piñas (P13.229 billion), and Iligan City in Lanao del Norte (P13.108 billion).
Richest provinces
Out of the 81 provinces covered in the COA report, Cebu was named the richest province with P235.738 billion in declared assets in 2022, marking a P20.47 billion increase compared to 2021.
The ranking of Cebu, Rizal, Batangas, and Davao de Oro remained consistent with the previous year's standings.
Meanwhile, there were shifts in the rankings of other provinces. Ilocos Sur climbed two places from seventh to fifth, surpassing Bukidnon, which slipped from fifth to sixth. Negros Occidental, meanwhile, dropped from sixth to eighth in the ranking.
Iloilo advanced from eighth to seventh. Cavite secured the ninth spot, overtaking Isabela, while Pampanga entered the top 10, displacing Palawan by one rank.
Richest municipalities
The municipality of Carmona, Cavite, maintained its rank as the richest municipality in the country in 2022, with total assets of P6.523 billion. Carmona has since been converted into a city.
It was followed by the municipalities of Limay, Bataan, and Silang, Cavite, which also retained their spots in the ranking.
Cainta, Rizal, fell from its previous fourth-place position, making way for Caluya, Antique, which placed seventh in 2021.
Meanwhile, the ranking of Cabugao, Ilocos Sur, noticeably jumped from ninth to fifth place, pushing Rizal municipalities Taytay and Binangonan down the list, to seventh and ninth place, respectively.
Six of the municipalities on the top 20 list are in Ilocos Sur, while five are in Rizal.
– Rappler.com
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