Three Cebu cities among top 10 richest

The Philippine Statistics Authority (PSA) revealed yesterday the top 10 earners in cities and provinces outside of Metro Manila. Among them are the Tri-Cities of Cebu, namely, Lapu-Lapu, Cebu, and Mandaue.

The PSA collected the economic data of 82 provinces and 17 major cities outside Metro Manila from November to December 2023. This is measured by the per capita Gross Domestic Product (GDP), the term used by economists to measure how much each person contributes to the country's economy.

Lapu-Lapu City was on the third spot with P313,039 of individual contributions. The city is heavily reliant on tourism, with luxury resorts, and dive sports on Mactan Island. It is hosting the three Mactan Economic Zones, where companies produce electronic components, furniture, and fashion accessories for international markets.

Cebu City has a per capita GDP of P293,426. Its economic success stems from a mix of industries such as real estate, shipping, and tourism. Notably, the BPO sector is one of the largest which host global companies in IT and customer service.

Mandaue City, which is known for its furniture and woodcrafts industry, exporting high-quality pieces all over the world. The city has P274,376 per capita GDP.

Ranked number one is Baguio City with P420,016 per capita GDP, followed by Cagayan de Oro with P343,936.

The fourth richest after Lapu-Lapu City is Iloilo City with P306,444, then Bataan Province with P297,930.

The seventh richest was Laguna Province with P287,280.

The ninth place went to Davao City with P258,811, and 10th is Batanes Province with P251,955.