Makati leads Phl cities with highest per capita GDP in 2023

Makati City reaffirmed its position as the Philippines’ leading economic hub with 6.3-percent GDP growth in 2023, reaching P1.18 trillion, according to the Philippine Statistics Authority (PSA). The city also recorded the country’s highest per capita GDP at P1,778,002, a 4.9 percent increase from the previous year.

Mayor Abby Binay emphasized how the city’s economic success directly benefits its residents.

"Economic growth is not just about numbers — it’s about ensuring that Makatizens feel the difference," she said, citing improvements in healthcare, education, and social programs as tangible results of the city’s progress.

Makati’s growth rate also outperformed the Philippines’ national GDP growth of 5.6 percent, already recognized as the fastest among major Asian economies.

Key sectors driving Makati’s economy include accommodation and food services (27.2 percent growth), other services (14.1 percent), and utilities (9.2 percent).

These gains have enabled initiatives such as the Makati Health Plus (Yellow Card) program, which provides free consultations, hospital care, and medications to nearly 80,000 residents.

Educational support includes free schooling, supplies, digital learning tools, and scholarships.

Social welfare programs target vulnerable groups, offering cash assistance for seniors and tailored support for persons with disabilities.

“In Makati, progress means making sure everyone benefits. From providing free healthcare and improving education, we aim to create a city where every resident feels the impact of our economic success,” Mayor Binay said.

The PSA’s Provincial Product Accounts highlighted Makati’s significant role in national economic development, underscoring its ability to sustain growth while ensuring public services improve the quality of life for all residents.