Mindanao cities see economic growth in 2024
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Mindanao’s major cities demonstrated robust economic performance in 2024, according to data from the Bureau of Local Government Finance (BLGF) based on Locally-Sourced Revenue (LSR).
LSR represents income generated by local governments through taxes, fees, and other collections, reflecting their capacity to sustain operations and development projects without depending entirely on national government allocations.
Davao City topped the list with P5.76 billion in locally-sourced income, reaffirming its position as the economic powerhouse of Mindanao. Cagayan de Oro City followed with P3.15 billion, while General Santos City ranked third with P1.07 billion — a testament to its expanding business sector and improved fiscal management.
Completing the top ten were the cities of Zamboanga, Butuan, Tagum, Iligan, Panabo, Pagadian, and Digos.
The BLGF noted that these results underscore the increasing fiscal resilience and economic vitality of Mindanao’s urban centers, signaling stronger local governance and a more self-reliant regional economy.
