Cebu City didn’t get its name “Queen of the South” for nothing as it retains its spot as the wealthiest city in the Philippines outside Metro Manila with a total asset of P34.754 billion
Yes, the city might have hit a bump because of the damage caused by the super typhoon Odette but rest assured Cebu will rise again as it always did.
The Commission on Audit (COA) has released their report that covered provinces, cities, and municipalities of the country who submitted their financial statements for the year 2020 released last December 22.
While on the top is Quezon City which has a record total asset of P452.333 billion earning the title of the wealthiest local government unit (LGU) in the Philippines for 2020.
From all 81 provinces and 145 out of 146 cities, we present to you the top 10 cities and provinces in the Philippines for the year 2020.
Wealthiest Cities in the Philippines
- Quezon City – P452.333 billion
- Makati City – P238.465 billion
- Manila – P76.548 billion
- Pasig City – P49.511 billion
- Cebu City – P34.754 billion
- Mandaue City – P32.571 billion
- Taguig City – P30.682 billion
- Davao City – P23.664 billion
- Caloocan City – P22.203 billion
- Zamboanga City – P19.775 billion
Wealthiest provinces in the Philippines
- Cebu – P213.005 billion
- Batangas – P25.236 billion
- Rizal – P23.053 billion
- Davao de Oro – P20.891 billion
- Bukidnon – P18.558 billion
- Negros Occidental – P17.17 billion
- Isabela – P16.614 billion
- Surigao del Norte – P15.787 billion
- Palawan – P15.737 billion
- Iloilo – P14.837 billion
Other Ranking Summary
- Retained spots in the top 10 were Manila, Pasig, Cebu City, Mandaue, and Taguig while Davao City climbed one spot from the previous year and Zamboanga City replaced Pasay.
- Cebu province remained to be the country’s wealthiest province with a total asset of P213.005 billion in 2020.
- Meanwhile, provinces like Batangas, Rizal, Davao de Oro, and Bukidnon, and Iloilo’s rankings were unchanged from 2019.