Metro Manila, Philippines — Quezon City emerged as the wealthiest local government unit in the country in 2022, according to data from the Commission on Audit (COA).
Based on COA’s 2022 Annual Financial Report (AFR) for LGUs, Quezon City retained the top spot among the richest cities for the third straight year, even though its reported assets dropped by around ₱8 billion to ₱443.4 billion last year from ₱451 billion in 2021.
Makati City was second richest with total assets amounting to P239.4 billion, followed by the City of Manila in the third spot with ₱77.5 billion.
Meanwhile, Mandaue City in Cebu province overtook Cebu City by almost ₱4 billion. In 2021, Cebu City, the capital of the province, was richer than Mandaue by around ₱300 million.
Rounding up the top 20 are the following LGUs:
Pasig City – ₱52.1 billion
Taguig City – ₱40.8 billion
Mandaue City – ₱34.2 billion
Mandaluyong City – ₱32.5 billion
Cebu City – ₱30.5 billion
Davao City – ₱29.7 billion
Parañaque City – ₱27.3 billion
Caloocan City – ₱27.2 billion
Zamboanga City – ₱23.4 billion
Laoag City – ₱20.9 billion
Antipolo City – ₱18.7 billion
Calamba City – ₱18.5 billion
Pasay City – ₱17.9 billion
Puerto Princesa – ₱16.7 billion
Baguio City – ₱14.4 billion
Cagayan de Oro – ₱13.6 billion
Valenzuela City – ₱13.3 billion
Municipalities
The 258-page report shows Carmona, Cavite remained the wealthiest municiality last year with ₱6.5 billion in total assets.
Limay, Bataan is second with ₱5.7 billion and third is Silang, Cavite with ₱4.4 billion worth of assets.
The following rounds up the top 10 wealthiest municipalities:
Caluya, Antique – ₱3.8 billion
Cabugao, Ilocos Sur – ₱3.8 billion
Cainta, Rizal – ₱3.7 billion
Taytay, Rizal – ₱3.6 billion
Claver, Surigao del Norte – ₱3.5 billion
Binangonan, Rizal – ₱3.4 billion
Sta. Maria, Ilocos Sur – ₱3.2 billion
The COA formally submitted the 2022 AFR to the Office of the President and congressional leaders on Sept. 26.
The Philippines has 147 cities and 1,487 municipalities.
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