PARANAQUE City Treasurer Anthony Pulmano announced yesterday that Parañaque has secured the 7th spot among the richest highly urbanized cities (HUCs) in the Philippines based on Gross Domestic Product (GDP) per capita, according to the latest data from the Philippine Statistics Authority (PSA) for Calendar Year 2024.
“Makati remains the richest city in the country in terms of GDP per capita, while Caloocan ranks as the poorest. Parañaque, however, has demonstrated strong economic performance, surpassing Taguig, Quezon City, and Muntinlupa,” Pulmano said.
He explained that GDP per capita measures the total value of goods and services produced in a city divided by its population — serving as a key indicator of economic productivity and individual income share, rather than overall wealth alone.
“This ranking shows that Parañaque continues to grow steadily. Despite our increasing population, our economic output per person remains robust — a reflection of efficient fiscal management, strong local governance, and sustained investor confidence,” Pulmano added.
Pulmano credited this success to the excellent leadership of former Mayor Eric Olivarez and now Mayor Edwin Olivarez, whose administrations, he said, “have built a legacy of sound economic stewardship and transparent governance.”
“Under the leadership of Mayor Edwin Olivarez and former Mayor Eric Olivarez, Parañaque has remained fiscally strong and socially inclusive. Their vision and continuity in governance have created a stable environment for investors and sustained growth for our people,” Pulmano emphasized.
He added that both leaders’ commitment to good governance and innovation “ensured that every peso of public fund was used efficiently, resulting in improved services, stronger infrastructure, and a better quality of life for every Parañaqueño.”
Pulmano further noted that while Quezon City still leads in total local income, its large population reduces its per capita GDP compared to smaller but highly productive cities like Parañaque, Pasay, and San Juan.
“The data confirms that Parañaque’s economic management is sound. We are not only increasing revenues but ensuring that growth translates into higher productivity and better opportunities for our residents,” he said.
According to the PSA, Makati City topped the rankings due to its smaller population and high concentration of business activity, while Parañaque’s rise to the 7th spot underscores its balanced growth — driven by fiscal discipline, business expansion, and inclusive urban development.
Meanwhile, Caloocan City, despite its large population density, ranked lowest due to fewer high-value industries and lower productivity per person.
