Quezon City (QC) topped the list as the country's richest local government unit (LGU) with total assets amounting to more than P451 billion in 2021, while Makati City, the top contender in 2019, came in second with assets worth P238.5 billion.
The list of richest LGUs was contained in the Commission on Audit's (COA) 215-page Annual Financial Report (AFR) for the local governments which was released last Oct. 10.
The report stated that QC's assets actually took a P1 billion dip in 2021, since its assets in 2020 amounted to P452.3 billion. On the other hand, Makati City's assets in 2021 were a bit higher compared to its reported P238.4 billion in 2020.
Based on COA’s AFR, the top 10 wealthiest cities in 2021 are:
1. Quezon City – P451.007 billion
2. Makati City – P238.562 billion
3. Manila – P65.253 billion
4. Pasig City – P51.176 billion
5. Taguig City – P36.117 billion
6. Cebu City – P33.343 billion
7. Mandaue City – P33.007 billion
8. Mandaluyong City – P31.440 billion
9. Davao City – P26.556 billion
10. Caloocan City – P23.383 billion
The top four cities secured the same spots in 2020, although Taguig City managed to elbow Cebu City in 2021, the report said. Mandaluyong City was not in the list in 2020 but jumped to eighth place in 2021, while Zamboanga City was booted out from the top 10, it said.
On the other hand, the top 10 wealthiest provinces in 2021 are:
1. Cebu – P215.27 billion
2. Rizal – P30.638 billion
3. Batangas – P29.705 billion
4. Davao de Oro – P23.211 billion
5. Bukidnon – P19.455 billion
6. Negros Occidental – P18.025 billion
7. Ilocos Sur – P17.907 billion
8. Iloilo – P17.399 billion
9. Isabela – P16.419 billion
10. Palawan – P16.109 billion
Rizal province was the biggest performer in 2021, with a P7 billion increase from its P23.053 billion in 2020, the report said. Iloilo's assets also moved from the 10th spot in 2020 to the eighth spot in 2021, while Isabela dropped from seventh to ninth place in 2021.
COA’s report said the wealthiest municipalities are:
1. Carmona, Cavite – P6.212 billion
2. Limay, Bataan – P4.795 billion
3. Silang, Cavite – P3.738 billion
4. Cainta, Rizal – P3.393 billion
5. Taytay, Rizal – P3.274 billion
6. Binangonan, Rizal – P3.141 billion
7. Caluya, Antique – P3.117 billion
8. Sta. Maria, Ilocos Sur – P3.044 billion
9. Cabugao, Ilocos Sur – P2.967 billion
10. Rodriguez, Rizal – P2.915 billion
Based on the list, COA’s report stated that Carmona was the best performer as it managed to climb from seventh place in 2020 to number one in 2021. Sta. Maria and Cabugao, both from Ilocos Sur, are new to the list and managed to edge out Mariveles in Bataan and Sual in Pangasinan.
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