Makati City Mayor Abby Binay proudly reported that the city has recorded the highest Gross Domestic Product (GDP) per capita in the country following the Philippine Statistics Authority's (PSA) latest report on Monday, Nov. 25.
According to the PSA, Makati posted the highest per capita GDP in the country at P1,778,002, a 4.9 percent increase from the previous year.
It also posted a 6.3 percent GDP growth in 2023, with the city’s economy valued at P1.18 trillion.
More than just numbers, Binay said this growth has directly improved the quality of life for Makatizens, created meaningful changes and better services in health, education, and social services.
“Economic growth is not just about numbers—it’s about ensuring that Makatizens feel the difference. With a stronger economy, we’ve been able to improve healthcare, provide better education, and expand social programs that uplift our communities. This is what progress should look like,” Binay said.
The PSA enumerated the key industries that fueled Makati’s economy in 2023 which included accommodation and food service activities which expanded by an impressive 27.2 percent, followed by other services with a growth of 14.1 percent, and electricity, steam, water, and waste management at 9.2 percent.
This strong economic foundation has also allowed the city government to implement and sustain programs that create real benefits for its residents.
"Makati’s healthcare initiatives remain a model for effective public service. Close to 80,000 residents and city government employees benefit from the Makati Health Plus (Yellow Card), which provides free medical consultations, hospital care, and medications," the city government said.
"The Ospital ng Makati (OsMak) and Makati Life Medical Center continue to meet the needs of the city’s population, ensuring accessible and high-quality healthcare. In education, the city continues to support students with free schooling, supplies, uniforms, and digital learning tools such as tablets, while scholarships provide opportunities for further education and skills training. Social programs continue to address the needs of Makati’s most vulnerable groups, including senior citizens and persons with disabilities (PWDs). Initiatives like cash assistance for seniors, medical support, and targeted welfare programs have helped improve living standards and reduce inequality," it added.
“In Makati, progress means making sure everyone benefits. From providing free healthcare and improving education, we aim to create a city where every resident feels the impact of our economic success,” the mayor explained.
The PSA, through its Provincial Product Accounts (PPA), highlighted Makati’s continued contributions to the country’s economic development.
The PPA, which now covers all provinces and highly urbanized cities (HUCs), provides a clearer picture of how cities like Makati significantly drive national progress.