BAGUIO CITY – This city registered a 5.8 percent economic growth in 2024 and remains the fastest growing economy among all Cordillera provinces and highly urbanized cities, the Philippine Statistics Authority-Cordillera said.

PSA-Cordillera Chief Statistical Specialist Aldrin Federico Bahit Jr. said this city’s Gross Domestic Product (GDP) last year was estimated at P178.85 billion compared to P169 billion in 2023.

He said the fastest growth was observed in professional and business services with 12.3 percent, followed by other services and human health and social work activities with 11.3 percent and 10.5 percent, respectively.

Baguio City is the largest economy in the Cordillera provinces and a highly urbanized city in the region as of 2024, contributing 47.3 percent of the gross regional domestic product (GRDP), estimated at approximately P378.26 billion.

According to Bahit, Baguio's per capita GDP is estimated at P485,433 in 2024, which is obtained by dividing the GDP of the province or city by its total population based on the 2024 Census of Population.

Other industries that contributed to the city's recorded GDP growth were financial and insurance activities, 10.46 percent; education, 7.5 percent; accommodation and food service activities, 7.4 percent; electricity, steam, water and waste management, six percent; real estate and ownership of dwellings, 5.2 percent; wholesale and retail trade and repair of motor vehicles and motorcycles, five percent; construction, 3.8 percent; agriculture, forestry, and fishing, 3.6 percent; public administration and defense and compulsory social security, three percent; information and communication, 2.9 percent; transportation and storage, 2.2 percent; mining and quarrying, two percent, and manufacturing, 0.4 percent.