Parañaque City continues its remarkable economic ascent, climbing to the 7th spot among the richest highly urbanized cities in the Philippines, according to the latest 2024 data from the Philippine Statistics Authority (PSA).
City Treasurer Anthony Pulmano announced the milestone, highlighting that the city GDP per capita — which measures the total value of goods and services produced per resident — has placed Parañaque firmly among the country top-performing urban economies. This represents a significant leap for a city that has undergone dramatic transformation over the past decade.
The driving forces behind Parañaque economic rise are diverse and powerful. Entertainment City, the integrated gaming and entertainment complex along Manila Bay, continues to attract world-class resorts, hotels, and leisure destinations that generate substantial revenue and employment. Major infrastructure projects, including improved road networks and developments connected to the NAIA Expressway and LRT-1 extension, have made the city more accessible and business-friendly.
Parañaque has also earned the moniker “Iconic Bay City”</ as it leverages its prime location along Manila Bay to become a hub for tourism, commerce, and residential development. The city barangays, from bustling Bicutan and San Antonio to the rapidly developing BF Homes and Don Bosco, each contribute to a diverse economic ecosystem that serves both local residents and the greater Metro Manila population.
Business leaders and urban planners point to Parañaque strategic investments in public services, disaster preparedness, and business-friendly local governance as key factors in its economic competitiveness. The city ability to attract both domestic and international investment while maintaining quality of life for residents sets it apart from neighboring cities.
The PSA ranking considers factors including total revenue, infrastructure spending, and economic output per capita — all areas where Parañaque has shown consistent growth year over year. With major development pipelines still underway, economic analysts project that Parañaque could climb even higher in future rankings.
For residents and business owners, the ranking is more than just a number — it reflectsParañaque growing stature as a premier destination for commerce, living, and opportunity in the National Capital Region.
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