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Showing posts with label Richest cities outside Metro Manila.. Show all posts
Showing posts with label Richest cities outside Metro Manila.. Show all posts

Wednesday, March 20, 2024

Baguio ranks first among richest cities outside Metro Manila

Photo Courtesy || Jimzpics Photog

Cordillera - Baguio City was hailed as the wealthiest city outside Metro Manila according to the Provincial Product Accounts (PPA) released by the Philippine Statistics Authority (PSA). It means Baguio residents has higher income earning compared to the average national income of Filipinos.

As per the data release by PSA, the city's average Gross Domestic Product (GDP) per person reached P420.016 surpassing the average of P178,751.

GDP measures the growth of the economy per person in a particular area. It is use to determine how wealthy or poor an area is.

Following in the list of top 10 wealthiest cities are Cagayan de Oro in the 2nd spot, Lapu-Lapu City, Iloilo, Bataan, Cebu City, Laguan, Mandaue, and Batanes. 

Baguio City, nestled in the mountainous region of the Philippines, stands out as the wealthiest city in the Cordillera Administrative Region (CAR). Known for its cool climate, stunning mountain landscapes, and rich cultural heritage, Baguio City attracts both local and international tourists.

One of the key factors contributing to Baguio's wealth is its thriving tourism industry. The city is home to a variety of attractions, including Burnham Park, Mines View Park, and the Botanical Garden, which draw in visitors year-round. 

Additionally, Baguio's reputation as a culinary destination, with its diverse array of restaurants and street food stalls, adds to its economic prosperity.

Another important source of wealth for Baguio City is its education sector. The city is home to several prestigious universities and colleges, including the University of the Philippines Baguio and Saint Louis University, attracting students from across the country and beyond.

Furthermore, Baguio's economy benefits from its status as a center for commerce and trade in the region. 

The city's bustling markets and shopping centers, such as Session Road and the Baguio City Market, are popular destinations for both locals and tourists alike.

Overall, Baguio City's wealth can be attributed to its vibrant tourism industry, thriving education sector, and robust commercial activities. As the city continues to grow and develop, it is likely to remain a key economic powerhouse in the Cordillera region.


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