Davao is country's 5th richest city

Subscribe Now May 18, 2012 at 07:57am

Davao City has been cited as the fifth richest city in the whole country with an average income of P3,534,206,628, making it the lone city from outside Luzon that has been included in the top five richest cities, based on the cities' income for the years 2007-2009. In its March report, Romulo A. Virola, secretary general of the National Statistical Coordination Board (NSCB), ranked cities from the top to lowest earners based on the cities' average annual income in three-year period.

But the data presented by Virola in his report posted in their www.nscb.gov.ph was three years late.

Data from the Department of Finance showed that Quezon City appeared to be the richest city in the whole country for the same period with an average annual income of P9,481,843,421, followed by Makati City at the second place with the average income of P8,506,297,825, Manila City in third place with P7,947,958,242, and Pasig City ranking fourth with an average income of P4,542,992,364.

Cebu City with an average income of P3,347,869,301 grabbed the six spot, placing next to Davao City.

Davao and Cebu cities are the lone cities from outside Luzon that have been included in the top 10 richest cities across the country.

"Averaged over the three-year period from 2007-2009, the top income earners were the same five cities," Virola said.

The other cities included at the top 10 richest cities in the country from the top seven down to top ten include the cities of Caloocan, Paranaque, Muntinlupa, and Taguig with an average annual income of P3,064,732,758; P2,977,948,388; P2,448,908,683; and P2,281,171,091, respectively.

"The NSCB Technical Staff has been exerting efforts towards good governance in our country. By presenting comparative statistics on income and expenditure patterns of local government units, we hope to contribute not only towards informed decision-making by our political leaders but more importantly, towards informed choices during elections by the governed," Virola said.

Source: sunstar.com.ph

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