Mesa Heights, New Manila, Cubao, and Ugong Norte—all in Quezon City. BF Resort in Las Piñas, Ermita in Manila, Valle Verde in Pasig, and Pasay City also house some of the country's wealthiest. Outside Luzon, Mandaue City in Cebu and Iloilo City are also home to the richest Filipinos.
The province of Cebu topped the ranking of the wealthiest provinces in the Philippines, with assets amounting to approximately 215.27 billion Philippine pesos in 2021.
Forbes has just released its annual Billionaires list, and the number of dollar billionaires from the Philippines had dropped from 20 in 2022 to only 14 in 2023.
Forbes Park (Makati)
Often referred to as the “Beverly Hills of Manila. Inside you can find landscaped gardens and luxurious mansions next to the country's wealthiest from celebrities, businessmen, expats, and more.
MANILA, Philippines — Real estate and retail tycoon Manuel Villar, chairman of the Villar Group, remains the country's richest man, according to the Forbes 2023 World's Billionaires list.
Tessie has a net worth of $2.2 billion, making her the richest woman in the country. Meanwhile, Elizabeth leads the group's leisure, tourism, and hospitality work as president and chairperson of SM Hotels and Conventions. She has also been an adviser of SM Investments since 2012. She has a net worth of $2 billion.
According to The Intelligence Lab at Knight Frank, in the Philippines, you'd need $60,000 or P2. 9 million in the bank to be considered among the one percent. That's the same amount required in Indonesia and India to be considered in the upper echelon of the economic ladder.
As of 2022, the Bangsamoro Autonomous Region in Muslim Mindanao has the highest incidence of poverty in the country at 37.2% while Metro Manila has the lowest at 3.5%.
Makati City. Makati City is the financial hub of the Philippines. Naturally, it is the richest city in the Philippines with a net worth of Php34. 461 billion.
In the Philippines, you can be considered “rich” if you earn at least P182,000 and up each month. You are “high income” if you make P109,200 to P182,000; “upper middle income” if you take home between P63,700 to P109,200; and middle class if you earn between P63,700 to P109,200 each month.
Notable Philippine political dynasties include the Marcos, Aquino, Binay, Macapagal, Duterte, and Roxas families.
Quezon City is still the country's wealthiest city in terms of assets, while Cebu remained on top as the richest province. A 2021 report by the Commission on Audit (COA) indicated that Metro Manila's largest and most populous city has assets totaling P451. 007 billion. On the other hand, Cebu has P215.
It must be daunting to lead a barangay situated deep in the heart of the country's central business district (CBD), with two of the country's most exclusive subdivisions, Bel-Air and Salcedo Villages. But it comes with a great advantage, too, because Barangay Bel-Air is known to be the richest barangay in the country.
The IMF projects Vietnamese GDP per capita to be US$3,498 in 2020 versus the Philippines' US$3,373. It has been a long but steady climb. Vietnam's income per capita was just 83% of the Philippines' in 1980 so it took four decades.
Makati is the financial center of the Philippines; it has the highest concentration of multinational and local corporations in the country. Major banks, corporations, department stores as well as foreign embassies are based in Makati.
Cebu has a population of 2.5 million and is the oldest city and the first capital of the Philippines. Under Spanish rule for three centuries, Cebu has the oldest university, San Carlos University, and the oldest street, Colon Street, built by the Spaniards.
CITY OF MALOLOS- Among 81 provinces in the Philippines, Bulacan was hailed as the number 1 performing province in highest nominal locally sourced revenues for fiscal year 2020 based on a list issued by the Bureau of Local Government Finance under the Department of Finance recently.
Bohol just might be the safest area in the Philippines, with an overall crime index of just 7.14 – and that is with a pretty moderate rise in crime over the last few years.
The Philippines possesses diverse natural resources and is globally recognized for its significant level of biodiversity. In 2021, the country's GDP per adult came in at $5,580, categorizing it as one of the poorest Asian countries.
Philippines ranks 77th out of 132 countries in 2022 Global Knowledge Index. The Philippines placed 77th among 132 countries of a London-based nonprofit's 2022 Global Knowledge Index, which assesses a nation's expertise in terms of education, innovation, knowledge, economy, technology, and research and development.
Despite such differences, these Philippines average salaries can give you a better overview of the Filipino population and economy. So what's the average salary in Philippines? The average salary in the Philippines was PHP 161,847.60/year ($3,218). The median salary in the Philippines was PHP 655,200/year ($12,955).