THE City of Lapu-Lapu has emerged as one of the highest and fastest-growing in terms of gross domestic product (GDP) per capita among provinces and highly urbanized cities (HUCs) outside the National Capital Region (NCR), according to the latest report from the Philippine Statistics Authority.
GDP per capita is a measure of the average economic output per person in a given area, such as a country, city or region. It is often used as an indicator of the standard of living and economic well-being of the residents in that area.
A higher GDP per capita generally indicates a higher standard of living, as it suggests that there is more economic output available per person.
Data from the results of the Provincial Product Accounts (PPA) showed that Lapu-Lapu City ranked third in the list of the 10 highest in GDP per capita in 2022 outside of the NCR, with its GDP per capita at P313,039.
It surpassed Cebu City, which ranked sixth on the list with P293,426, and Mandaue City, which ranked eighth with P274,376.
Lapu-Lapu City is home to Cebu’s international branded resorts and the award-winning Mactan-Cebu International Airport, which recently won as Asia’s Best Airport among 200 airports in the Asia Pacific under the “5 million passenger category” in this year’s Routes Asia Awards.
Baguio City posted the highest per capita GDP in 2022, amounting to P420,016, followed by Cagayan de Oro City, P343,936; Iloilo City, P306,444; Bataan, P297,930; Laguna, P287,280; Davao City, P258,811; and Batanes, P251,955.
According to the Philippine Statistics Authority (PSA), these top provinces and HUCs registered per capita GDP higher than the national average of P178,751.
Meanwhile, almost all provinces and HUCs in the Philippines experienced growth in their GDP per capita in 2022 compared to 2021.
Among the three HUCs in Cebu Province, only Lapu-Lapu City made it to the top 10 list, ranking seventh, with an 11 percent growth.
Aklan recorded the fastest per capita GDP growth of 21.5 percent, followed by Puerto Princesa City with 12.8 percent growth; Tacloban City, 12.1 percent; Nueva Vizcaya, 12 percent; Sorsogon, 11.1 percent; Davao Oriental, 11 percent; Batanes, 10.7 percent; Baguio City, 10.5 percent; and Zambales, 9.6 percent.
These top provinces and HUCs, according to the PSA, recorded growth rates faster than the national per capita GDP growth rate of 6.2 percent.
The PPA of the 16 pilot regions outside the NCR covered 82 provinces and 17 HUCs from November to December 2023.
The PPA is a mechanism to compile the GDP at the subnational level. This will provide stakeholders in the government and private institutions as well as those in the academe with sound indicators for evidence-based policies at the local level.
By 2025, the PSA envisions institutionalizing the PPA in all provinces and HUCs of all 17 regions in the country.
Earlier this year, Lapu-Lapu City was also recognized as the fourth fastest growing economy among provinces and HUCs outside the NCR in 2022.
Mayor Junard Chan had said that becoming more business-friendly by implementing the One-Stop Shop to streamline transactions, including processing of permits online, was one of the factors that contributed to the City’s success.
He said it also helped that the city’s lone district representative, his wife Cindi King-Chan, Vice Mayor Celedonio Sitoy and members of the City Council shared his goal to focus on improving the city’s infrastructure. / KOC