Makati, Malabon top growth list
The City of Makati posted the fastest GDP growth in the region at 7.35 percent, followed closely by Malabon City at 7.27 percent. Both outpaced the NCR’s overall economic expansion rate of 5.6 percent for the year.
Six other highly urbanized cities also grew faster than the regional average, reflecting the broad recovery of Metro Manila’s urban economies amid increased business activity and consumer spending.
Services remain economic backbone
The services sector continued to drive NCR’s growth, accounting for more than half of total GDP among its cities.
Industries under services include:
The dominance of services underscores NCR’s role as the country’s financial and commercial hub, with strong contributions from banking, property development, and professional sectors.
Regional growth momentum
Analysts attribute the sustained economic expansion to post-pandemic investments, higher domestic consumption, and digital-driven business models that supported urban productivity in 2024.
Government planners said the continued diversification of services — from finance and real estate to education and health — is vital to maintaining NCR’s competitive edge as the Philippines’ economic center. —Ed: Corrie S. Narisma
