Cebu Retains Title as PH’s Richest Province for the 10th Year

Cebu has once again been named the richest province in the Philippines, holding the top spot for an impressive 10th consecutive year. The province reported a 31% increase in its assets, reaching a remarkable ₱253 billion in 2023, according to the Commission on Audit.

This consistent achievement reflects Cebu’s robust economic foundation, driven by a booming tourism industry, thriving real estate developments, and a strong export market. In addition, strategic infrastructure projects, such as modernized ports and improved road networks, have also bolstered its growth, alongside successful public-private partnerships that continue to attract investors.

Governor Gwendolyn Garcia credited the milestone to sound governance and the hard work of Cebuanos, emphasizing that the province’s progress benefits its people. As Cebu strengthens its position as a leader in fiscal management and development, it remains a beacon of resilience and innovation, paving the way for sustained economic success in the years ahead.