MAKATI City has recorded a 6.3-percent increase in gross domestic product (GDP) in 2023, with the economy valued at P1.18 trillion.
Mayor Abigail Binay said the city’s performance is “not just about numbers, but has directly improved the quality of life for residents, creating meaningful changes and better services in health, education, and social services.”
Makati’s growth rate surpassed the Philippines’ national GDP growth of 5.6 percent which is recognized as the fastest among major Asian economies.
Key industries that fueled Makati’s economic growth in 2023 included accommodation and food service activities, and other services such as electricity, steam, water, and waste management.
“Economic growth is not just about numbers—it’s about ensuring that Makatizens feel the difference. With a stronger economy, we’ve been able to improve healthcare, provide better education, and expand social programs that uplift our communities. This is what progress should look like,” Binay said.
Makati’s strong economic foundation allows it to fund programs that create real benefits for its residents.
Healthcare initiatives remain a model for effective public service, with the Makati Health Plus (Yellow Card) providing free medical consultations, hospital care, and medications to close to 80,000 residents and city government employees.
The Ospital ng Makati and the Makati Life Medical Center continue to meet the needs of the city’s population, ensuring accessible and high-quality healthcare.
In education, the city supports students with free schooling, supplies, uniforms, digital learning tools, and scholarships for further education and skills training.
Social programs address the needs of Makati’s most vulnerable groups, including senior citizens and persons with disabilities (PWDs), through cash assistance, medical support, and targeted welfare programs.
The Philippine Statistics Authority (PSA) highlights Makati’s continued contributions to the country’s economic development through its Provincial Product Accounts (PPA), which covers all provinces and highly urbanized cities.
