DAVAO City and Davao de Oro have emerged as the wealthiest city and province in Mindanao, respectively, based on the 2022 Annual Financial Report on Local Government Units released by the Commission on Audit .According to the COA's AFR, Davao City's total assets increased to P29.701 billion from P26.555 billion in 2021. This marks a steady increase from P23.664 billion in 2020, P19.78 billion in 2019, P16.259 billion in 2018, P13.181 billion in 2017, and P9.898 billion in 2016.
Although this represents a slight decrease from the previous year's P23.211 billion, the province has kept its position in the rankings.Joining the list this year is Bukidnon, a province in Mindanao, with total assets amounting to P21.058 billion. However, no municipality from Mindanao made it to the top 10 list of wealthiest towns in the country.Cebu Province remains the undisputed leader, retaining its title as the wealthiest province in the country for the ninth consecutive year.
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