Davao City recorded the fastest economic growth in the Davao Region at 7.9 percent in 2024, outpacing the regional average of 6.3 percent, according to data from the Philippine Statistics Authority (PSA).
The city’s growth also surpassed that of all provinces in the region, with Davao del Norte at 5.4 percent, Davao del Sur at 4.9 percent, Davao Oriental at 4.0 percent, Davao Occidental at 3.9 percent, and Davao de Oro at 3.1 percent.
The PSA report, released on October 9, 2025, revealed that Davao City’s Gross Domestic Product (GDP) was valued at Php 574.72 billion in 2024, marking an increase of Php 42.19 billion from Php 532.52 billion in 2023. The report was presented before key stakeholders during the 2024 Economic Performance of the Davao Region forum held at the Apo View Hotel.
Among industries, construction registered the fastest growth at 19.1 percent, followed by transportation and storage at 12.6 percent, and “other services”—comprising personal, support, and miscellaneous services—at 10.8 percent. These sectors were identified as major contributors to the city’s overall economic expansion.
Davao City Planning and Development Coordinator Ivan C. Cortez, in a message delivered through a representative, said Davao City’s economic performance “stands as a testament to its resilience and progress,” underscoring that the city’s diverse economy continues to benefit from effective programs and policies fostering growth across key sectors.
“The city’s economic gains align with its medium- and long-term development goals, as industries such as construction, trade, finance, and tourism exceeded expectations,” he said. Cortez added that these results reflect the success of inclusive growth strategies consistent with the Comprehensive Development Plan and the Sustainable Development Goals (SDGs).
Looking ahead, Cortez noted that global market fluctuations, inflationary pressures, and fuel price volatility could influence growth in 2025. He added that various social challenges in health, education, and urban migration highlight the need for sustained investments in social services and inclusive development, while environmental risks such as typhoons and flooding continue to threaten agriculture, infrastructure, and local livelihoods.
“Strengthening climate resilience and integrating disaster risk reduction into all levels of development planning remain top priorities to ensure sustainable and adaptive growth,” Cortez said.
He added that despite challenges, Davao City’s economic outlook remains strong. Major projects such as the Davao–Samal Island Bridge, Davao City Coastal Road, Sasa Port Modernization, and the Public Transport Modernization Program are expected to spur new growth areas, generate jobs, and enhance investor confidence. Integrating green economy initiatives, smart city technologies, and inclusive urban development into the city’s plans will further sustain competitiveness and resilience.
Cortez also said that as a pilot area of the Provincial Product Accounts (PPA), Davao City has demonstrated the importance of localized GDP data in guiding evidence-based planning.
“The PPA provides valuable insights for monitoring industry performance and policy outcomes. Through continued collaboration among government, the private sector, and the community, Davao City remains on course to becoming a leading urban economy in Mindanao,” he said. CIO
