DAVAO CITY — Davao City has emerged as the fastest-growing economy in the Davao Region for 2024, posting a robust 7.9 percent growth rate — surpassing the region’s overall economic growth of 6.3 percent, according to the latest data released by the Philippine Statistics Authority (PSA) on Thursday, October 9, 2025.
The PSA report showed that all provinces and the highly urbanized city (HUC) in the Davao Region experienced economic expansion in 2024 compared to their 2023 levels. Trailing Davao City were Davao del Norte with 5.4 percent growth, Davao del Sur with 4.9 percent, Davao Oriental with 4.0 percent, Davao Occidental with 3.9 percent, and Davao de Oro with 3.1 percent.
Among these, only Davao City recorded growth higher than the regional average, underscoring its position as the economic hub of Mindanao.
The report further highlighted that all economies in the Davao Region remain services-based, underscoring the sector’s continued dominance in the regional economy. Services contributed significantly to each province’s gross domestic product (GDP): 45.4 percent in Davao de Oro, 51.8 percent in Davao del Norte, 46.9 percent in Davao del Sur, 50.3 percent in Davao Occidental, 63.8 percent in Davao Oriental, and 70.3 percent in Davao City.
The services sector includes industries such as wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, accommodation and food service activities, information and communication, financial and insurance activities, real estate, professional and business services, public administration, education, and health and social work activities.
Davao City’s strong performance reflects its sustained recovery and growth across key services such as trade, tourism, and real estate, reinforcing its role as a major economic driver not only for the region but also for the entire Mindanao island.