Western Visayas sees steady rise in family income

By Francis Allan L. Angelo

Family incomes in Iloilo City surged in 2023, with the city posting an average annual income of PHP 478,730, placing it 12th among the 31 highly urbanized cities (HUCs) in the Philippines.

The number is a significant leap for Iloilo City, surpassing Baguio and trailing only behind Angeles City outside Metro Manila, according to an analysis by Iloilo-based think tank Institute for Contemporary Economics (ICE) using data from the 2023 Family Income and Expenditure Survey (FIES) of the Philippine Statistics Authority.

In contrast, Iloilo province saw more modest gains, with the average family income rising to PHP 317,320, ranking 27th among the 88 provinces.

The average annual family income in the Philippines has risen by 15% since 2021, reaching PHP 353,230 in 2023.

The figures also revealed a nuanced picture of income distribution across regions and provinces, with Western Visayas showing modest improvements.

Western Visayas, home to major provinces like Iloilo, Aklan, and Negros Occidental, ranked seventh among the country’s 18 regions, with an average annual family income of PHP 320,230.

Aklan led the region with an average of PHP 329,010, making it the wealthiest province in Western Visayas and placing 22nd nationwide.

Meanwhile, Iloilo province, with an average family income of PHP 317,320, ranked 27th among the 88 provinces surveyed.

However, not all areas in Western Visayas shared in the prosperity. Negros Occidental, one of the region’s most populous provinces, reported an average annual income of PHP 241,780, ranking 72nd among provinces nationwide.

Bacolod City, the capital of Negros Occidental, fared better than the province, with an average income of PHP 367,160, placing it 26th among highly urbanized cities.