Overview: Ilocos Sur tops COA 2024 revenue ranking
In a surprising shift for the fiscal landscape, Ilocos Sur has been named the country’s top revenue-earning province for 2024 by the Commission on Audit (COA). The province dethroned Bulacan, which had dominated the rankings in recent years, signaling a pivotal change in the regional economic balance across the Philippines.
What COA measures and why it matters
The COA’s annual revenue ranking comptests the performance of local government units based on their total internal revenue collections and the efficiency of tax administration, fees, and other local sources. While national GDP growth often centers on large urban hubs, COA’s data highlights how local contexts—such as tourism, agriculture, manufacturing, and service sectors—shape fiscal outcomes. A top spot can reflect stronger tax collection, improved local policies, and growing economic activity within a province’s borders.
Key drivers behind Ilocos Sur’s ascent
Analysts point to several contributing factors behind Ilocos Sur’s 2024 surge. First, sustained tourism activity and heritage-driven visitation continued to inject cash into local businesses, hotels, and eateries, supporting a broader revenue base beyond traditional tax streams. Second, investments in infrastructure and logistics improved supply chains for local producers, boosting trade and fees collection. Third, a gradual diversification of revenue sources—such as local permits, business licenses, and service fees—helped stabilize income in fluctuating markets.
Additionally, consistent governance reforms and more robust revenue administration within the province may have enhanced compliance and timely remittance of local taxes. While Bulacan remains a strong economy with significant spending, Ilocos Sur’s gains illustrate how targeted policy decisions at the provincial level can shift the revenue balance.
Bulacan’s decline and the broader context
Bulacan’s drop to the second spot does not diminish its overall economic vitality. The province continues to be a major contributor to the nation’s economy, with sizable industrial activity and a broad tax base. The shift simply reflects a year of relative changes in revenue performance. In the broader context, the COA ranking echoes how regional dynamics—urbanization patterns, tourism cycles, and local investment climates—affect provincial fiscal health. Stakeholders should examine where Ilocos Sur made gains and how neighboring regions might adapt to maintain momentum.
Implications for policy and investment
The 2024 rankings can influence provincial planning and investment priorities. For Ilocos Sur, maintaining this top position may hinge on sustaining tourism demand, supporting small and medium enterprises, and enhancing ease of doing business locally. For other provinces, the COA data offers a diagnostic tool to identify revenue gaps, reform bottlenecks, and replicate successful practices, such as modernized tax administration or diversified fee structures.
What to watch next
Observers will be looking at how the 2025 COA results compare, as well as how macroeconomic factors—such as consumer demand, inflation, and national fiscal policy—shape provincial revenue in the year ahead. Local governments may respond by refining revenue-raising strategies, expanding tourism products, and investing in infrastructure that supports commerce. The COA’s figures serve as a benchmark for accountability and a guide for strategic development across the country’s 80+ provinces and highly urbanized cities.
Conclusion
The rise of Ilocos Sur to the top revenue earner position in 2024 highlights the shifting landscape of regional economics in the Philippines. While Bulacan remains a powerhouse, Ilocos Sur’s performance demonstrates how proactive governance and market diversification can yield stronger fiscal outcomes at the provincial level. As provinces study this year’s data, the COA rankings will likely influence policy choices, investment decisions, and the ongoing quest for resilient, inclusive growth nationwide.
