The City of Makati (/məˈkɑːtɪ/ mə-kah-tee; Filipino: Makati), in the Philippines, is one of the sixteen cities that make up Metro Manila. Makati is located within the circle of 14′40″ °north and 121′3″ °E right at the center of Metro Manila. According to tradition, the first Governor-General of the Philippines, Miguel López de Legazpi, while exploring a swamp near the Pasig River, asked for the name of the place but, because of the language barrier, was misinterpreted by the Tagalog people. Pointing to the receding tide of Pasig River, the Tagalogs answered, “Makati, kumakati na,” literally meaning ebbing tide.
Makati is the financial center of the Philippines, it has a highest concentration of multinational and local corporations in the country. Major banks, corporations, department stores as well as foreign embassies are based in Makati. The biggest trading floor of the Philippine Stock Exchange is situated along the city’s Ayala Avenue.
With a population of 529,039, Makati is the 16th-largest city in the country and ranked as the 41st most densely populated city in the world with 19,336 inhabitants per square kilometer. Although its population is just half a million, the daytime population of the city is estimated to be more than one million during a typical working weekday because of the large number of people who go to the city to work, shop, and do business.
Makati is also known for being a major cultural and entertainment hub in Metro Manila.