It began as a settlement for Chinese converts to Catholicism. Four centuries later, the world’s oldest Chinatown is a living reminder of how migration can shape a nation.
At its height, Binondo was the Philippines’ commercial capital. From here, Tsinoy merchants – “Tsinoy” being a blend of the words Tsina (Chinese) and Pinoy (Filipino) – built their fortunes in banking, retail and trade.
Some of the country’s richest families can trace their roots to this single square kilometre of Manila: five of the Philippines’ 20 wealthiest people are of Chinese descent, according to Forbes.
The Sy siblings, whose empire spans property, retail and banking, top the Philippines’ richest 50 list with an estimated net worth of US$11.8 billion.
Metro Manila’s present-day financial heart has since shifted to Makati, but Binondo’s legacy endures as much more than just a cradle of fortune. For many, it represents a shared cultural memory and identity.
