Makati City 8.08

Makati, officially the City of Makati, in the Philippines, is one of the sixteen cities that make up Metro Manila.Makati is the financial center of the Philippines; it has the 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. Makati is also known for being a major cultural and entertainment hub in Metro Manila.With a population of, Makati is the 17th-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 day because of the large number of people who go to the city to work, shop, and do business.EtymologyTradition holds that a Tagalog at a swamp on the south of the Pasig River was asked by a visitor, who was Miguel López de Legazpi, for the name of the place. As a result of the language barrier the question was misinterpreted; the Tagalog pointed to the receding tide of the Pasig River, and answered "Makati, kumákáti na" ("Ebbing, the tide is ebbing").