Disrupted by the crisis in the Middle East, the Philippine business events sector is shaping up for a gradual rebound in 2H2026, with industry optimism returning now that the energy market has begun to steady, bringing a welcome relief to local fuel costs.
As host to ASEAN 2026, the Philippines shifted 650 meetings from face-to-face to a virtual format in March, with the exception of the ASEAN 2026 Summit in Cebu in May, and another Summit to be held at the Philippine International Convention Center in November. The Philippine president also issued a directive for government agencies and government-owned and controlled corporations to shift from face-to-face to online events.
But as global fuel prices stabilise and domestic fuel prices roll back, Twin Lakes Hotel’s general manager Rowena Relucio is sanguine that meetings and conferences will gradually pick up in 3Q2026, observing that corporate events as well as small government, and ASEAN-related meetings are already starting to return.
Meanwhile, Carmela Bocanegra, vice president of sales and marketing for Filinvest Hospitality (formerly Chroma Hospitality), remains “cautiously optimistic”, anticipating selective growth and a gradual rebound in spending as budget approvals that were paused earlier begin to move again in 2H2026.
“MICE business will be on a controlled upswing, rather than experiencing the explosive growth expected at the beginning of the year before the global crisis,” Bocanegra noted.
Some stakeholders suggest introducing government subsidies for business events, pointing to clear models of state support in countries like Thailand and Singapore.
Margie Munsayac, chair of the Hotel Sales and Marketing Association, said: “Sometimes, the Philippines is at a disadvantage because our MICE packages are very much challenged compared to competitors like Bangkok and Vietnam.”
Munsayac conceded that the Philippines cannot compete head-on regarding price. While the country possesses the necessary attractions and capabilities, she emphasised that “the market also needs support in whatever form, but it is always about subsidies that will be needed to make MICE a lucrative business for everybody”.
Addressing the argument that a free market relies strictly on supply and demand rather than government-mandated pricing, Munsayac pointed to proactive governments in Japan and Thailand that utilise collaborative pricing commissions to support hotels and tour operators. She urged the Philippines to look beyond basic market forces, noting that the country must figure out how it can attract more international arrivals and reach more domestic travellers.
Michelle de Ocampo Ballesteros, president of the Philippine Marketing Association, agreed that “industries, including MICE, must have government subsidies during crises” because of their high-value impact on the economy.
Bocanegra also favours a government subsidy, provided the right framework is established. “MICE is a high-multiplier industry and can generate revenue for various sectors: hotels, airlines, F&B, retail, etc.,” she said.
“If the regional competition is already doing it, why can’t we? If done, it would be targeted, temporary, and performance-driven. It should be paired with structural improvements too, to replace them,” Bocanegra emphasised.
