The Philippines' current annual revenues in Business Events (MICE) is $95 million or Php 5,336,102,500.00 out of the $14.3 Billion MICE receipts in ASEAN.

The business event industry in the Philippines aims to match Malaysia's MICE Industry which earns $927 million and draws 904,000 attendees. 

The business event industry in the Philippines generates income from foreign tourists who spend an average of P29,694.00 when they attend conventions and exhibitions in the country. (www.bilyonaryo.com)

Besides the economic gains, the business event industry in the Philippines is a social catalyst. 

It paves the way for knowledge exchange, stronger social and business partnerships, and strengthened cultural and national pride. 

Lastly, the business events industry in the Philippines places the country in the global spotlight. 

One of the memorable conventions and exhibitions that placed the Philippines in the global spotlight is Madrid Fusion Manila.

In summary, the event industry's contribution to the Philippines is very valuable in the economic and social aspects of the country. It remains as one of the high-value industries when further developed can bring the Philippines long-lasting economic and social benefits.