How Filipinos will spend, live, eat and travel in 2026, according to industry experts

Across sectors, optimism was tempered with caution. Uppal cited reforms, government spending and consumer confidence as upside drivers—while currency depreciation and inflation remain key risks. Boutwood noted that rising costs cannot simply be passed on to diners, while Oberoi pointed to ASEAN summits and improved connectivity as potential boosts to tourism.

Varona described 2026 as a year of discernment, where domestic consumption fuels growth even as public markets lag. Jugo echoed this, warning that in uncertain times, the greatest risk for businesses may be inaction itself.

Sandeep Uppal (Finance): The biggest opportunity for 2026 lies in government spending and reforms picking back up by the middle of the year. However, a significant downside risk is the depreciation of the currency; since the Philippines imports food, energy and goods, a weak peso directly impacts inflation. We must also watch consumer credit closely, which has been growing at over 20 per cent year-on-year. There is a massive opportunity to develop our capital markets to give entrepreneurs better access to funding beyond simple bank loans.

Josh Boutwood (Food Industry): One of our greatest opportunities is the ‘Michelin effect’, which is raising the benchmark for the entire industry. The risk, however, is the volatility of ingredient costs; we cannot simply increase prices every time the cost of produce like onions spikes without damaging our relationship with customers. We have to be smarter, absorbing costs and waiting for stability to maintain our ‘optics’. Another risk is the influx of ‘accolade-chasers’—people entering the industry just for the stars without having a real foundation in hospitality.

Amit Oberoi (Hospitality): The Philippines hosting the ASEAN summits throughout 2026 is a huge opportunity for city hotels. This will bring a constant stream of high-level visitors from February to November. The main challenge remains connectivity; we lack enough direct flights to major destinations like India or various European cities. Furthermore, the airport situation and visa restrictions continue to act as bottlenecks for international tourism. If we can improve mobility—how we move people and goods—the upside is massive.

Franco Varona (Technology & VC): The buzz of domestic political issues is often baked into the investment risk of emerging markets, but as long as it doesn’t stay in the headlines, investors remain confident. A major opportunity is the digitisation of money; before the pandemic, few used G-Cash, but now it’s ubiquitous, opening doors for commerce and logistics. The biggest risk is our public market, which is among the worst-performing globally. We need a catalyst—like a major IPO—to bring institutional and retail investors back into the fold.

Mike Jugo (Real Estate): Consumer and investor confidence is returning as the environment stabilises. The biggest opportunity is in serving a more informed client who expects global standards and integrated services. Paradoxically, the greatest risk for companies right now is doing nothing—staying stagnant out of fear of uncertainty. We see an opportunity to transform our organisations to be more agile and anticipatory. On the residential side, while oversupply is a topic, properties that are special and intentional continue to see high demand.

Marleen Go-Uyecio (Homes): Consumers are far more discerning now and expect a higher level of expertise. Communicating clearly with the end user has become essential, and the brand story matters more than ever. For us, it always comes back to staying true to our core values. Even when others cut corners, integrity should be the starting point because when leadership leads with integrity, the rest of the organisation follows.

Irene Martel Francisco (Publishing): In the digital space, it’s increasingly important to present a balanced view on social issues, so readers aren’t pulled in one direction by political agendas. There has also been a swing—particularly in the US—towards overusing AI. As a result, brands are now actively seeking authenticity, and audiences can tell what has been AI-generated and what hasn’t.

Isabel Francisco (Content Creation): Today, diners are effectively their own inspectors. We constantly analyse our data to understand what resonates and what doesn’t. There are times when the content team finds a story compelling, but the audience simply doesn’t engage. What people are really looking for now is connection: opportunities to network, interact and feel personally involved.

Artificial intelligence emerged as the most debated disruptor. While finance, hospitality, publishing and retail acknowledged AI’s efficiency gains, there was consensus that human judgment, creativity and service remain irreplaceable. As Uyecio noted, the challenge is making technology feel lived-in—not manufactured.

Sandeep Uppal (Finance): AI is the biggest disruptor, and the BPO sector is the most exposed to it. However, the change won’t happen overnight; we have a five-year window to upskill the 1.8 million people in that industry. In banking, real-time digital payments are disrupting traditional models by enhancing the velocity of money and creating new business opportunities. We must move up the value chain to stay relevant, focusing on the demand for human expertise where AI cannot yet compete.

Josh Boutwood (Food Industry): While AI can help with back-end disruptions like purchasing or guest tracking, it cannot replace the human connection in the dining room. The real disruption is the ‘crowdsourced opinion’—platforms where random ratings can impact a restaurant’s reputation. We have to deal with tough Google reviews that are sometimes subjective and unreasonable. To combat this, we focus on making the service and ambience ‘perfect’ so that even if a flavour profile isn’t to someone’s liking, they still enjoy the experience.

Amit Oberoi (Hospitality): Generative AI is disrupting how people search for travel; instead of Google, they use ChatGPT to ask for hotel recommendations. This is dangerous because AI might pull info from an eight-year-old review. We are also seeing a disruption in traditional hotel amenities; guests no longer feel they must use the hotel gym or eat breakfast inside—they want to explore the surrounding city. We’ve had to change our concierge mindset to recommend the best of the city, not just the best of the hotel.

Franco Varona (Technology & VC): I’m not going to ignore AI, but we don’t think that AI is the type of innovation that will come out of the Philippines right now; perhaps it will be used for efficiency’s sake. My whole fund was started on the concept of the digitisation of money in the Philippines... The second you digitise the money, you digitise everything—commerce, logistics... Brand new industries have come up out of nowhere. You can make eight of yourself on a screen. It’s going to take a lot of reform and a lot of education, actually, to get retail investors kind of involved.

Mike Jugo (Real Estate): The pandemic disrupted how we view living spaces, and now clients expect services to be integrated into their residential experience. We have to look at how organisations have changed; the disruption isn’t just external but internal. We are using technology to be more agile, but the real challenge is keeping up with the discernment of the buyer. They are shopping in Japan and Europe and bringing those high expectations back to Makati and BGC.

Marleen Go-Uyecio (Homes): We do AI, but to make it higher or on our level, we have to make it look as if it’s in a house that was lived in. The beauty of it, as well as the imperfections, is now valued. It’s important to note that when you look at the picture, ‘oh, this is AI’, even ads or pictures, interior design, everything. It will move to making it authentic... a change from accepting, and then there’s a resistance now, and then later on, I think it will move to making it authentic.

Irene Martel Francisco (Publishing): I think a lot of people are using AI at the moment... in various ways, for publishing. We’re using it for efficiencies, to help us with research, but at the end of the day, you still need the human touch to curate and to write the stories. AI cuts down the production time by a lot, but it cannot replace [humans]. Social media, how it’s given everyone such a public voice, has been great, and then not so great, because they can say anything about any brand and start ranting or raving about it.

Isabel Francisco (Content Creation): I’m kind of like it because I’m part of that [media]. I can’t say much, but we can take a centrist point of view and say, what are the pros and cons of overusing and over-taxing a certain group of people and not compensating them? It all boils down to fairness. I think from a content perspective... if you want to enter the publishing industry, it’s changed a lot. So now we’re not just a magazine anymore. We’re more digital than anything.

From digital payments and fintech to sustainable farming partnerships and inclusive city-building, innovation was framed less as novelty and more as responsibility. Integrity, adaptability, and continuous learning emerged as shared advice across industries—alongside a reminder that progress must be anchored in people.

Sandeep Uppal (Finance): I am most excited about the potential for a vibrant, micro-investment capital market. In India, people can start building a portfolio with just $3 to $7 a month; if we can implement that here through digital innovation, our drivers and helpers could own a piece of the economy. This would create a $3 billion-a-month pool of capital for entrepreneurs to tap into. Real-time payments and digital transparency are the innovations that will ultimately drive tax collection and GDP growth.

Josh Boutwood (Food Industry): I’m excited about innovations that help us localise our supply chain. We are working with farms in Mindanao to teach them about picking when ripe and improved logistics, so we can reduce our carbon footprint. While I’m sceptical of AI in the kitchen, I’d love a device that could log my conversations with guests so I can remember every detail of their previous visits without needing to hold 50 different conversations in my head at once.

Amit Oberoi (Hospitality): We are deploying technology to improve the logistics of communication, not to replace people. Innovations like messaging tools (WhatsApp) allow guests to get towels or service instantly without calling an operator. This speeds up service and makes the guest’s stay more efficient. We are also seeing AI-driven security cameras that can alert us to anomalies, allowing our staff to focus more on guest interaction rather than staring at screens.

Franco Varona (Technology & VC): The innovation I’m most excited about is the ‘solution-based’ tech that addresses local gaps. We’ve invested in everything from affordable gym chains to female-focused fertility clinics that were previously unavailable or required flying abroad. These aren’t just apps; they are tech-enabled services that impact national health and productivity. The upcoming G-Cash IPO could also be a massive technological and financial catalyst for the entire country.

Mike Jugo (Real Estate): We are focused on ‘longevity’ and wellness innovations within our properties. There is a growing focus on facilities that support a longer, healthier life, which we are integrating into our premium developments like Park Central Towers. We are also looking at how technology can improve environmental stewardship within our communities, moving beyond just ‘greenwashing’ to true sustainability.

Marleen Go-Uyecio (Homes): It’s encouraging that people are asking more questions and forming a real connection with the products. We do use AI, but to elevate it, the space still has to feel lived-in—real. That sense of authenticity, across interiors and product design, is what resonates with the mainstream.

Irene Martel Francisco (Publishing): There has definitely been a swing—particularly in the US—towards overreliance on AI, which is why brands are now seeking authenticity again. It really comes down to the prompts you give, which is why training is so important, especially in publishing, where the impact is immediate. At the same time, there are practical considerations that shape the industry too, from infrastructure gaps to access, even something as basic as limited direct flights into the country.

Isabel Francisco (Content Creation): There are moments when the content team finds a story compelling, only to realise no one is reading it. We experiment constantly—changing headlines, visuals, even hero images—and sometimes that alone can significantly shift engagement. It’s fascinating to see how much titles and visuals influence behaviour and to understand why certain stories resonate while others don’t.

Sandeep Uppal (Finance): Banks play a role by ensuring financial transparency and inclusion. By pushing for digital payments, we help with tax collection, which is the baseline for a functioning society. We also have a responsibility to provide safe avenues for wealth growth so that the average Filipino isn’t just stuck with bank deposits but can actually participate in the country’s growth. Following the law and paying taxes correctly is the starting point for corporate social responsibility.

Josh Boutwood (Food Industry): Our role is to uplift the local agricultural sector. By committing to buy from local farms and helping them improve their quality, we are creating a more sustainable ecosystem that doesn’t rely on expensive imports. This helps the farmers and reduces our environmental impact. We want to apply the lessons from large-scale farming to smaller lots, helping local communities grow their own produce more effectively.

Amit Oberoi (Hospitality): Mobility is the core social issue we address. In a fragmented country of 150 million people, moving goods, water and money is a massive challenge. Our infrastructure spending should focus on this mobility to ensure that growth is not just limited to Metro Manila. We also use our platform to provide consistent, reliable employment within the tourism and service sectors.

Franco Varona (Technology & VC): We think about social impact in tiers: first, the 8,000 people our portfolio companies directly employ, and second, the 500,000 people who get income opportunities through our services. We are empowering entrepreneurs by teaching them good governance and integrity, ensuring they build solid foundations and pay taxes correctly. Our recent investments in affordable gyms and women’s health clinics are direct bets on the health of the Philippine nation.

Mike Jugo (Real Estate): We view our role as ‘city building’ with a responsibility toward environmental stewardship and inclusive growth. It’s about building communities that provide spaces for everyone—not just the luxury market. We are very conscious of not ‘greenwashing’ and actually implementing sustainable practices in our residential and mall spaces. We recognise that we can’t do it alone; it requires a stable environment and a partnership with the public realm.

Marleen Go-Uyecio (Homes): It’s easy to point fingers and say others are cutting corners or not paying what they should. But if you lead with integrity, your people mirror that. Even when others don’t play by the rules, integrity is the most basic place to start—and it has to run through the entire organisation.

Irene Martel Francisco (Publishing): At Tatler, we’ve made it our mission to use the influence of our platforms to support meaningful advocacies. At the same time, there’s a responsibility to educate. In a landscape crowded with conflicting voices on social media, it’s important to present a balanced view on social issues—so readers aren’t pulled in one political direction or another. Our role is to sit at the centre.

Isabel Francisco (Content Creation): It all boils down to fairness. Being part of the media, we try to take a centrist approach—looking at both the pros and cons, especially when certain groups are overused, overtaxed or undercompensated. We rely heavily on data, constantly asking why certain topics resonate and why others provoke resistance.

Sandeep Uppal (Finance): You must have passion, because the current generation will likely work for 40 years or more; you can’t survive that long without it. You also have to be a continuous learner because the sector is evolving so rapidly. When I started, there were no computers, only big calculators. Today, the most important skills aren’t just numbers, but attitude and the ability to ‘join the dots’ across different pieces of information.

Josh Boutwood (Food Industry): Stay humble and remember that our job is to cook for sustenance and receive money in return. Don’t get caught up in chasing stars or awards; focus on guest satisfaction and the overall experience. We don’t hire for skills—we hire for personality and attitude, because we can train the technical skills, but we can’t train a good heart. Be prepared for an industry that is gruelling but incredibly rewarding if you have the right mindset.

Amit Oberoi (Hospitality): This is a people business, and you have to enjoy dealing with the infinite variables that come with human interaction. If you don’t enjoy a day where everything is different and unpredictable, this isn’t the field for you. You will never truly be an ‘expert’; you must keep learning every single day and adding to your experience. It’s about being ready to solve problems that can't be fixed by looking at a spreadsheet.

Franco Varona (Technology & VC): Focus on building a solid foundation of integrity and good governance from day one. We look for entrepreneurs who aren’t just chasing a quick exit but are building businesses that have a real impact on the country. It’s about empowering your team and teaching them how to build sustainable systems. In the VC world, patience and the ability to spot ‘solutions’ over mere ‘innovations’ is what leads to long-term success.

Mike Jugo (Real Estate): Look toward something larger than just your own business. Whether you’re in sales or development, you need a sense of responsibility toward the community and the environment. The most successful people in this industry are those who are agile and can anticipate the changing needs of a more discerning, globalised client. Always be looking for ways to transform your own capabilities and those of your organisation.

Marleen Go-Uyecio (Homes): If you lead with integrity, your people will mirror that throughout the organisation. Staying true to your core values—especially integrity—is the most basic and important place to start.

Irene Martel Francisco (Publishing): One has to constantly learn how to change and adapt, without ever losing the human touch. Clients don’t want to deal with a machine; they want to engage with someone who understands their pain points. The skill set required to enter the industry today has shifted dramatically from five years ago, even down to knowing how to work effectively with tools like AI.

Isabel Francisco (Content Creation): If you want to enter the publishing industry, it's changed a lot. To enter the industry today, you need to be creative, a strong storyteller and deeply curious. Understanding how visuals and headlines influence engagement—and why audiences respond to certain stories and not others—is now a critical part of working in media.

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