SM Prime's Seaside Arena: Cebu's Hope for Tourism Comeback Post-2025 Slump

CEBU, Philippines – SM Prime has officially opened the SM Seaside Cebu Arena, a significant development in Cebu City that is being looked upon as a potential catalyst for economic recovery following a projected dip in tourist arrivals in late 2025. The arena, announced on July 9, marks the beginning of a 20-year development plan for Cebu's coastal business hub. Regan Rex King, President of the Cebu Chamber of Commerce and Industry (CCCI), stated that the SM Seaside Cebu Arena would help drive Cebu’s economic growth and align with the Philippine Sports Commission's (PSC) goals of promoting sports tourism. "A world-class arena is more than a venue—it is a gateway to positioning Cebu as Asia’s next premier Sports, Meetings, Incentives, Conferences, and Exhibitions (SMICE) destination," King told Rappler. Cebu Governor Pamela Baricuatro echoed similar sentiments, highlighting the arena as a reflection of growing confidence in Cebu as a premier destination for tourism, business, culture, and world-class events. She anticipates the new facility will attract more visitors, generate business activity, and create jobs for locals. The seaside arena, spanning over seven hectares, is considered the largest facility of its kind in the Visayas, with an estimated cost of P7 billion and a full accommodation capacity of 25,000 guests. Its inaugural major event, a concert by P-pop group BINI on July 11, reportedly sold out over 20,000 tickets, a notable figure compared to the SM Mall of Asia (MOA) Arena's capacity. For comparison, the SM MOA Arena hosted over 200 events in 2025, welcoming more than 1.1 million attendees and featuring international artists like Lady Gaga, Taylor Swift, Maroon 5, and BTS, as well as sporting events. Its 2025 performance represented a 10% increase from 2024 in terms of ticket attendance. Hans Sy, Chairman of SM Prime, explained that the SM Seaside Cebu Arena is the initial phase of a development project conceptualized over two decades ago. Future projects include the SMX Convention Center Seaside Cebu. Sy believes that having two major arena venues will provide a significant advantage in attracting international artists and events to the country, thereby boosting tourism. As of this writing, SM Prime has secured over 20 major shows, including local and international acts, live productions, and sports events for the SM Seaside Cebu Arena in 2026.