Philadelphia Uses PCMA Convening Leaders as Launchpad for $1 Billion Year

There is no time to rest for the Philadelphia Convention Bureau (PHLCVB), with PCMA Convening Leaders 2026 being the second citywide convention of the year, and a third beginning the same day.

PHLCVB President and CEO Gregg Caren and his team are excited for 2026, with the City of Brotherly Love as a focal point of the U.S. Semiquincentennial celebration. The city is also hosting six FIFA World Cup matches — including one on July 4 — and has a packed convention calendar.

Since he took the job six years ago, bringing PCMA’s largest event back to Philadelphia — last held in the city in 2006 — has been a key part of Caren’s business development strategy. He is confident the investment will yield significant returns with a stronger convention sales pipeline. His hotel partners agreed. “Every one of them, hands down, said, ‘We need to have this back,’” said Caren.

Part of the appeal is shaping the city’s perception. Caren said, “In our industry, there’s nothing like a fam trip.” He believes those who’ve never been to the city have a neutral or negative view. “If we’ve got the business events professionals leaving here with a better view, or a positive view, it’s a home run for us.”

The ROI of Hosting PCMA Convening Leaders

Caren acknowledges a need for tangible financial return to offset the investment required to host PCMA Convening Leaders, beyond hard-to-measure branding and perception benefits. “We’re at break-even already,” he said based on projections of $8.5 million in economic impact, from more than 4,000 attendees.

The event filled a tough week in the convention calendar. “The second week in January is not exactly a peak season for conventions.”

The litmus test comes from long-term citywide bookings. San Diego’s benchmark of 500,000 room nights from hosting PCMA is the high-water mark. Caren’s expectations are high, but not that high. “If in the next two years I could attribute half of that [500,000 room nights] to new business. That’s huge for us.”

Medical meetings account for nearly 45% of Philadelphia’s convention business. With PCMA membership largely focused on this sector audience, the event is a good fit for the PHLCVB and its PHL Life Sciences division.

2026 Projected to be an Exceptional Year

PHLCVB estimates that 2026 events will drive 1.5 million overnight visits, generate over $950 million in direct spending, generate $1 billion in economic impact, and support 2,000 jobs. Caren said, “My running joke was if I could make 2026 an 18-month year, I could probably have sold some more.”

In 2024, PHLCVB reported that it booked 267 events, attracting 542,202 attendees, resulting in 581,612 hotel room nights and generating an estimated economic impact of $636 million.

Beyond PCMA Convening Leaders, Philadelphia has a robust 2026 convention calendar, featuring at least 17 citywides and around 200 other events. Highlights include RIMS RISKWORLD and the Academy of Management Annual Meeting. High-profile public events include the PGA Championship, FIFA World Cup, and MLB All-Star Week.

The calendar also includes events like a volleyball tournament expected to attract 24,000 attendees to the convention center over Easter weekend, which is another quiet time for business events.

“The biggest waste of 2026 is if we look at it as the best year ever, and don’t leverage it.” But fortunately this year isn’t the only positive year in terms of bookings for the city; 2027 and 2028 also look good, which is key to sustaining the industry long term.

Value for Money Is a Key Differentiator

In December, USA Today ranked Philadelphia among the 17 most affordable large U.S. cities, recognizing the city’s value for money. Caren said, “We are the best value, both from a residential standpoint, quality of life, cost of living, and thus, from a tourism standpoint.”

This affordability means hotel prices don’t fluctuate as much as in other U.S. cities. In an October study on rate increases during the FIFA World Cup, Philadelphia ranked lowest among host cities. “If I’m a hotel owner or a GM, I’d love to double my rates. But the value proposition is part of our pitch,” said Caren.

The city’s Northeast Corridor location attracts attendance from Boston, New York, Baltimore, and Washington, D.C. Easy air, rail, and road access allows last-minute attendance decisions. “Time and time again, I hear that we break their records for late registration, and the answer is because they can,” said Caren.

The Philadelphia International Airport, American Airlines’ largest transatlantic hub, has significant international airlift, offering around 30 direct flights to international destinations.

Earlier this month, the Pennsylvania Convention Center upgraded its digital signage. Last April, it became the first venue to earn an accessibility certification from Sage Inclusion and is committed to further enhancements, including converting existing meeting rooms to quiet or sensory-friendly spaces.