Depends on what you want to do, how much you're willing to spend and how much traveling you're willing to endure.
From Manila, the closest is Subic and you can drive to reach it. Cebu and Boracay can only be reached by plane....roughly about 1 hour.
Things to do:
Subic - Casino, Dolphin Adventure, Go on a jungle survival tour, go karting, go to the yacht club (if you know someone who's a member)
Cebu - Plenty of great beaches, as in any city - they have some malls, lots of night spots, bars and restaurants, great food especially seafood
Boracay - an island paradise, 3 km of white sand beach, all water sports, you can go island hopping, lots of great bars and pubs
Another island paradise in the Philippines is El Nido, Palawan. If you're willing to spend a little more, it's worth the trip. Marine life is awesome so diving is a must!
Hope this helps.
