The new route, part of a £32bn government investment, means a journey from Manchester to London could take just over an hour.
Angie Robinson, chief executive of Manchester Central, said: "This is great news for business in Manchester and great news for events, exhibitions and conferences in Manchester. Manchester is going from strength-to-strength as a leading destination for major events and is increasingly competing on an international level to host large-scale exhibitions and conferences.
"I am delighted that the route announced today has an extra stop in Manchester. HS2 will make Manchester an even more attractive destination for delegates attending events in the city and will reinforce the already established strong links between the two cities."
Ian Taylor, commercial director at Marketing Birmingham, the city’s strategic marketing partnership which operates Meet Birmingham, added: "Phase Two of HS2 will provide the north of England with quicker, easier and more reliable transport access to Birmingham, strengthening our reputation among national organisers as a convenient, centrally-located city, in which to host their events.
"Furthermore, competition between locations across Europe to attract events with a significant economic benefit to their city is stronger than ever. Infrastructure improvements like HS2 will be vital for Birmingham to attract new international business to its varied and popular events venues, offering a cost-effective, high quality alternative to London, while remaining within easy reach of the capital.
"The Government must press ahead with infrastructure projects such as HS2 without delay, to ensure that Birmingham remains a leading destination in the business tourism market."
HS2 last year revealed plans to cut train times from London to Birmingham to 45 minutes.