Web Summit's economic impact in Portugal reaches 2.5 billion euros over ten years, EY finds

Economic impact in figures

The consultancy EY, whose report was released on 5 November, estimates the Web Summit has added about 250 million euros a year to the Portuguese economy. Across ten editions the total comes to 2,492 million euros, according to the document. That figure is built from visitor spending, foreign investment and the growth of Portuguese startups. After subtracting the cost of hosting the event, the country still gains more than 230 million euros a year. Over the ten editions the conference drew more than 683,000 participants, who spent 730 million euros on accommodation, restaurants, transport and shopping, with a peak of 118 million euros in 2025. Activity linked to the event supports more than 3,000 full-time jobs.

Taxes and startups

Taxes paid in Portugal because of the event rose from 25 million euros in 2016 to 50.7 million euros in 2025, a figure that includes 4.7 million euros linked to the company's presence in Lisbon. Cosgrave told the press conference that taxes generated by the event alone were just over 50 million euros last year.

201625

202550.7

2016

25 million euros

2025

50.7 million euros

Data from the article text

The number of Portuguese startups grew 132%, from 2,193 in 2016 to 5,091 in 2025, and at the end of 2025 those companies employed the equivalent of 28,000 full-time workers. Startups took part in the event 100,000 times over ten editions. The 191 companies in the 2024 startup programme together raised 607.5 million euros.

20162,193

20255,091

2016

2193 companies

2025

5091 companies

Data from the article text

Reputation, visitors and the 2026 edition

Cosgrave said the Web Summit's arrival in 2016 was meant to change how Portugal was seen, a goal that Paulo Portas and the people around him pursued in 2015. The report also measures reputation: roughly 114,000 mentions in international media between 2016 and 2026, equivalent to 3 billion dollars in advertising value. Online search interest has also grown, mainly in the United States and Canada. Cosgrave said the number of Portuguese startups will be higher this year and that China's presence at the event will increase. He expects around 70,000 visitors at the 2026 edition, which runs from 9 to 12 November at the FIL and MEO Arena in Lisbon. He added that attendance is shifting, with more participants from Eastern Europe while France and Germany continue to decline. Cosgrave also referred to recent protests in Portugal after the event's symbol was vandalised, a poster he said was damaged on the night of Wednesday, 4 November.

Lisbon after 2028

The current Lisbon arrangement runs until 2028, following an agreement reached in 2018 to keep the conference in the city from 2019. Cosgrave declined to say which cities are in talks with the organiser, describing them only as most of the large European cities. He set three criteria: a world-class venue, an international airport with capacity, and hotel capacity, which he said is now scarce across Europe. He argued Lisbon benefits from holding the event in February and November, when hotels are quiet. Space remains a constraint, and the organiser has built 30,000 square metres of temporary structures. Lisbon's city council asked the organiser in September for the terms of a possible bid to host the event from 2029 to 2038. Cosgrave hopes to make the announcement on stage at the 2027 edition, and said 2029 is still far away.