Agreement of 110 million guarantees the Web Summit in Lisbon until 2028 and could be worth more than 300 million for Portugal.

Competing with 20 other European cities, the organization behind Europe’s biggest technology event has decided to sign an agreement and maintain the Web Summit in Lisbon over the next 10 years.

Fernando Medina, president of CML, stated that maintaining the Web Summit in Lisbon will increasingly affirm the country’s capital as a centre of innovation and creativity, capable of attracting and retaining qualified jobs.

In addition to the need to hire 100 more people for the organization, it is expected that the impact for Portugal will exceed 300 million euros.

The FIL (International Fair of Lisbon), the location where the event takes place, will also have to double the available space to continue to receive the Web Summit. The first phase of this expansion begins later this year and extends over the next 3 years.

This year’s edition takes place between the 5th and the 8th of November and so far has the following invited speakers: Devin Wenig (eBay), Tim Berners-Lee (Web Foundation), Ben Silbermann (Pinterest), Brad Smith (Microsoft), António Guterres (ONU), Michelle Peluso (IBM) and Margrethe Vestager (European Commission).

Source: Marketeer and Web Summit