The Web Summit tech conference has generated €2.5 billion for the Portuguese economy over the past decade, according to an economic impact study by consultancy EY. Presenting the report ahead of the Lisbon event, chief executive officer Paddy Cosgrave noted that Portugal's startup ecosystem expanded by 132% between 2016 and 2025. The upcoming conference will feature a record contingent of Portuguese startups as well as roughly 300 participating startups from Brazil.
Web Summit Generated €2.5 Billion in Portugal Over Decade
Thursday, 5 November 2026AI summary
Context & Explainers
Paddy Cosgrave is an Irish entrepreneur and the co-founder and CEO of Web Summit, one of the world's largest annual technology conferences. After founding the event in Dublin in 2009, he moved it to Lisbon in 2016 under an agreement with the Portuguese government and the Lisbon City Council to host the event through at least 2028. The conference brings over 70,000 international tech executives, investors, and entrepreneurs to the capital each November.
