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70,000 attendees to spend over 61 million at Web Summit

The Association of Hospitality, Catering and Similar Institutions of Portugal (AHRESP) predicts that participants in the Web Summit spend more than 61 million euros in the four days of the international conference on technology and innovation, which is taking place in Lisbon.

After listening to its associates, AHRESP estimated that the expected 70 thousand visitors of the third edition of the event in Lisbon spend about 61.6 million euros, in an average daily expenditure of 220 euros, of which 120 euros in accommodation and 50 euros in “restoration and animation”.

By 2018, the number of guests should increase by 12.4%, with the highest growth among foreign guests (+ 18%), according to AHRESP.

The overnight stays are expected to rise 13.5% year-on-year, with the foreign market contributing an increase of 17.3%, according to the information released by the association.

The bed occupancy could increase by a further five percentage points to 55.8%, while RevPar (average income per available room) should be 78 euros, up by almost 26%.

“In addition to the direct impact on the local economy, the Web Summit has a unique benefit in promoting Portugal abroad and, once again, highlights the capacity of our country to organize and host initiatives on a global scale. not only Lisbon with the country “reads the statement of the association.

Just a few days before the Web Summit technology summit, the organization said it hoped it would be “the biggest and the best” ever, with news and more than 70,000 participants.

Speakers such as former British Prime Minister Tony Blair, actress Maisie Williams, eBay chief executive Devin Wenig, Nestlé CEO Mark Schneider, fashion designer Alexander Wang and Microsoft Corporation President Brad Smith, among others.

The group of Portuguese speakers includes the United Nations Secretary-General, António Guterres, European Commissioner Carlos Moedas, Prime Minister António Costa, and the President of the Republic, Marcelo Rebelo de Sousa.

The weekend before the Web Summit is the result of the Surf Summit initiative in Ericeira, where entrepreneurs, investors and speakers gather for two days of outdoor activities.

On the days of the summit and after the conference time, the Night Summit nightlife activities at the LX Factory and the Sunset Summit party at the Portugal Pavilion return.

The technological, innovation and entrepreneurship summit Web Summit was born in 2010 in Ireland and moved to Lisbon in 2016, remaining in the Portuguese capital until 2028.

At the beginning of October, the agreement was announced for Web Summit to continue in Portugal for another 10 years, with an annual counterpart of 11 million euros and the expansion of the Lisbon International Fair (FIL).

Last year, there were about 60,000 participants from 170 countries, including 1,200 speakers, two thousand ‘startups’, 1,400 investors and 2,500 journalists.

This year’s edition will take place from 5 to 8 November, at the Altice Arena and at the Lisbon International Fair (FIL), in Parque das Nações.

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