Web Summit will be in Lisbon at Least until 2028 Unless Web Summit pays €3,000,000,000 to the Portuguese Government

Web Summit is staying at least for the next decade in Lisbon, to be more precise, 2028!

What happened really?

The Portuguese Government celebrated a contract with Web Summit to guaranty the presence of the event in Lisbon at least until 2028. The Portuguese Government is paying €11,000,000 a year to Web Summit as part of this contract.

In case Web Summit doesn’t comply they have to pay a whopping €3,000,000,000 to Portugal.

Watch the video for more details.