Finance

Lisbon Municipality approves funding for Web Summit and tourism

The Lisbon City Council has approved several financial allocations for Web Summit and the tourism sector until 2029, including 8 million euros for the technology event.

24 September 2026Tagblick Newsdesk

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Archive photo: Lisbon Municipality approves funding for Web Summit and tourism — Archive photoPhoto: Web Summit · Wikimedia Commons · CC BY 4.0

The Lisbon City Council (CML) recently approved the allocation of 8 million euros to the Lisbon Tourism Association to support the organization of the Web Summit, which will take place from November 6 to 12. This funding is part of a total of 33.8 million euros designated for various tourism-related initiatives in the city.

Despite the support, the CML expressed its intention to reduce the costs associated with the event if it continues in the capital after 2028. Since its inception in Lisbon, the Web Summit has already cost the municipality more than 60 million euros, according to sources monitoring the event's finances.

The funding proposal was presented by councilor Maria Luísa Aldim, and during the vote, support came primarily from the majority coalition of PSD/CDS-PP/IL and Chega. The opposition voiced some criticisms regarding the management model deriving from the revenues of the tourist tax.

In addition to the 8 million euros allocated to the Web Summit, the CML also approved financing of 25.8 million euros for a tourism promotion program until 2029. This package of measures is part of a continuous effort to promote Lisbon as an attractive destination for tourists.

The allocations also include funds for fashion and cultural events, with ModaLisboa being one of the projects included. The decisions made by the CML aim to diversify and enrich the cultural and tourism offerings of the city, despite the criticisms received.

The exact details of future cost reductions for the Web Summit and their implications have yet to be determined. The event, which has become a landmark in the city’s technology calendar, continues to be closely monitored by the tourism sector and civil society, which is awaiting further information on the next steps.

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