The Web Summit returns to Lisbon after a year of absence from November 1-4, with tens of thousands of people descending on the Portuguese capital to talk about technology.
As the Web Summit, one of the world’s largest tech conferences, just behind Austin Texas’ SXSW, wrapped up its seven-year tenure in Dublin, the city was recording the highest house prices in Europe. Event organizer Paddy Cosgrave moved the event to Lisbon in November 2016 to accommodate some 50,000 technicians, finding Lisbon attractive for its cheap rents, enviable sunny lifestyle and affordable talent pool. and highly skilled. While most of the attributes of the Portuguese capital remain unchanged, the cost of real estate is no longer one of them, with prices quickly catching up with the rest of Europe.
The Web Summit returns to Lisbon for the 5e from 1 to 4 November with 40,000 participants from all over the world expected at the Altice Arena in Lisbon. 1,000 speakers and some 1,250 start-ups will launch and fundraise, network and generally take over the capital’s beaches, vibrant nightlife and airport.
September 29e, Portugal has reached the milestone of being the country with the highest number of doubly vaccinated people in the world, with 84% of the population having received two doses of vaccination. Even with restrictions fully lifted by the Portuguese government as of October 1st, allowing nightclubs to reopen for the first time since March 2020, and people to dine indoors without restrictions, from Lisbon to the countryside, many Portuguese still wear their masks inside and out . Organizers have decided it is safe to bring the Web Summit back to a digital in-person event for their 2020 edition which occurred during the coronavirus pandemic with over 100,000 people tuning in across the world. .
For the Portuguese, the worry was that the massive influx of nomads and digital technicians would raise housing prices only to see them move to second best place, leaving the country with inflated housing prices in their wake and nothing to do with it. other to show for their time spent. in the country. After being the poor in Europe in modern history, and more so after the financial crisis of 2007-2008, the Portuguese are now poor in their own country, feeling the pinch as they struggle to continue living in the neighborhoods in which they grew up. as Lisbon’s popularity skyrockets.
But two things challenge the theory that UHNWIs in the tech scene could leave Portugal worse off than they found it to be. The first being that it’s hard to imagine a better place to live, anywhere in Europe, with many people staying well beyond the Web Summit or tax incentives, having invested and getting used to a quiet but fun lifestyle. The second is that the Portuguese government is doing everything in its power to attract and retain UHNWIs by offering start-up visas and a non-habitual resident program, an investment residency program that grants investors a flat rate of $ 20. % income tax which is especially popular with heavily taxed Europeans. As long as government business-friendly programs continue, the sun is shining and Portuguese universities excel, real estate will continue on its upward trajectory, technicians will invest and create new start-ups and tech hubs in parts of Lisbon under -developed.
We wish the Web Summit a safe return to Lisbon!