Web Summit Founder Hints at 'Enorme' New Lisbon Venue Amid Future Uncertainty

Future of Web Summit in Lisbon Post-2028 Remains Uncertain

The Web Summit's future in Lisbon beyond 2028 is up in the air. The expansion of FIL, the current venue, was part of the agreement between the event organizers and the Portuguese government, with a contract running until 2028, but it has never moved forward. "In 2029, we either stay in Lisbon... or we'll be in a new situation," said Paddy Cosgrave at a press conference this Wednesday.

When asked about FIL's expansion to accommodate more participants—aiming for up to 100,000—a plan that has been discussed for years without implementation, Paddy Cosgrave revealed he heard "a rumor about a new enormous venue in Lisbon." He added, "I haven't seen anything yet, but that would be very exciting." However, with three years left on the contract, he deferred further discussion, saying, "Maybe in two years I'll have to talk about that." Pressed for details after mentioning the rumor, Cosgrave declined to elaborate, noting he heard it at a dinner with "a Portuguese" in Lisbon.

Controversial Comments on Hotel Prices and Private Jets

The press conference was marked by Paddy's recent remarks on Lisbon hotel prices during the event and the lack of private jet slots. In response to Infrastructure Minister Pinto Luz's accusations of "excessive language" regarding alleged airport capacity issues for private flights, Cosgrave emphasized that his role is to "bring the best people in the world to Lisbon, and in the end, the best people are here."

On hotel price hikes, Cosgrave insinuated, "I wasn't commenting on prices, just saying that if you raise prices by 500%, and then complain that people aren't booking your hotels..." He linked this to the 70% increase in private jet slot requests this year, stating, "Do I think those people care about hotel prices? No, I think Lisbon hotels could raise prices by 10,000% for them, and they probably wouldn't complain. It's the hotels' decision, but then don't complain."

Praise for Lisbon Mayor Carlos Moedas

Paddy didn't hold back in praising Carlos Moedas, suggesting he could be a "make Lisbon great again" president but quickly retracted, saying, "I don't think that would be a good idea." He described Moedas as "incredibly dedicated to the city," citing an example where a pothole was fixed overnight. "He knows a lot about innovation, was European Commissioner for Innovation, met the most important people in the sector, and then became mayor of Lisbon. We're very lucky; he's very proactive and not afraid to take risks."

Plans for China and Event Highlights

Regarding plans to take the summit to China in 2027, revealed a month ago on LinkedIn, Paddy Cosgrave said it's "very likely" to happen but made no official announcement, hinting at ongoing negotiations. On the dedicated China stage, a first at the Web Summit held on Tuesday, he highlighted that it was always "full" with "many different opinions" shared, and it might be repeated next year given participant interest.