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Web Summit, Tech Companies, and Tourism

Brasil stand at the Web Summit 2023
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Since the Web Summit in Portugal, I have attended every edition. Over the years, I’ve noticed the number of countries attending this technology event has steadily increased.

The 2023 edition is proof of the growing interest in investment opportunities in various countries, with stands showcasing slogans such as “Invest in Turkey,” “Invest in the Azores,” and “Invest in Poland.”

Attracting investment to countries is always a great idea, and the benefits are even greater when it comes to technological investment. Although I don’t see a direct relationship with tourism in the implementation phase of companies, I do believe that tourism and how a country presents itself can be one of the factors behind the decision to “invest” in a given nation.

Portugal has emerged as a top destination for tech start-ups — the so-called “unicorns” —, building on its success as a tourist hotspot.

I found it curious that the Azores is now taking the same path.

Also, Arab nations are investing in their external image and are actively seeking to attract businesses and events, as evidenced by the presence of Saudi Arabia and Qatar.

With the Web Summit, one thing seems clear to me: while setting up companies in a given country may not be directly linked to its tourism, holding major events is completely associated.

This year’s edition alone saw more than 70,000 participants from 153 countries in Lisbon, resulting in a hotel occupancy rate of around 85%. It is easy to imagine the impact of thousands of new visitors on local restaurants and businesses.

This article may seem slightly different from what I typically write here, as it’s not solely focused on travel. However, I’d love to hear your opinion on these topics! Can new companies influence tourism? Do you believe holding big events is positive or negative for a city or country?

Marlene On The Move

Marlene Marques

Marlene is the creator of Marlene On The Move. A journalist by profession, she created the blog to share her adventures around the world. It is not unusual for her to set off to discover new countries and cultures with a surfboard as luggage.

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