Approximately 70,000 participants are estimated at the international Internet conference (Web Summit 2022) this year in Lisbon — i.e. much better than before the pandemic, according to Deutsche Welle. Huge queues form at the city’s airport and in front of the exhibition center. Hotels, bars and restaurants are full. The online event started yesterday, November 1st and will run until Friday. More than 900 speakers, 2000 start-up companies, more than 1000 investors are those who will declare themselves real and real. “The international conference is a reason for pride once again. Exhibitor space expanded by 60%,” says Paddy Cosgrave, organizer of the international conference, in an interview with DW.

He promised impressive things at yesterday’s premiere. “For security reasons, we cannot name the speakers yet. But these are important political figures from all over the world,” he stressed. Among them, of course, are Portuguese Prime Minister Antonio Costa and Lisbon Mayor Carlos Moendas. Both love to appear at this year’s conference as Internet fans. The list of topics is almost endless, but this year’s web summit has a particular focus on cryptocurrencies, which the organizer says have drawn attention from the negative press: “Many people have lost a lot of money, some even face jail time. Tough questions need to be asked,” he says.

900 speakers, 2000 startups and over 1000 investors at the international conference in Lisbon.

A troubled global economy also casts a shadow over the international internet conference. Paddy Cosgrave refers to the economic war between the US and China, in which Europe is also involved, as well as the energy issue. The war in Ukraine and the situation in the country are also at the center of events. “And, of course, we have important people from NATO and Ukraine who will take part in the discussion,” he adds, while Germany has the largest delegation at the conference. Regardless of the global economic situation or the war in Ukraine, the participants of the Internet Summit want and should have fun. “Often these meetings open up completely new business opportunities,” says Paddy Cosgrave. So every night there is a party in different parts of the city. However, residents of Lisbon have often complained about this reason for a long time. They claim they can no longer find affordable apartments because of Airbnb. Neighborhoods are losing their character, and even coffee has become more expensive.

The Portuguese government dreams of a modern digital country and residents who earn money with computers on the beaches. However, these modern nomads must earn just under €3,000 a month to be allowed to stay in the country, which is almost three times the average Portuguese. Paddy Cosgrave acknowledges that Web Summit is also partly responsible for this growth. “But it is up to politicians to ensure the harmonious and sustainable growth of cities,” he concludes. Whether they will, remains to be seen.