Web Summit expects to double attendance in 2024 and inject R$33 million per day into Rio’s economy; in the 6 editions, the forecast is R$ 1.5 billion

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A study by the Municipal Secretariat for Urban and Economic Development of Rio de Janeiro shows the economic impact of the largest technology event in the world on sectors such as hotels and food. The survey also provides projections for the next editions that will take place in the city until 2028. The largest technology fair in the world, Web Summit Rio Globoplay/Reproduction Rio de Janeiro City Hall is very optimistic about the second edition of Web Summit Rio this year in the city. The expectation is that the biggest technology event in the world can inject around R$33 million into the local economy per day of the meeting. The event, which takes place between April 15th and 18th, at Riocentro, in the West Zone of Rio, brings together technology startups and potential investors from all over the world, as well as prominent names in the market, who will talk about their experiences and new developments. sector. The municipality’s projection on the economic impact of the event points to a total of R$1.5 billion, adding up to the six editions of the Web Summit already scheduled in Rio’s calendar, between 2023 and 2028. The study “Potential Economic Impacts of the Web Summit Rio (2024-2028)”, prepared by the Municipal Secretariat of Urban and Economic Development of Rio de Janeiro also talks about the public projection in the coming years. The municipality expects to see the number of people present at the event double, compared to the 1st and 2nd editions. “Holding a mega event like Web Summit strengthens Rio’s technology and innovation ecosystem. This is another important step towards transforming Rio into the capital of technology and innovation in Latin America, mainly due to the connections that an event of this size provides” , commented secretary Chicão Bulhões. 40 thousand people per day If the debut edition of the Web Summit in Rio de Janeiro, in 2023, had sold out tickets and a total of 63 thousand people over the three days of the event, the expectation for this year is 40 thousand people per day. The three-day event could attract more than 120,000 people to the lectures that will take place at Riocentro. According to Rio’s Secretary of Urban and Economic Development, Chicão Bulhões, this volume of people interested in the event will boost the impact on the local economy. “The Web Summit’s arrival in Rio, one of the biggest innovation and technology events in the world, aims to make the city the innovation capital of Latin America, strengthening Rio’s economic development, boosting the economy and generating jobs and income for the locals”, said Bulhões. The city hall study made an audience projection for the coming years of the Web Summit in Rio. The municipality believes that the following editions will grow gradually, until reaching 70 thousand people per day in 2027, maintaining this level in 2028. In this sense, the estimated audience for the six editions of the event is 933 thousand people present. R$ 191 million in 2024 The study also presents detailed figures by sectors and areas that will be positively affected by the event in the city. Furthermore, the material points out the evolution of the impact over the six years of the Web Summit in Rio. The daily economic impact of the event on all sectors of Rio’s economy could increase from R$ 17.5 million in 2023, to R$ 33, 3 million in 2024. In 2026, the city hall expects this number to exceed R$50 million per event day. Only the hotel sector, which most benefited from the presence of the Web Summit in Rio, could go from the R$9 million daily impact of the 2023 edition to R$17.2 million this year. The municipality’s projection indicates that by 2028 this number will exceed R$30 million per day. Web Summit should inject R$1.5 billion into Rio in 6 years Arte g1 The daily impact on the food sector, with bars and restaurants, could reach R$11.5 million in 2028. The value of the impact on the sector , in 2023, it was 3.5 million per day. The expectation for this year is an injection of R$6.6 million into the sector for each day of the event. According to city hall studies, the economic impact of the entire event in 2023 was R$100.5 million. In 2024, the general projection is R$191.4 million. In 2028, the last year of the six events already scheduled to take place in Rio, the municipality expects a total impact of more than R$300 million. Adding up the six editions of the Web Summit already scheduled in Rio’s calendar, between 2023 and 2028, the municipality’s projection points to a total of R$1.5 billion in economic impact on the city. Increase in ISS collection In addition to the injection of R$ 1.5 billion into the Rio economy, the city hall is also betting on an increase in the collection of Services Tax (ISS). In 2023, Rio collected R$409.5 million in taxes (ISS) from the technology sector, which corresponded to 7.1% of total revenue. According to city hall, this was the fifth highest tax payer in the city last year. The Technology ISS, in the period between 2017 and 2022, was responsible for collecting R$2.7 billion for municipal coffers. The expectation for the following six years, between 2023 and 2028, is to increase the total collection of the Technology ISS in the period to R$3.6 billion. For this increase, the study considers the strong presence of the Web Summit in the city, with its annual editions, but also highlights the inauguration of Porto Maravalley, the largest innovation and education hub in the country, in addition to programs and projects such as IMPA Tech, Sandbox.Rio, Programadores Cariocas, ISS Tech, ISS Neutro, among others. ‘Selfie point’ at the Web Summit Rio, at Riocentro g1 Rio For mayor Eduardo Paes (PSD), the Web Summit and projects in the area of ​​technology and innovation are part of the current municipal government’s plan to transform the city into the “capital of innovation in Latin America”. “We want to attract more and more companies and startups here. Rio has been transforming, with an eye on opportunities, to position itself as a protagonist on the global map of the technology market”, explained Paes. Investment in the sector Also this Thursday (18), the mayor will participate in the inauguration of Porto Maravalley, the largest innovation and education hub in the country, in the city’s port region. Under construction since November 2022, Porto Marvalley aims to bring together companies, startups, investors, academies and research centers in the same space, providing connection and business between the various agents in this ecosystem. The space will also have an area dedicated to training and training technology professionals. This academic side will be managed by the Institute of Pure and Applied Mathematics (Impa), a higher education institution opened in December 2023. Porto Maravalley has an area of ​​10 thousand m2, where the municipality invested around R$37 million for the carrying out works and purchasing furniture. About the Web Summit With the aim of bringing together technology startups and potential investors from around the world, the Web Summit, the largest technology and innovation event in the world, arrives in Rio de Janeiro for its second edition next Monday (15 ). The 2023 event, the first to take place outside Europe, featured over 100 hours of lectures, with 300 guest speakers, and more than 700 startups. Web Summit should inject R$1.5 billion into Rio in 6 years Disclosure The technological conference, which had its first event in Dublin, Ireland, in 2009, usually attracts specialists and those interested in industries: fintechs, auto techs, energy techs, venture capital, business software solutions, e-commerce, deeptech, artificial intelligence, big data, among others. The Web Summit 2024 will highlight the following topics: application of artificial intelligence and government actions to implement its regulation, in addition to the interference of geopolitics in technology and the use of energy matrices. Among the highlights of this year’s Rio edition are confirmed: Gilberto Gil, KondZilla, Bianca Andrade, Txai Suruí, Fábio Coelho, Camila Loures, Luccas Neto, Luiza Trajano and the North American Meredith Whittaker, president of Signal, who will participate in a one of the most awaited tables, about the different layers of the AI ​​industry.

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