The event has previously been held in Dublin. Vítor Costa, director general of Associação Turismo de Lisboa, said: "By winning this bid we have not only raised Lisbon’s status on the international entrepreneurship stage of the technology and innovation sector, but also as an ideal destination for the hosting of global events. This is surely a major step in Lisbon’s promotion."
Paddy Cosgrove, chief executive of Web Summit, said the destination was chosen because of its good infrastructure and its growing start-up community. More than 20,000 participants are expected to attend the 2016 event, to be held in November next year.