Tuesday, 11/9/2021
Francisco Carballo-Cruz,
João Cerejeira, and Ana Paula Faria, professors of the Department of Economics
of the School of Economics and Management and researchers at the Centre for Research in
Economics and Management (NIPE), developed a study published by the Gabinete de Estudos
Económicos (GEE) of the Ministry of Economic Affairs about the economic impact
of the Web Summit.
Three years ago, GEE
released a similar study, signed by professor João Cerejeira, whose goal was to
account for the effect of the Web Summit in Portugal in the long term, between
2016 and 2028. The most recent study aims to estimate the impacts of
expenditure, gross value added, employment, and taxes resulting from the Web
Summit between 2016 and 2019. The studies consider three scenarios, which vary
according to the growth rate of the number of participants, type of multiplier
(with endogenous consumption or not), and average stay of each participant.
In a comparison between the
first estimates, the current study concluded that the economic impact of the
technology event will have been below what had been initially estimated. The
estimates of gains in the expenditure made in Portugal during the event fell
short of what was expected, with the differences being significant, especially
in the year 2019. The actual study has a lower positive perspective as it
points to less considerable gains in tax revenue, GVA, and job creation.
Gabinete de Comunicação
Escola de Economia e Gestão
Universidade do Minho
Telefone: 253 604541
e-mail: gci@eeg.uminho.pt
