Europe's largest tech event, the Web Summit, announced on Tuesday it will go ahead with the first phase of expansion of its Lisbon offices, having opened 16 positions for experts and managers.
Last October, Web Summit's CEO, Paddy Cosgrave, announced that the Lisbon office would have up to 100 workers.
"Our investment in the growth of Web Summit's operation in Lisbon is a symbol of our commitment," Cosgrave said.
The technology summit was born in 2010 in Ireland and in 2016 moved to Portugal, and since then it has had an economic impact of over €500 million.
The original contract established that Web Summit would stay for three years in Lisbon but in October Web Summit revealed it would stay in the Portuguese capital until 2028.