Doha, November 02 (QNA) - Web Summit Qatar 2026 generated approximately QAR 1.02 billion in direct and indirect economic returns, according to a report by Silverlode, a global advisory firm, marking around 26 per cent increase compared to the previous edition, with a contribution to GDP of approximately QAR 661 million, reflecting a 25 per cent rise.

According to the report, total visitor spending during the summit reached approximately QAR 341.1 million, with an average daily spend of QAR 2,525 per person and an average stay of six days. The summit, hosted in Doha from 1-4 February, also recorded 86,000 hotel nights and around 26,000 airline tickets booked, supporting the hospitality, aviation, transport, and wider services sectors.

Operationally, the summit spanned 86,200 square metres, reflecting the scale of the event and the readiness of the infrastructure, while supporting a smoother experience for visitors and participating companies.

These findings underscore the strategic value of major international events in supporting economic diversification through tourism receipts, business spending, investment opportunities, and growth across innovation-led sectors. They also reflect Qatar's continued progress in advancing the goals of Qatar National Vision 2030 and strengthening its position as a destination for entrepreneurship and the digital economy.

Sheikh Jassim bin Mansour bin Jabor Al-Thani, Director of the Government Communications Office and Chairman of the Permanent Web Summit Organising Committee, said: "Web Summit Qatar has become a strategic driver of diversification, strengthening the competitiveness of Qatar's economy by attracting investment, companies, and entrepreneurs from around the world. The summit confirms Qatar's success in leveraging major international events as development tools that contribute to achieving sustainable economic impact."

He added: "This impact reflects growing confidence in Qatar's business environment, world-class digital infrastructure, and integrated ecosystem that supports innovation and growth, further strengthening the country's position as a hub for technology and entrepreneurship, globally and regionally."

Hamad Madi Al Hajri, a member of the Permanent Web Summit Organising Committee representing the Ministry of Finance, said: "Web Summit Qatar 2026 generated more than QAR 1 billion in economic returns and contributed around QAR 661 million to the GDP, reflecting its growing economic value year after year. Visitor spending and increased demand across hospitality, aviation, and transport also demonstrate the summit's wider impact across the national economy."

He added: "Web Summit Qatar demonstrates how global events can stimulate economic activity and support Qatar's economic diversification, in line with the Third National Development Strategy and its vision for a more diversified, competitive, and sustainable economy."

The summit also contributed to Qatar's entrepreneurship and innovation ecosystem with more than 300 companies registering with the Qatar Financial Centre during the event, alongside nearly 2,300 business license applications across digital transformation, fintech, consulting, project management, and innovation. It also deepened the presence of global and regional companies using Qatar as a platform for expansion across the region.

The third edition of Web Summit Qatar reflected the event's growing global momentum, drawing more than 30,000 participants from 127 countries in its largest edition since launching in Doha in 2024. This reaffirmed its standing as one of the world's leading technology and innovation platforms.

The summit also welcomed more than 930 investors, registering growth of 55 per cent compared to the previous edition, which enhanced opportunities for connections between investors, startups, and entrepreneurs, alongside the participation of more than 840 media professionals, an increase of 40 per cent.

Startups remained a central pillar of this year's edition, with 1,637 companies participating, including 247 Qatari companies, registering growth of approximately 30 per cent compared to last year, reflecting the maturity and international reach of Qatar's innovation ecosystem. The summit also reflected notable diversity among speakers, government delegations, and international media outlets, further strengthening its role as a platform that brings together investment, policymaking, and innovation.

The report's findings confirm that Web Summit Qatar ranks among the world's prominent events driving innovation-led economic growth, while supporting the country's efforts to build a diversified and sustainable economy and advance the objectives of the Third National Development Strategy. (QNA)