Lisbon is all set to prepare for the forthcoming Eurovision Song Contest. Preparations for the upcoming contest are in full swing.
But how will Lisbon face the financial constraint of organizing this mega event? The local press is reporting that revenues from Lisbon’s Tourist Tax will contribute to the financing of the event in the Portuguese capital. We reported earlier this week that the City of Lisbon, Lisbon Tourism and Portugal Tourism will play a key role in covering the costs of hosting our beloved contest in Lisbon.
Tourist Tax Revenues to fund the contest
Although the budget for the Eurovision Song Contest 2018 has not yet been announced, it is already certain that part of the funding will be financed from Lisbon tourist tax revenues. Hereby an agreement was signed last Tuesday during the press conference between RTP, the Lisbon City Council and ATL – Associação Turismo de Lisboa.
The estimated cost of hosting the 2018 Eurovision Song Contest is something that has not yet been disclosed but a 25 million Euros return is expected only in tourism revenues. Hence the Lisbon City Council and Lisbon Tourism will financially support the organization of the event. The money will come from the Tourism Development Fund created with the tourist tax funds applied on overnight stays in the city.
The MEO Arena located at the Parque das Nações in Lisbon will have the honour of hosting the the semi-finals and the final of the Eurovision Song Contest next year. But the event will also extend to Terreiro do Paço (Praça de Comercio) where the Eurovision Village will be set up. Eurovision fans will be able to enjoy the Eurovision atmosphere and performances at the Eurovision Village. The Eurovision Village will run for a total of 10 days.
A message from the Mayor of Lisbon
Mr. Fernando Medina (Mayor of Lisbon) is very pleased to host the Eurovision Song Contest in the capital:
It will be a great moment to showcase the city as a great global world capital.
The mayor went on to state that the message Lisbon would like to convey to everyone with this event:
We are an open, tolerant, cosmopolitan capital that welcomes all.
The 2018 Eurovision Song Contest is scheduled to be held on 8, 10 and 12 May in Lisbon, Portugal.