Algarve Tipped for Formula 1 Return in 2027

Portugal is revving up for a dramatic return to motorsport’s grandest stage.

Prime Minister Luís Montenegro recently declared the nation has “everything ready” to formalise the comeback of Formula 1 at the Algarve International Circuit in Portimão.

The venue last hosted motorsport’s premier event during the pandemic-blighted seasons of 2020 and 2021.

With MotoGP already locked in for 2025 and 2026, the government sees F1 in 2027 as a strategic follow-on, accelerating Portugal’s reputation for hosting the biggest races on two and four wheels.

Montenegro said that while “these events require financial effort from the state”, they “yield a return - direct and intangible - that makes them genuinely worthwhile”.

The Algarve circuit has earned rave reviews for its undulating terrain and hair-raising blind crests, praised by drivers for delivering a “roller-coaster” of a ride.

Yet the challenge remains: with Formula 1’s calendar capped at 24 races and fierce competition from countries such as Turkey, South Africa, Argentina, and Thailand, securing that sought-after slot will require bold negotiation - and possibly creative solutions like rotating slots.

Portugal’s Reputation for International Events

Portugal will be co-hosting the 2030 FIFA World Cup alongside Spain and Morocco - a landmark decision ratified by the FIFA Congress in December 2024.

It will be particularly historic as it marks the first World Cup spread across three continents: Europe, Africa and South America.

The tournament will feature 20 stadiums across 17 cities: Spain will host 11, Morocco six, and Portugal two - in Lisbon and Porto.

While some of the earliest matches will be played in Uruguay, Argentina, and Paraguay as part of the centenary celebrations for the tournament, Portugal’s contributions remain central to the European phase of the competition.

Portugal’s appeal goes well beyond sport. The country is emerging as a powerhouse in the global events ecosystem—spanning high-tech summits, global conferences, cultural festivals, and sporting spectacles.

The International Congress and Convention Association (ICCA) ranks Portugal ninth in the world and seventh in Europe among countries hosting conferences and conventions.

Tech Titans and Global Summits

Lisbon also hosts the famed Web Summit, one of the world’s largest technology conferences, drawing tens of thousands of attendees each year. In 2024, the event attracted more than 71,000 participants and more than 3,000 exhibiting companies.

Events like the Estoril Conferences - featuring Nobel laureates and international leaders discussing global challenges - and Boom Festival in Idanha-a-Nova, celebrated for its global cultural draw and sustainability, further cement Portugal’s diverse event portfolio.

A Proven Track Record of Economic Impact

Portugal’s status as a premier host of major events is backed by strategic incentives. Since the April 2023 launch of the Portugal Events Programme by Turismo de Portugal – the nation’s tourism authority - more than 238 applications for associative and corporate events have been processed.

Beyond event hosting, Lisbon’s impressive standing among global cities in the conference sector (second only to Vienna in 2024 in terms of numbers) and the nearly 300 conferences held in Portugal confirm its position as a centre for global gatherings.

Paul Stannard, Chairman and Founder of Portugal Pathways and the Portugal Investment Owners Club, said: “Portugal has seen growth in media and international events such as the Web Summit, Portugal Investment Owners Club investment forums, and the IFA Global Conference 2025 that will bring over 2,000 of the world's leading advisors in tax and investment to Portugal this year.

“Lisbon was named one of the top three worldwide destinations last year for congresses and conventions by the International Congress and Convention Association.

“This, in addition to a thriving tourism industry, thanks in part to its strategic location on Europe’s Western edge, gives investors a great opportunity to be a part of Portugal’s continued rise.”

In addition to media and events, other key industries - including fintech, digital assets, healthcare, and hospitality - have contributed to Portugal’s impressive GDP growth over the past five years.

Paul Stannard adds: “Portugal has created a unique environment for like-minded people to be able to create sustainable investments in key sectors of the country’s economic strength, allowing value creators as well as highly qualified talent to prosper through a combination of tax incentives, quality of life, and investment.

“It’s no surprise that a recent report from Ernst & Young on Portugal’s competitiveness found that investor confidence was at an all-time high compared with the Eurozone and the UK.

“Portugal is clearly charting a bold path forward - seeking to secure F1 back in the Algarve in 2027, while building on its performance in international event rankings.

“With high-level support, targeted incentives, and a strategy of diversity, the country is becoming an increasingly magnetic location for organisers and investors alike.”

‍

About Portugal Pathways

Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on luxury property, wealth management, and tax optimisation, including post-NHR tax regime planning, as well as private healthcare, IFICI tax incentive applications, money transfers and bespoke relocation solutions to enhance life and investments in Portugal.

About Portugal Investment Owners Club

The Portugal Investment Owners Club, or P Club for short, is a unique investor membership community designed for discerning individuals, families, and organisations committed to exploring and capitalising on life in Portugal and enjoying money-can't-buy experiences and exclusive events.

‍

Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.

‍