The Eurovision Song Contest 2018, to be hosted by Portugal next May, is expected to cost RTP around €12 million.
This is the estimate issued by the public broadcaster and included in its 2018 budget.
RTP says it is committed to managing the event with efficiency despite the technical complexity of the contest.
“However, the total amount spent on the biggest European music festival will not be finalised until the end of the year, as talks are still under way with partners,” stated the national broadcaster.
Last week, a press conference was held to present the logo and the Eurovision 2018 slogan, "All aboard!" (here)
The chairman of RTP, Gonçalo Reis, said that this will be "the most economic festival of the last ten years, but with a high level of sophistication."
Lisbon council and Turismo de Lisboa will help finance the event with a €5 million contribution and Turismo de Portugal also will chip in with an, as yet, unspecified amount.
The total budget should not exceed €23 million, less that the 2017 event in Kiev which cost €30 million and the 2015 event in Vienna which cost €26 million but more than the Swedes who spent just €14 million to host the 2016 contest.
I can fully understand the importance of spending this amount of money on the Eurovision as it has the capacity to showcase Portugal as a business and tourist destination to over 40 countries worldwide.