The Web Summit has announced plans to hold a new event in Rio de Janeiro in Brazil next year.

This will be the first Web Summit event to be held outside of Europe.

"I hope and expect Web Summit Rio will become one of the largest tech events in the world," said Paddy Cosgrave, founder and CEO of Web Summit.

"International investors are looking at Latin America, and Brazil in particular, attracted by some of the hottest startups in the region.

"We feel it is the place to be right now, and we can't wait to have our first Web Summit Rio there in 2023," he added.

The event is due to take place from 1 May to 4 May at the Riocentro centre, with 10,000 people expected to attend in the first year.

The speaker line up is due to be announced over the coming months.

"Rio has a tradition of hosting major international events, and we are proud to have been chosen as the first city in Latin America to host this major event," said Mayor Eduardo Paes of Rio de Janeiro.

The new event in Brazil will be in addition to the Web Summit event in Lisbon in Portugal - which Mr Cosgrave said they have committed to until at least 2028.

"Web Summit in Lisbon has become very special, and will be there for a long time to come," he said on a conference call this afternoon.