International Relations

World Economic Forum (WEF) Summit at Davos

  • The World Economic Forum has started its annual summit in Davos, Switzerland (WEF)
  • WEF, headquartered in Geneva, Switzerland, is an international non-profit organisation dedicated to bringing together the public and private sectors to address global political, social, and economic issues.
  • It was established in 1971 by Swiss-German economist and Professor Klaus Schwab in order to promote global cooperation on these most pressing issues.
  • The World Economic Forum’s first meeting was held more than five decades ago in Davos, which has been the site of the annual gathering almost since its inception, and has also become a shorthand for the event.

WEF partners

  • The World Economic Forum is largely supported by its corporate partners.
  • These are typically multinational corporations with annual revenues in excess of $5 billion.
  • The WEF provides a platform for these corporations to “shape the future, accessing networks and experts to ensure strategic decision-making on the most pressing global issues.”
  • Partners range from Apollo Tyres to Apple, and they can come from any industry as long as they want to engage through the WEF’s platforms.
  • WEF also collaborates with government subsidies.

What is the purpose of the Davos summits?

  • Davos, sometimes referred to as “Europe’s highest town,” has hosted the World Economic Forum’s annual meeting every year since its inception, with one exception.
  • Davos, a ski resort and the annual host of the World Economic Forum’s meeting, is a charming town nestled in the Swiss Alps.
  • In many ways, it is an unexpected venue for a gathering of global economic titans and geopolitical leaders.
  • Following the 9/11 attacks, the meeting was held in New York in 2002 as a show of solidarity.

Who are the participants, and what happens in Davos?

  • Davos typically attracts global business executives and policymakers, and attendance is strictly by invitation only.
  • The sitting US president, top EU and UN leaders, business leaders and entrepreneurs, academics, heads of NGOs and charities, the media, activists, and even some celebrities will usually attend.
  • Donald Trump, Jens Stoltenberg, Ursula von der Leyen, Greta Thunberg, Elton John, and a slew of other well-known figures have previously attended Davos.
  • Hundreds of discussions, keynote speeches and panels, and crucial networking sessions are held at the conference, which is usually held behind closed doors in five-star hotels.
  • CEOs and investors seize the opportunity to conduct face-to-face transactions.

Davos 2023: What’s on this year’s agenda?

  • The annual meeting in Davos this year will take place from January 16 to 20, 2023.
  • The theme is “cooperation in a fragmented world,” and it is subdivided into five sub-themes: energy and food crises, inflation, technology for innovation, social vulnerabilities, and geopolitical risks.
And get notified everytime we publish a new blog post.