What is Davos? Why is it important? Information about the World Economic Forum Annual Meeting

advertisement

At other times of the year, Davos is not particularly noteworthy other than being a popular ski resort high in the Swiss Alps.

But for one week in January, this small alpine town becomes the center of global attention as the world’s elite gather in this small alpine town for the annual meeting of the World Economic Forum (WEF). why? We discuss the future direction of life on our planet and the pressing issues of today.

So what is the WEF, what actually happens at Davos, and why is it important?

What is the World Economic Forum?

The WEF was founded in 1971 by Swiss-German economist and professor Klaus Schwab with the aim of fostering global cooperation on political, social and economic issues.

The purpose of this international non-profit organization, currently headquartered near Geneva, is to bring together the public and private sectors to brainstorm solutions to these global problems, which remains one of its founding principles. , which speaks to its mission statement. : “Working to improve the world situation.”

The WEF’s first meeting 50 years ago was held in Davos, and it has been the focal point of its annual gathering every year since, with the resort’s name also becoming a common abbreviation for the event.

Who will attend Davos?

What do Donald Trump, Greta Thunberg, and Elton John have in common? Probably nothing on the surface, but the one thing that unites them all is that they have previously attended Davos That means there is.

One of the most unique things about Davos is the participants. While often criticized as a talk shop for the world’s privileged 1%, this is a place where you can lobby and influence these powerful elites to affect global change. It is also a place where people gather.

Typically, world leaders such as the current U.S. president and leaders of the European Union and United Nations are expected to attend, but also business leaders and entrepreneurs, prominent thinkers and academics, NGO and philanthropic heads, innovators, The media, civil society, activists of all faiths, and sometimes even celebrities.

And having them all in one place at the same time means that many people have unprecedented access to the world’s decision-makers.

Official guest lists are often very limited, consisting of around 2,000 to 3,000 participants and speakers, although the conference itself draws thousands more to surrounding events.

It is also a place where companies, and even countries and regions, set up stalls to sell their concepts and services or attract investment.

Along Davos’s main thoroughfare, the Promenade, there are spaces (often retail outlets that are rented out for a week) for companies to set up embassies or outposts to welcome visitors or hold meetings. ) There are places that have become known as “houses” where you can rent. upon.

In addition to keynote speeches and panel discussions at the Congress Center, the main hub of Davos, this in itself is a distinctive feature of the annual event.

Why go to Davos?

One of the WEF’s founding principles is impartiality, independence and no special interests. But feelings aside, criticism is never far away at Davos.

Given the juxtaposition of competing agendas and the overlap between the political and corporate spheres, the WEF often joins the attack line of adversaries who claim to be the world’s malign forces.

For example, in his book The Davos Man, New York Times economics correspondent Peter Goodman challenges billionaires and elites he blames for creating the world’s biggest problems to find solutions. He emphasized the contradiction in what he was asking for.

For example, one of the main criticisms leveled at event organizers each year is the hypocrisy of making the climate crisis a topic of conversation when in 2022 one in ten attendees will fly to the conference by private jet. .

advertisement

Davos may be a lecture hall for the world’s rich and powerful, but it is an unparalleled forum for discussion and debate on a global scale, and in its 50-year history has hosted several important conferences. We are achieving results.

The agreement signed at the conference in 1988, known as the Davos Declaration, is believed to have helped move Turkey and Greece from the brink of armed conflict.

Again in 1992, Nelson Mandela and then South African President FW de Klerk appeared together on the international stage for the first time at the Davos Conference, which was undoubtedly an important step towards ending apartheid. The two were awarded the Nobel Peace Prize the following year.

In 2000, the Global Alliance for Vaccines and Immunization (Gavi) was launched in Davos and has since improved access to vaccines for millions of people. Since its creation, he has helped vaccinate 760 million children worldwide.