The Annual Meeting of the World Economic Forum in Davos, Switzerland will be held from January 23 to 26. There are hundreds of global leaders that plan to attend such as politicians, business leaders, professors, journalists, and so on.
This year the theme of the meeting is “Creating a Shared Future in a Fractured World.”
What is Davos?
Davos is the name of a Switzerland town. It is well known for its Ski Resort.
- Davos has an area, of 283.98 km2 (109.65 sq mi);
- Davos has a population (as of December 2016) of 11,060;
- In 2015 7.3% of the population was born in Germany and 6.9% of the population was born in Portugal;
- Highest elevation (Schwarzhorn) 3,146 m (10,322 ft);
- Lowest elevation (Landwasser (river)) 1,052 m (3,451 ft).
What is the World Economic Forum?
It is a Swiss nonprofit foundation, was established in 1971 and is headquartered in Geneva, Switzerland.
First named the “European Management Forum”, it was later changed to the World Economic Forum in 1987.
The founder and executive chairman, is Klaus Schwab, a German engineer and economist. He first invited over 400 business executives, and the plan was to bring together European and US business practices. Later he sought to broaden its vision to include providing a platform for resolving international conflicts.
Why is the WEF important?
Because some of the most powerful people of the world will be there. People with the power to change regulations, laws, to invest more or less in a region, and so on. It will be important to know in which subjects they agree, and what do they plan to do next.
Also I consider valuable to hear the opinion of business leaders, because a lot of them are now working on products that will change the world in future years. Future business and investment opportunities may arise if we listen carefully to what they will say and write.
On the other hand critics say that Davos is mostly about networking and business leaders influencing politics. Therefore changing tax and other laws in their favor. Also they say that Davos should be more about fighting social problems such as growing inequality and populism.
The membership and partnership fees range from $62,000 to $620,000 depending “on the level of engagement”. Expensive! Or not so much, as a lot of companies gladly pay for this. Basically companies who are ‘associate partners’ or ‘partners’ of WEF pay more annually and get more access at Davos.
And you reader, what’s your opinion about the World Economic Forum? Do you watch/read the reports and opinions about global leaders? Do you think it holds any value to listen to them?