They say that if you are not a professional skier, then a winter trip to Davos means only one thing: You’re going to the World Economic Forum.
Since 1971, more than 2000 business and political leaders, economists and celebrities from different sectors, along with journalists take part in Davos which is hosted annually by World Economic Forum, to find solutions to the world’s economic, political and social problems. The event usually last 3-4 days.
Found by Klaus Schwab, it was first named “European Management Forum”, and its main purpose was to introduce European firms and companies to American management techniques. However, in 1987 it was renamed to “World Economic Forum”.
WEF is a non-profit foundation based in Geneva and names itself as International Organization for Public-Private Cooperation. According to the website of WEF, its mission is to “improve the state of the world. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change”, WEF states.
Each year an official theme is put forth by WEF, and the discussions and meeting revolves around that theme. Nevertheless, many other topics are discussed during the convention, as Davos is believed to be an opportune networking opportunity. In recent years, specially after the 2008 financial crisis, Davos has found more popularity among governments and countries.