World Economic Forum

The World Economic Forum (WEF) is a non-profit foundation that is primarily known for the annual meeting it organizes, which takes place every year in Davos. At this meeting in the modern Davos Congress Center, leading international economic experts, politicians, intellectuals and media professionals come together to discuss the most current issues facing the world. The Forum organizes various other meetings throughout the year and publishes research reports. It now has regional offices in Beijing and New York.

The role of the WEF, founded in 1971 by economics professor Klaus Schwab, is always impartial, as it is not tied to any political or national interests. The organization has observer status with the United Nations Economic and Social Council. Its highest oversight body is the Board of Trustees, whose members include Tony Blair and Queen Rania of Jordan. The forum's mission is to "improve the state of the world."

The World Economic Forum's flagship event is its annual meeting, held every year at the end of January in Davos. At the same time, Davos – partly due to its village-like atmosphere – is also a hub for many informal gatherings. The oft-cited "Spirit of Davos" is one of the reasons for Davos's success as a congress destination: Here, at 1,560 meters above sea level, nature takes center stage despite the urban infrastructure. It gives conference participants the feeling of being just a small part of the bigger picture. And it is precisely this atmosphere that repeatedly makes it possible to find compromises and solutions that would have been unthinkable elsewhere.

Discussions in the official program address key global issues such as international trade barriers, conflicts, poverty, and environmental problems, as well as potential solutions. Dozens of heads of state and government from around the world attend the WEF's annual meeting. In total, WEF participants come from 130 countries.

The guest list in Davos has always been, and continues to be, packed with world-renowned and influential figures from politics and business – including heads of state such as Nelson Mandela, Bill Clinton, Angela Merkel, Xi Jinping, and Donald Trump, as well as public figures like Greta Thunberg, princes, and leading figures from the tech and financial sectors.

In 1971, Klaus Schwab, then professor of corporate policy at the University of Geneva, invited 444 executives from Western European companies to the first "European Management Symposium," which took place in the Davos Congress Center. Under the patronage of the European Commission, Prof. Schwab intended to familiarize European companies with management practices in the United States. To this end, he founded the "European Management Forum" as a non-profit foundation based in Geneva and invited leading European business representatives to the annual meeting in Davos every January.

In 1987, the "European Management Forum" changed its name to the "World Economic Forum" and subsequently sought to broaden its vision and develop into a platform for resolving international conflicts. Leading politicians have since used Davos as a neutral platform. For example, the "Davos Declaration," which prevented Greece and Turkey from starting a war at the last minute, was signed in Davos by both countries in 1988. At the 1992 annual meeting, South African President Frederik Willem de Klerk, Nelson Mandela, and Mangosuthu Buthelezi made their first joint appearance outside of Africa. At the 1994 annual meeting, Israeli Foreign Minister Shimon Peres and PLO Chairman Yasser Arafat signed a draft agreement on Gaza and Jericho.