Davos Summit
About
- The Davos Summit is the annual meeting of the World Economic Forum (WEF) held every January in the Alpine resort town of Davos, Switzerland.
World Economic Forum:
- The World Economic Forum is the International Organization for Public-Private Cooperation.
- It was founded by economist Klaus Schwab in 1971 as a not-for-profit foundation. It is headquartered in Geneva, Switzerland.
- The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas.
- The Forum is mostly funded by its 1,000 member companies – typically global enterprises with more than $5 billion in turnover – as well as public subsidies.
- The summit is designed to be a platform for public-private cooperation and one of the world’s most influential gatherings of global leaders.
- Davos is attended by heads of state, government ministers, civil society organisations, CEOs of multinational companies, economists, academics, and the media.
- The first summit held in Davos in 1971 was a gathering of business executives. However, over the years, it has expanded in scope, discussing issues as diverse as economic disparity, climate change, technology and global cooperation.
Why in News?
- The 56th Annual Meeting of the World Economic Forum is currently going on in Davos, Switzerland.
