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What you should know about Davos and why the global elite hobnob there

Thousands of people descend on Switzerland's Davos every year for the annual World Economic Forum. Here's what you need to know about the resort town and why the world's richest gather there.

A view of Davos in 2020.
A view of Davos in 2020. Photo by Damian Markutt on Unsplash

Where and what is Davos?

Davos is located in the Graubünden (also known as Grisons) canton in eastern Switzerland. This area is known for its stunning Alpine scenery and as haven for winter sports. It’s also the only trilingual canton of Switzerland and the only one where Romansh, Switzerland’s fourth national language, has official status.

READ ALSO: Everything you need to know about the Swiss language Romansh

The small town is known for its ski resort, often attracting a wealthy clientele to the slopes. And situated at 1,560 metres above sea level, it’s officially the highest town in Europe.

As well as its diverse offering of sports and leisure, Davos is well known as being a meeting place for world experts, powerful business leaders, politicians and the super-rich thanks to its role as host of the World Economic Forum (WEF). 

The 2024 WEF, which runs from on January 15th to January 19th will be attended by around 2,500-3,000 people. 

READ ALSO: Switzerland ‘in favour of minimum corporate tax rate’

Why do the rich and powerful meet there?

It’s mainly down to organisational reasons dating back to the early days. Klaus Schwab, founder of the World Economic Forum and, at the age of 84, still its executive chairman, is German by birth. But he has Swiss ancestors, and knows Davos from his childhood. As a 10-year-old, he learned to ski there, Schwab has said.

In the founding phase of the Forum, Schwab was an economics professor at the Centre d’Etudes Industrielles in Geneva and was supposed to organise an event for its anniversary in 1971.

His idea was to organise an international meeting of managers, the European Management Symposium, which was the name of the World Economic Forum until 1987.

Davos was chosen as the venue because the congress centre had opened there shortly before and the town had sufficient hotel capacity.

However, Davos is also valued because of its secluded location. Moreover, the community is located in the middle of Switzerland, which is considered a neutral country.

READ ALSO: $10,000 hotel rooms (and other surprising numbers that tell the story of Davos)

Who lives there?

Davos has a permanent population of around 11,000 people nestled in the plateau between the peaks of the Alps. Those who live there are probably into sports, or at least getting fresh mountain air.

Downhill and cross-country ski areas include Jakobshorn, Pischa, Rinerhorn and Parsenn. Tourism bosses advise people to head to the slopes when the WEF is taking place because they’re quieter then. 

Meanwhile, summer activities include swimming and sailing on Lake Davos, as well as hiking and mountain biking. 

There’s also a scenic train ride called the Glacier Express that connects Davos to the Matterhorn.

Davos is also known for its coffee houses, theatres, concerts, cinemas and bustling nightlife. 

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DAVOS

Davos forum to be held in person May 22-26

The Davos summit will be held in person for the first time during the Covid-19 pandemic, from May 22-26, the World Economic Forum announced Friday.

Davos forum to be held in person May 22-26
Founder and Executive chairman of the World Economic Forum Klaus Schwab and WEF president Borge Brende listen India's Prime Minister Narendra Modi speaking remotely during the World Economic Forum (WEF) Davos Agenda virtual sessions at the WEF's headquarters in Cologny near Geneva on January 17, 2022. Photo: Fabrice Coffrini/AFP

The annual gathering of the world’s political, economic and business elite traditionally takes place in January against the idyllic snowy backdrop of the Swiss ski resort of Davos.

But the forum has not been held since January 2020, despite repeated postponements and even a proposed one-off shift to Singapore.

“After all the virtual meetings taking place in the last two years, leaders from politics, business and civil society have to convene finally in person again,” WEF founder Klaus Schwab said in a statement.

“We need to establish the atmosphere of trust that is truly needed to accelerate collaborative action and to address the multiple challenges we face.”

The gathering, under the theme of “Working Together, Restoring Trust”, will offer leaders a chance to take stock of the state of the world and shape policies for the crucial period ahead, the WEF said.

“Topics on the agenda will include the pandemic recovery, tackling climate change, building a better future for work, accelerating stakeholder capitalism, and harnessing the technologies of the fourth Industrial Revolution,” it said.

The WEF has been holding an online series of round-table events this week at which world and business leaders shared their views on the global economic outlook.

The Geneva-based organisation said it would be in close communication with the Swiss government on the Covid-19 situation in the wealthy Alpine nation.

“The meeting will take place as long as all necessary conditions are in place to guarantee the health and safety of its participants and the host community,” it said.

Switzerland, population 8.6 million, is battling a fifth wave of the pandemic, registering nearly 38,000 new cases on Wednesday — a rate higher than in the surrounding European Union.

The January 2020 edition of the WEF summit, hosted just as the world was beginning to become aware of the new coronavirus spreading in China, drew more than 50 heads of state and government to the village of Davos.

US president Donald Trump and Swedish teenage climate activist Greta Thunberg were among its top speakers.

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