World Economic Forum delayed in 2021 due to the pandemic
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Zurich — The World Economic Forum (WEF) has said that the coronavirus has forced it to delay its high-profile gathering of global business and financial leaders in the Swiss resort of Davos until early in the 2021 northern hemisphere summer.
Normally held each January in the ski town, the gathering has attracted political leaders including US President Donald Trump and German Chancellor Angela Merkel, as well a parade of billionaires, executives and celebrities to debate global challenges.
The most recent instalment drew 3,000 participants from 90 countries, plus legions of support staff and hundreds of journalists. Nearby hotels host glamorous receptions to complement the debates held in the town’s conference centre.
2021’s event — titled “The Great Reset” — was intended to discuss how to shape the post-coronavirus economy. Despite the urgency of that conversation, “the advice from experts is that we cannot do so safely in January”, the WEF said in a statement on Wednesday.
The dates and location of a rescheduled 2021 annual gathering will be announced as soon as the health and safety of guests and the host community can be guaranteed, it added.
Founder Klaus Schwab told Bloomberg Television earlier in August that while planning for the event is under way, it isn’t clear what form it will take or when it will happen.
The WEF now intends to hold a series of digital “Davos dialogues” in the week of January 25 2021 to allow global leaders to share their views virtually.
It’s not the first time WEF has budged from Davos. Its 2002 meeting was held in New York, to show solidarity following the September 11 terror attacks.
The event has attracted local opposition in the past over the disruption and cost of policing the presence of so many wealthy and high-profile delegates. Still, the postponement will be a blow to the hospitality industry.
A lack of guests due to bans on international travel will be “painful”, Michael Straub, Davos’s first secretary, said in an e-mail.
The event generated an estimated Sf94m ($103m) in revenue for Switzerland in 2017, according to a University of St Gallen study. It garnered Sf2m in tax revenue for the town.
Bloomberg
Normally held each January in the ski town, the gathering has attracted political leaders including US President Donald Trump and German Chancellor Angela Merkel, as well a parade of billionaires, executives and celebrities to debate global challenges.
The most recent instalment drew 3,000 participants from 90 countries, plus legions of support staff and hundreds of journalists. Nearby hotels host glamorous receptions to complement the debates held in the town’s conference centre.
2021’s event — titled “The Great Reset” — was intended to discuss how to shape the post-coronavirus economy. Despite the urgency of that conversation, “the advice from experts is that we cannot do so safely in January”, the WEF said in a statement on Wednesday.
The dates and location of a rescheduled 2021 annual gathering will be announced as soon as the health and safety of guests and the host community can be guaranteed, it added.
Founder Klaus Schwab told Bloomberg Television earlier in August that while planning for the event is under way, it isn’t clear what form it will take or when it will happen.
The WEF now intends to hold a series of digital “Davos dialogues” in the week of January 25 2021 to allow global leaders to share their views virtually.
It’s not the first time WEF has budged from Davos. Its 2002 meeting was held in New York, to show solidarity following the September 11 terror attacks.
The event has attracted local opposition in the past over the disruption and cost of policing the presence of so many wealthy and high-profile delegates. Still, the postponement will be a blow to the hospitality industry.
A lack of guests due to bans on international travel will be “painful”, Michael Straub, Davos’s first secretary, said in an e-mail.
The event generated an estimated Sf94m ($103m) in revenue for Switzerland in 2017, according to a University of St Gallen study. It garnered Sf2m in tax revenue for the town.
Bloomberg
