World Economic Forum

A man named Klaus Schwab started a group.

It was called the World Economic Forum. He wanted leaders to talk and work together.

They meet every year in a snowy place. This place is called Davos.

Many leaders go there to talk.

They talk about big things. They talk about money and the earth. Some leaders even help stop wars.

Many people pay to be part of it. They want to help shape the world. They meet for five days.

It is a very big job for them. They try to make the world better.

Klaus Schwab started a group in 1971.

It was first called the European Management Forum. In 1987, it changed its name. Now it is the World Economic Forum. The group is based in Switzerland. Its mission is to help the world. It brings leaders together to talk about big ideas.

Each year, people meet in Davos.

Davos is a snowy place in the Alps. About 3,000 people attend the meetings. They include business leaders and politicians. They also meet with journalists and stars. They talk for five days. They discuss things like money and the earth.

Sometimes, these meetings help solve problems. In 1992, leaders from South Africa met there. In 1988, two countries signed a pact to avoid war. But the group also faces hard questions. Some people worry about how it is run. Others worry about the cost to the planet. In 2022, leaders talked about the war in Ukraine.

They also discussed climate change and rising prices.

The World Economic Forum, or WEF, is a special group for leaders.

It is a non-governmental organization based in Cologny, Switzerland. The group acts as a think tank to help solve global problems. Its main goal is to improve the world by bringing people together. This includes leaders from business, politics, and schools. They work to shape agendas for different parts of the world. By talking together, they hope to make big changes.

The group is most famous for its big annual meeting.

This meeting happens every January in Davos, Switzerland. Davos is a beautiful mountain resort in the Alps. About 3,000 people attend the meeting for five days. These guests include investors, business bosses, and political leaders. They also invite economists, celebrities, and journalists. During the meeting, they hold 500 different sessions to discuss global issues. Large companies pay to be members to fund this work.

Klaus Schwab started this group many years ago.

He was a business professor at the University of Geneva. In 1971, he founded the European Management Forum. He invited 450 business leaders to the very first meeting. In 1987, the group changed its name to the World Economic Forum. This change helped it focus on solving international conflicts. By 1974, the group began inviting political leaders to join them.

History shows that these meetings can lead to important moments.

In 1988, Greece and Turkey signed the Davos Declaration to avoid war. In 1992, leaders from South Africa met for the first time outside their country. In 2017, the leader of China, Xi Jinping, spoke at the meeting. In 2018, Indian Prime Minister Narendra Modi gave a keynote speech.

Even in 2022, President Volodymyr Zelenskyy spoke about the war in Ukraine.

Not everyone agrees with how the forum works.

Some people criticize the group for many different reasons. They worry about the cost of security for the meetings. Others worry about the environmental footprint of traveling to the mountains. Some people say the group is not transparent about its money. There have also been concerns about how the leaders are chosen. Despite these hard questions, the forum continues to host leaders from all over the world.

The World Economic Forum (WEF) is an international non-governmental organization and think tank. It is based in Cologny, Switzerland. A think tank is a group that researches and studies specific topics to provide advice. The WEF aims to improve the state of the world. It does this by engaging leaders from business, politics, and academia. These leaders work together to shape global, regional, and industry agendas.

The organization is most famous for its annual meeting in Davos. Davos is a mountain resort in the Swiss Alps. Every January, the forum hosts this meeting for about five days. Around 3,000 paying members and selected participants attend the event. These attendees include investors, business leaders, and political leaders. They also include economists, celebrities, and journalists. During the meeting, participants engage in approximately 500 different sessions. These sessions allow for deep discussion on various global issues.

The WEF is primarily funded by its 1,000 member multi-national companies. Beyond the Davos meeting, the organization has many different roles. It convenes regional conferences in various parts of the world. It also produces a series of detailed reports for its members. The forum provides a platform for different stakeholder groups to collaborate. This helps leaders work together on specific projects and initiatives.

Klaus Schwab founded the organization on January 24, 1971. At the time, he was a business professor at the University of Geneva. He originally named the group the European Management Forum. In February 1971, he held the first symposium in Davos. He invited 450 executives from Western European firms to attend. His goal was to introduce European firms to American management practices. In 1987, the group changed its name to the World Economic Forum. This change reflected a broader vision to help resolve international conflicts.

History shows that the forum has hosted many significant diplomatic moments. In 1988, Greece and Turkey signed the Davos Declaration. This helped the two nations avoid a potential war. In 1992, South African President F. W. de Klerk met Nelson Mandela in Davos. This was their first joint appearance outside of South Africa.

In 1994, Israeli minister Shimon Peres and PLO chairman Yasser Arafat reached a draft agreement. These events show how the forum acts as a venue for political dialogue.

In recent years, the forum has hosted many world leaders. In 2017, Chinese leader Xi Jinping attended to defend global economic schemes. He spoke against protectionism and supported environmental causes. In 2018, Indian Prime Minister Narendra Modi gave the inaugural keynote speech. He discussed global warming, terrorism, and protectionism as major challenges. In 2022, Ukrainian President Volodymyr Zelenskyy addressed the forum regarding the Russian invasion of Ukraine. The 2022 meeting was notable because no Russian delegation attended.

Despite its influence, the WEF faces various criticisms and challenges. Some critics allege the organization allows for the corporate capture of democratic institutions. There are also concerns regarding the organization's tax-exempt status. Some people point to a lack of financial transparency and unclear decision processes. The environmental footprint of the annual meetings is another frequent criticism. The forum has also faced internal leadership changes. In 2025, Klaus Schwab stepped down as Chair after many years of leadership.

Additionally, Børge Brende resigned in 2026 following reports regarding his personal associations.