World Economic Forum postpones its in-person meeting in January over Omicron fears

The meeting is now planned for early summer next year

The WEF says it will organise online "State of the World" sessions to get global leaders talking. Reuters

The World Economic Forum's annual meeting, which was scheduled to be held from January 17-21 as an in-person event in Davos, has been postponed because of the outbreak of the Omicron coronavirus variant.

It is now planned for early summer, the WEF said on Monday, without disclosing the exact dates.

“Participants will instead join a headline series of State of the World sessions bringing together global leaders online to focus on shaping solutions to the world’s most pressing challenges,” the WEF said.

The deferral of the annual meeting will not prevent progress through continued digital convening of leaders from business, government and civil society, Klaus Schwab, WEF's founder and executive chairman said.

“Public-private co-operation has moved forward throughout the pandemic and that will continue apace. We look forward to bringing global leaders together in person soon,” he said.

Omicron – also known as B.1.1.529 – is a coronavirus strain with an unusually large number of mutations and was first detected in South Africa. It has since spread to more than 77 countries.

The new strain could have a less damaging effect on the lungs than the Delta variant of Covid-19, but its extremely high transmissibility still presents a “major public health challenge”, a UK study has found.

Several experts say that even a less severe variant of Covid-19 could overwhelm hospitals, with disastrous consequences.

About 3,000 high-level executives and officials, and leaders of more than 50 countries, gather annually for the meeting in the Swiss ski resort. However, it was cancelled this year because of safety concerns about the Covid-19 pandemic.

In September, the WEF said it will return as an in-person event next year, under the theme of “working together, restoring trust”.

Current pandemic conditions make it extremely difficult to deliver a global in-person meeting, the WEF said on Monday.

“Preparations have been guided by expert advice and have benefited from the close collaboration of the Swiss government at all levels … despite the meeting’s stringent health protocols, the transmissibility of Omicron and its impact on travel and mobility have made deferral necessary,” it said.

Rising Covid-19 infections across Europe have led to renewed movement restrictions even as the holiday season approaches.

Germany and Britain are among the countries considering emergency measures as governments race to administer booster vaccines to contain the fast-spreading Omicron variant.