The Annual Meeting of the World Economic Forum is known to most people simply as Davos – the town that hosts the event.
Every January (with the exception of two years of the Covid-19 pandemic, where 2021 moved online and the following year was held in May) close to 3,000 participants gather in the Swiss Alpine town to discuss affairs of the world, to strike deals and come to agreements. They are accompanied by thousands of advisers, security and media personnel, with the security details expanding in correlation to the power of the attendee.
For many critics of the economic and political system of the last half century or so, Davos is often cited as emblematic of an “elite” that controls the world and forces events that are to its benefit. As someone who has participated in Davos for much of the past two decades, I can attest to the fact that there is no control descending from the “magic mountain” to the world, and even more importantly, the diversity of opinion and thought among those attending would make it impossible to come to an agreement on one global policy to be implemented, whatever it may be.
However, there is no denying that the WEF does bring together incredibly powerful people, from the CEOs of major tech companies to world leaders and celebrities. And they have a stake in generally keeping the world order as it is, as it has allowed them to succeed.
An effort to maintain the status quo for those who enjoy elevated status is a general phenomenon, but it does feel heightened at Davos’s altitude. Yet that is just the start of the story. Many of the participants are smart people, who want to figure out solutions that affect us all, regardless of status or wealth, including health, climate and online safety, because there is no getting away from their effects.
There are also those advocating for the less fortunate. Leaders of organisations like Oxfam and Unicef are able to advocate for their constituents and seek solutions that can only really come about when all those that matter are in the same place. That is truer today than ever before. With geopolitical governance fraying and the global economic system weighed down by the drastic changes the world is facing, having a structured convening of representatives of various industries, geographies and education is vital.
If previous meetings of the forum were important to co-ordinate and enhance collaboration, this year it is about considering how to rewrite the rules altogether. “A sprit of dialogue” is an apt title. That challenge, not only for the organisers but for all attendees as well, will be to live up to that spirit.
This will be a Davos of many firsts. A first in-person attendance of US President Donald Trump in his second term. He will bring with him the largest US delegation to ever attend the forum, in its 56th annual meeting. Such a level of attendance is a statement of intent and interest.
This is also the first Davos since the dramatic change in Venezuela on January 3 and the removal of Nicolas Maduro as its President. His opponents have often attended Davos, and this year will see a heightened interest about what the opening up of Venezuela could mean. Previous years have had discussions on international law when it comes to Russia’s ambitions in Ukraine. How the latest American ambitions in Greenland and the Western Hemisphere will be discussed will be of interest.
This will also be the first Davos for a whole host of new UN leaders – from the UN Development Programme to the UN Refugee Agency. They have their work cut out for them with funding cuts from the US, UK, Germany and other major donors. Although the US subsequently announced $2 billion aid package, funding gaps are huge and humanitarian leaders will benefit from being close to private sector heavyweights attending Davos looking at initiatives to invest in. The WEF Annual Meeting was after all where Bill Gates launched his historic role in the Gavi alliance for vaccines in 2000 with a $750 million pledge. And it will be the first Davos since the US pulled out from major organisations like the World Health Organisation and climate agreements. A spirit of dialogue will be greatly needed for international collaboration.
And looking to the region, this will be the first time a Syrian president will attend Davos, as Damascus has been historically hostile to the WEF, as part of its former regime’s so-called “anti-imperialist” position. While the previous establishment's officials like former presidential adviser Buthaina Shaaban would on occasion attend, ex-presidents and senior leaders of the Assad regime did not. Six weeks after its fall in December 2024, current Foreign Minister Asaad Al Shibani was in Davos where he famously was interviewed on stage by former British prime minister Tony Blair. Much has transpired in the interim, most importantly a firm move by Syria out of the Iranian Axis and the anti-western camp.
Egyptian President Abdel Fattah El Sisi will be among first-time attendees, too. And the Gaza Peace Board is due to meet in Davos where historically Palestinians and Israelis have met, often in off-the-record and quiet meetings to allow for a safe space to talk.
And this will be the first Davos without its founder, Klaus Schwab. Those who know Prof Schwab have differing and mixed feelings about him, even as many remain fiercely loyal to him. But no matter what your personal views are, there is no denying he built an organisation that has proven time and again its relevance and strength.
With a spirit of dialogue and innovation, WEF President and CEO Borge Brende said this week “we collaborate differently than in the past”. That requires an open mind and a willingness to reduce our cynicism and find practical solutions for now and the future. That is why Davos matters today more than ever before, if those who attend it live up to the forum’s declared commitment to “improve the state of the world”.
It is a big if, but an important one.
