All You Need To Know About World Economic Forum (WEF).

The World Economic Forum (WEF) previously also known as European Economic Forum (EEF) is a non-government and lobbying organization has its headquarters located in Davos, Cologny, Canton of Geneva, Switzerland.

The yearly meeting at Davos hosted by World Economic Forum is a big event for all influential people, corporates, and politicians as well as paparazzi all around the world as it is one of the biggest events in the business world. Because it is the place where you can make connections with people who work in the same domain as you, you can bring investment for your firm or country and can also discuss the political and social issues in your country.

The annual meeting is generally held in 3rd or 4th week of January every year except it got canceled in 2021 and got rescheduled in 2022 due to the COVID-19 pandemic.

Claus Schwab is the founder and executive chairman while Borge Brende is the current president of the organization who manages the operations along with the Board of Trustees. Trustee Board is made up of a group of people who are either higher government officials or high-end businessmen. 

The World Economic Forum was founded by Claus Schwab on 24 Jan 1971. In the early days, Claus started working as a professor after he completed his graduation in engineering at the University of Geneva. Where He used to teach Business. Later founded the WEF which is funded by around thousand influential companies.

WEF advocates for multinational companies and for political and social issues globally. Initially, this meeting only includes people from business only but as its popularity grows it extended its vision to advocate the political and social issues around the world. That led to the entry of political leaders, world leaders, socialites, and celebrities into the meeting.

Before WEF’s functioning was only limited to Europe hence called as European Economic Forum (EEF) later they changed it to World Economic Forum to focus on worldwide issues.

Businessmen, Corporate Employees, World Leaders, Politicians, Representatives of Governments, Celebrities, and other specially invited people gather in the annual meeting at the resort located in the small town of Davos situated in the Alps hills. Before attending this meeting they have to pay a huge sum of delegate fees, this year it was $120,000. Here all the delegates get connected with people who can help them get business, investments, political connections, and corporate deals, and get to know some of the influential people in the world.

World economic forum is so famous that many heads of the countries attended its annual meeting including XI Jinping, Narendra Modi, and Brazilian President Jair Bolsonaro to represent their respective countries and advocate their social and geopolitical issues.

Except annual meeting in Davos, World Economic Forum also held meetings in other parts of the world such as Latin America, Africa, India, China, East Africa, and UAE thought the year on a decided date. The WEF and Claus Schwab received big-time criticism since their foundation till date, people accused WEF to influence the functioning of different organizations and companies. There are many conspiracies related to criticism put up against them by people such as the run shadow governments.