“After all the virtual meetings taking place in the last two years, leaders from politics, business and civil society have to convene finally in person again. We need to establish the atmosphere of trust that is truly needed to accelerate collaborative action and to address the multiple challenges we face,” said WEF founder Klaus Schwab.
The Swiss ski resort town of Davos will also breathe a sigh of relief at the news.
The flagship WEF event contributes tens of millions of francs each year to both Davos and the Swiss economy as a whole. Many hotels and restaurants rely on the annual influx of wealthy participants for a large slice of their income.
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