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The World Economic Forum is grappling with an image problem

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The World Economic Forum is working to correct an image problem.

This week, nearly 2500 global leaders representing business, politics and civil societies will participate in rare Davos springtime edition.

Annual meeting attendees will gather in Switzerland’s luxurious Alpine ski resort Davos to discuss issues such as Covid-19 and Russia’s war with Ukraine.

The event organizers had postponed the meetingIt was moved to January due to safety concerns in the wake of the coronavirus pandemic. After a two-year absence, the forum’s in-person first event is now back, which was a welcomed boost for residents.

It themeThe theme of the year is “History At a TurningPoint: Government Policies & Business Strategies”.

It is very important to us. “It means a lot for the whole Switzerland,” Samuel Rosenast (a spokesperson of the local tourism board) said during an interview on CNBC. Tom Chitty.

Rosenast declared that the event was of “unbelievably importance” to residents in Europe’s top town. She estimated that the resort could make a profit of around 70 million Swiss francs (or $72 million) within the span this week.

“Every company is in touch with the World Economic Forum. Rosenast stated that people understand how vital it is. “The World Economic Forum is something that most people are excited about.” They’re happy it will take place again this year.

“A symbol of an era gone wrong”

However, not everyone will be happy to see the Swiss Alps being returned to business and politics. In recent years, the event was sharply criticised for its being out of touch, ineffectiveAnd irrelevant.

Rutger Bruggman (Dutch historian) became viral three years back at Davos. when he called out billionaires for tax avoidance. Bregman claimed that the main cause of inequality is a worldwide failure to address tax avoidance.

Bregman said that it was like being at a firefighter conference where no one can talk about water. “This is not rocket science … we have got to be talking about taxes. That’s it. Taxes, taxes, taxes.”

Davos is a Swiss resort that hosts the World Economic Forum’s annual meeting.

Harold Cunningham | Getty Images News | Getty Images

In recent years, protestors, activists, and others on the frontlines for inequality sought to question the WEF about its “empty rhetoricDavos was accused of being “a symbol for a failed age” and should be discarded.

A report published Monday by global charity Oxfam found that 573 people became new billionaires during the coronavirus pandemic — at a rate of one every 30 hours. According to the brief “Profiting From Pain”, 263 million more people are expected to fall into poverty in 2013. This is a rate equivalent of one person every 33 hours.

Davos is the place where billionaires will be celebrating an extraordinary rise in their fortunes. Gabriela Bucher (executive director at Oxfam International) stated that the pandemic, as well as steep rises in energy and food prices, have been a boon for them.

“Thus, the decades-long progress made in extreme poverty is now reversed and millions are struggling to keep their feet on the ground.

Philipp Wilhelm, a young man from his home town of Davos was a protester against the annual meeting of billionaires and politicians. Wilhelm, now the mayor, is determined to bring about a successful Davos meeting.

“I protested during this annual meeting because I felt it important to voice my concern that the climate crisis must be resolved. Wilhelm stated that the world needs to be more fair.

Wilhelm claimed that he took part in protests to make sure that everybody who arrives in Davos understands that these are important issues.

“Davos Man” has itself become synonymous with a stereotyped figure of a typical participant of the Forum — rich and powerful, perhaps out of touch, but most of all representative of the global elite.

Afp | Afp | Getty Images

Wilhelm said he — and WEF — had changed their positions since his protesting days, adding that he believes he can influence policy more effectively in his current role.

Wilhelm responded to a question about whether criticisms of WEF were too closely tied with Davos because the town has been largely synonymous with the forum.

“I think it is interesting that people know Davos as a place where people meet and discuss — and I mean it should be controversial. Wilhelm stated that there should be discussion on the best way to improve the world’s state.

Davos 2022 will be a ‘one mark in time’

“The work of the forum continues. Saadia Zaidi, the managing director of World Economic Forum, said that this meeting was only a marker in time.

“What we’ve been doing over the last two and a half years — while it hasn’t been visible through a particular meeting — is a set of work that is trying to make a dent on inequality and at the same time also make changes towards addressing one of the biggest existential risks we all face which is climate change.”

Zahidi answered when asked if rising inequality in income was an issue for the forum. It is obvious that those who do not fight inequality will experience slower growth.

“So, there must be an effort that addresses inequalities. So what is that effort? Zahidi explained that better education, higher skills and better employment are all possible. This will be front-and-center on the agenda for next week.”

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