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Over $50 for a burrito? World’s elite splash the cash on snacks at Davos


Steigenberger Grandhotel Belvedere’s burrito came with salsa and guacamole.


DAVOS, Switzerland — Hungry attendees at this year’s World Economic Forum may have found some of the food a little hard to stomach, with some eye-popping prices in some locations.

A stone’s throw from Davos Congress Center is the Steigenberger Grandhotel Belvedere. It was selling burritos on its “snacks menu” for just 49 Swiss Francs ($51).

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A small portion of salsa and guacamole was added to the dish. A burrito at Taco Bell, for example, can be as low as $2.

For 21.50 Swiss Francs (22.41), a portion of French fries could also be purchased at Belvedere

Returned in 2015 CNBC found a hot dog on sale for $43 at the same hotelThe conference spot is located in prime Davos Strip location.

The prices for this year are less shocking given recent inflation spikes, but they do highlight just how important it is to be honest. how expensive the World Economic Forum at the Alpine resort can be.

Swiss inflation hit 2.5% in April. While it might not compare to runaway price levels in the U.S. and the EU, this was still an 14-year high for central European nations.

Davos was largely unsnowy because the World Economic Forum in May took place instead of the normal January timing.

Arjun Kharpal | CNBC

Spring Davos

Overall, the Davos event in May was different than usual.

You could almost find an empty seat outside at the Davos local grocery store, right next to the main Congress Center.

People were often seen on the terrace, enjoying coffee, eating and smoking before heading to meetings. Davos’ crowd was not used the Swiss heat and made the most out of it.

CNBC received a report from a passerby saying, “It’s so, so beautiful,” as they were walking down Main Street.

A Davos participant added, “I cannot get over how beautiful the weather is.”

The annual economic shindig — which brings together the world’s most powerful and richest — traditionally takes place when the mountains are covered in snow and participants wear snow boots and ski jackets wherever they go.

Due to the coronavirus pandemic in May, however, this year’s meeting had to be rescheduled for late May. Participants noted that it was much easier this time.

“Moving around, it’s more friendly — it is more user-friendly,” a businessman waiting by the cloakroom said. Elsewhere, CNBC caught sight of two waiters taking a nap on a grassy patch near their restaurant — much easier if there isn’t two feet of snow on the ground. Also, there was plenty of icecream on offer.

The grass was a great place for waiters who were working on events outside of Davos’s main congress centre.

Arjun Kharpal | CNBC

Snow boots are not for sandals

At a spring Davos, there’s no fear of slipping over or problems getting one of the few taxis or Ubers available in town — you simply walk everywhere, providing it isn’t raining. Wearing lighter clothing also means there’s no need to remove multiple layers when entering the Congress Center — you just walk in wearing your professional attire, saving a good few minutes on arrival.

Davos participants were able to refresh themselves by enjoying a free cup of ice cream.

Arjun Kharpal | CNBC

Although you could wear snow boots to this year’s event, attendees mostly wore formal attire.  

One delegate said that a quieter Davos had allowed him to have more time for important meetings — but it’s not all good news.

“There are just fewer people in this year’s meeting. The May meeting clashes with G-7 meetings, G-20 meetings and NATO meetings. CNBC was told by a CEO of one of Europe’s biggest banks that all politicians and business leaders had blocked the third week in January.

Restaurants packed

Almost 2,500 participants were expected at this year’s WEF — down from the 3,000 in January 2020. There was also no sign of major names such as leaders from the United States, China, or India.

“The classic [January]The meeting becomes more memorable by using the formula [The spring edition]Alberto Alemanno from The Good Lobby told CNBC that the recipe loses a little of its original flavor.

“January is a new month in politics. We are starting from scratch. New pledges, new commitments — it just makes more sense [in January]He said so.

Most restaurants still remain full, even though there are fewer customers. Famous for serving punters hot slabs of meat, Steakhouse Ochsen reported that the restaurant was still packed.

They come to eat steak,” said the waitress. 

Steakhouse Ochsen is famous for its hot stone. You eat the meat on the hot stones.

Arjun Kharpal | CNBC