How Davos became the anti-establishment’s punching bag
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CNBC takes a look behind-the scenes at the reasons why the social backlash is increasing against the global elite. It also examines whether an Alpine gathering for the powerful and rich is the best way to resolve it.
This week, nearly 2,500 leaders in business, politics, and civil society will gather at Switzerland’s Davos Alpine Ski Resort.
Agenda items include Covid-19, Russia’s war in Ukraine, and climate crisis.
Critics argue that this annual meeting does not address growing economic inequality or tax avoidance. However, side events held by large corporations may give the illusion of a week-long party and networking.
Unfounded conspiracies have also been attributed to the World Economic Forum, which is now trying to resolve them.
We, along with many others organizations, have been misinformed. That is something we are trying very actively to eradicate.,” Saadia Zahidi (managing director, World Economic Forum) said this.
The return of WEF’s first-ever in-person forum has been a welcomed sight for many residents of Europe’s largest town.
According to estimates, the WEF meeting will bring in approximately 50 million euros (59 million million dollars) and 60 millions euros for the local economy.
You can see Davos prepare for the WEF Annual Meeting in the video.
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