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Background of WEF:
- Establishment: Founded in 1971 by Klaus Schwab, WEF was initially known as the European Management Forum. It was rebranded as the World Economic Forum in 1987.
- Headquarters: Located in Geneva, Switzerland.
- Evolution: WEF expanded its focus from management to broader economic and social issues, especially after events like the collapse of the Bretton Woods system and the Arab-Israeli War in 1973.
Annual Meeting in Davos:
- Participants: The meeting attracts around 3,000 participants, including political leaders, business executives, investors, celebrities, and others.
- Sessions: The event features approximately 500 sessions discussing a wide range of global issues.
Reports:
- WEF is known for publishing influential reports like the Global Competitiveness Report, Global Gender Gap Report, Energy Transition Index, Global Risk Report, and Global Travel and Tourism Report.
Why in News:
- Recently, the World Economic Forum (WEF) held its Annual Meeting from 15th January to 19th January, 2024 in Davos, Switzerland.
