World Economic Forum 2020: Take A Glimpse Of Theme, History and Priority Areas Of WEF

World Economic Forum 2020 is being held in Davos, Switzerland from January 21-24. It is the 50th Anniversary Meeting of World Economic forum that provide a platform for CEOs and other world leaders to meet and discuss business and development of the world.

World Economic Forum is an inter-governmental organisation for public-private cooperation. This Forum bring on boards eminent political, business, cultural, and other leaders of the society to design the regional, global and industrial agenda. 

World Economic Forum Theme 2020

Theme: ‘Stakeholders for a Cohesive and Sustainable World.’

The World Economic Forum will focus on establishing stakeholders capitalism as a way of addressing World’s greatest challenges due to the societal class division generated by income inequality, political polarisation to climate change.

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History

Professor Klaus Schwab founded World Economic Forum that was originally called as the European Management Forum, that time a non-profit foundation based in Geneva, Switzerland. It attracts business leaders from Europe, and beyond, to Davos for an Annual Meeting each January.

At initial period, it was more focused on Europe, stakeholder’s management approach. After the collapse of the Bretton Woods fixed exchange rate mechanism and the Arab-Israeli War, annual meeting expanded its focus from management to economic and social issues in 1973. In January 1974, Political leaders were invited for the first time to Davos.

In 1976, the organization introduced a system of membership for ‘the 1,000 leading companies of the world’ includin China. After this, regional meetings around the globe were also added to the year’s activities. In 1979, the Global Competitiveness Report was published for the first time and this event saw the organization expansion toward becoming knowledge hub as well.

In 1987, the European Management Forum became the World Economic Forum and broaden its vision to include providing a platform for dialogue among different nation.

In 2015, World Economic Forum was recognised as the international organisation. It is now a global organisation providing platform for public-private cooperation.

World Economic Forum 2020 Focus Areas 

The 50th World Economic Forum (WEF) focuses on the following areas:

• Ecology
• Environment
• Technology
• Society
• Geopolitics
• Industry

As the climate change and natural as well as man made disaster are rapidly increasing, this year’s WEF is giving great relevance to ecology and environment.

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