State of the World: World Economic Forum starts on January 17 in Davos

The year 2020 brought unimaginable changes to the world. With the outbreak of Covid-19 pandemic, there have been enormous shifts in our everyday life, traditions and many other aspects. World Economic Forum (WEF), located in Davos, Switzerland, also got hit during this pandemic.

For the past two years, World Economic Forum was held primarily online. This year’s forum had some hopes of achieving the long awaited goal, a live meeting in the city of Davos. However, this will not be the case. Since the pandemic situation around Europe got drastic, WEF needed to be arranged in some different form. So the local administration, with the mayor of Davos Philipp Wilhelm and the Swiss government decided to hold the event online from 17th up until 21st of January.

WEF will represent a global platform for world leaders to share and discuss their plans for 2022, with the main theme: State of the World. Politicians, high-ranking government officials, but also CEOs from international organizations will have the opportunity to help with shaping the solutions of 2022 challenges and issues. 

Founder and Executive Chairman of WEF Klaus Schwab stated: “Major global challenges await us, ranging from climate change to rebuilding trust and social cohesion after Covid-19 pandemic”.

WEF’s main topics will be divided in several spheres.

Firstly, there will be two sessions held regarding the Covid-19 situation, one on the opening day called “Covid-19 – What is next?” and the second one which will focus on the vaccine equity challenge. 

This topic has greatly affected the city of Davos itself lately. Since the pandemic situation got worse so quickly, all new infrastructure projects in the city had to be stalled. The biggest project that will now have to wait until next year is a new parking guidance system, specially implemented for the purposes of WEF. 

Many people at a young age experience different views on the world, and they support different and sometimes extreme ideas. Few years ago, young Philipp Wilhelm was at the front lines of the protests against the World Economic Forum being held in Davos. Today, he is one of its prime supporters, since he came to realize the importance of WEF to his city, as well as the revenue that it generates.

Having in mind cities’ benefits from development of infrastructure and technology, the second type of sessions at WEF will discuss different changes in technology and science. These talks include panels “Technology Cooperation in the Fourth Industrial Revolution” and “Navigating the Energy Transition”.

Discussions related to climate change are inevitable, since this is one of the constant problems that plague modern society. Therefore, esteemed experts will discuss innovations and metrics related to the sustainable future. 

As social aspects really affect the economy in different ways, there will be two sessions held in regards to this sphere. First one will be held on the second day, named “Renewing Global Social Contract”. This one is closely related to those that revolve around Covid-19, since problems focused in session were directly or indirectly caused by the pandemic. Alongside this one, there will be a session that is entirely opposite of the first one, in the sense that its primary goal is to prepare society and its leaders for similar endeavors. This session will be called “Building Future Preparedness”, which will be held on the last day of the WEF.

“Global Economic Outlook” is certainly a session which will revolve strictly around economic predictions for the future of the world, while “Live from Space: The Next Frontier for Knowledge and Action” will discuss the advancement of technology in the last decade which enabled us to perform feats unimaginable by our ancestors. 

After the forum, WEF will traditionally publish the Global Competitiveness Report 2021-2022. The aim of this report is to summarize the talks and discussions held during the World Economic Forum, which will contribute to shaping global economic policies. 

The whole WEF agenda is available on this link