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World Economic Forum Notes: The World Economic Forum (WEF) comprises different individuals who are committed to improving the state of the world. The forum includes influential CEOs, diplomats, celebrities, media figures, government officials, religious leaders, and union representatives from various corners of the globe. To know about its history, key points, meetings, and more, refer to this blog till the end.
Table of Contents
Why is the Davos Summit 2023 is in the News?
- Recently, the 53rd edition of the annual World Economic Forum summit was held in Davos, Switzerland, and was the largest in history.
- It has been decided that some of the major topics, like the economies of the US, the European Union (EU), and China are going beyond the risk of a recession now.
- Ukraine raised its demand for more military funding to fight the war against Russia and some additional funds to rebuild after the war.
- WEF is supported by more than 45 partners who launched the Giving to Amplify Earth Action (GAEA).
Also Read: Discover the Most Powerful Organisations in the World
About World Economic Forum and Its Initiatives
The World Economic Forum is an international organisation that brings together leaders from different sectors to discuss and address the country’s important global issues of the country. It serves as a platform for influential people to collaborate and find solutions to such arising issues.
Agenda of World Economic Forum
Its agenda is to improve the status of the world by bringing commercial, governmental, intellectual, and other leaders of society to impact global, regional, and industry agendas.
History of World Economic Forum
- It was founded by Klaus Schwab in 1971. Later, the organisation changed its name to the World Economic Forum in 1987, and its vision is to provide a platform to resolve international conflicts.
- In 1971, Klaus Schwab extended an invitation to 444 executives from Western European firms to attend the first European Management Symposium.
- The First time, it took place at the Davos Congress Centre.
- This annual meeting provided a platform for the political leaders to show and promote their interests.
Meetings of World Economic Forum
Every January, Davos conducts the annual meeting of the World Economic Forum (WEF). Recently, it conducted its 53rd edition of the annual World Economic Forum, which happened to be the largest summit of the year.
Also Read: International Monetary Fund (IMF)
Previous Year Questions (PYQs) of UPSC Civil Services Exam
(a) Klaus Schwab
(b) John Kenneth Galbraith
(c) Hobert Zoellick
(d) Paul Krugman
Ans (a)
(a) World Economic Forum
(b) UN Human Rights Council
(c) UN Women
(d) World Health Organization
Ans: (a)
(a) International Monetary Fund
(b) United Nations Conference on Trade and Development
(c) World Economic Forum
(d) World Bank
Ans: (c)
FAQ
The main purpose of this forum is to bring commercial, governmental, intellectual, and other leaders of society to impact global, regional, and industry agendas.
Davos takes place at Davos-Klosters the meeting of World Economic Forum 2023.
There were 2,700 leaders from 130 countries, including 52 heads of state and government, who attended the annual meeting in Davos.
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