World Economic Forum Notes for Exams

3 minute read
World Economic Forum Notes

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.

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

Q1. Who among the following is the founder of World Economic Forum? (2009)

(a) Klaus Schwab
(b) John Kenneth Galbraith
(c) Hobert Zoellick
(d) Paul Krugman
Ans (a)

Q2. Which of the following gives ‘Global Gender Gap Index’ ranking to the countries of the world? (2017)

(a) World Economic Forum
(b) UN Human Rights Council
(c) UN Women
(d) World Health Organization
Ans: (a)

Q3. The Global Competitiveness Report is published by the (2019)

(a) International Monetary Fund
(b) United Nations Conference on Trade and Development
(c) World Economic Forum
(d) World Bank
Ans: (c)


What is the main purpose of the World Economic Forum?

The main purpose of this forum is to bring commercial, governmental, intellectual, and other leaders of society to impact global, regional, and industry agendas.

Which country hosted the World Economic Forum 2023?

Davos takes place at Davos-Klosters the meeting of World Economic Forum 2023.

How many countries are in the WEF Davos Switzerland?

There were 2,700 leaders from 130 countries, including 52 heads of state and government, who attended the annual meeting in Davos.

We hope that you have gathered the relevant information related to the World Economic Forum. For much more content on facts like this, you can turn to our general knowledge page. Also, you can check out our blog on general knowledge for competitive exams here! Keep learning.

Leave a Reply

Required fields are marked *