What Is History of World Economic Forum?

The World Economic Forum (WEF) is a non-profit organization that was established in 1971. The organization’s headquarters are located in Geneva, Switzerland. The WEF is committed to improving the state of the world by bringing together leaders from various sectors and industries to address global challenges.

The History of the World Economic Forum

The World Economic Forum was founded by Klaus Schwab, a German economist, in 1971. At that time, it was called the European Management Symposium and was held in Davos, Switzerland. The objective of the symposium was to bring together European business leaders to discuss current economic challenges.

Over time, the symposium grew in popularity and began to attract participants from other regions of the world. In 1987, it was renamed the World Economic Forum and became an annual event that brought together political leaders, business executives, intellectuals, and social activists.

The Purpose of the World Economic Forum

The purpose of the World Economic Forum is to provide a platform for leaders from various sectors to discuss global issues and find solutions to them. The organization believes that cooperation among different stakeholders is essential for addressing complex global challenges such as poverty, inequality, climate change, and terrorism.

Annual Meeting

The annual meeting of the World Economic Forum is held every year in Davos-Klosters, Switzerland. More than 2,500 participants attend this meeting from over 100 countries. The participants come from various backgrounds including political leaders, CEOs of global companies, academics, journalists and civil society representatives.

During this meeting, participants engage in discussions on a wide range of topics such as economic growth and development, human rights and social justice issues. They also work on identifying solutions for pressing global challenges.

Regional Meetings

Apart from its annual meeting in Davos-Klosters Switzerland which attracts international attendees; the WEF also organizes regional meetings which focus on issues specific to a particular region. These meetings are held in various regions around the world including Africa, Asia, and Latin America.


The World Economic Forum has played a significant role in shaping global economic policy over the past few decades. Through its annual meeting and other initiatives, the organization has brought together leaders from different sectors to discuss global challenges and find solutions to them. The WEF’s commitment to cooperation and collaboration has made it a valuable platform for promoting positive change in the world.