What Davos is all about

The World Economic Forum (WEF) annual meeting in Davos, Switzerland, appears to be adhering to its mission after it came into being in 1971.

To attest to its vitality and relevancy, heads of state, business tycoons, CEOs of major companies, heads of international organisations and representatives of major television and news networks, among others, make it a point to make a pilgrimage to the Swiss town, nestled between Swiss mountains, once a year to brainstorm on solutions to international and regional conflicts and situations, and help shape and foster a global public-private cooperation on them.

Davos has slowly, but surely, become synonymous with a candid and informal exchange of views on major economic, political and fiscal bottlenecks in the international and regional arenas. To be sure, Davos has become the international retreat where participants feel at ease and relaxed, due in no small part to the tranquil atmosphere in the Swiss Alps, to come up with solutions to existing threats to globalisation.

Davos has, therefore, become a mecca for world leaders to stop the tide against globalisation, especially in the areas of global warming, poverty, unemployment and the eradication of diseases.

The attendance sheet at the head of state level is not always impressive or what the organisers of the event would have hoped for, as this year's gathering has missed the presence of French President Emmanuel Macron, US President Donald Trump, Russian President Vladimir Putin, Chinese President Xi Jinping and British Prime Minister Theresa May, to name but a few absentees. Participation of the Arab world at the head of state level is seldom impressive, as most of them opt to send high-level delegations instead.

What could be missing in this annual exercise is the absence of workers' representatives. As the forum endeavours, among other things, to promote a fair and equitable compact between workers and employers, the absence of workers' representatives is a big loss for the forum. Otherwise, the world continues to be enriched by holding the WEF in Davos every year without interruption.