The World Economic Forum (WEF) is an international organization committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas. It was founded in 1971 by Klaus Schwab, a German economist, as a not-for-profit foundation and is headquartered in Geneva, Switzerland.
The WEF hosts an annual meeting in Davos, Switzerland, which brings together top business leaders, international political leaders, economists, celebrities, and journalists to discuss the most pressing issues facing the world. The meeting is often referred to as the “Davos summit.”
In addition to its annual meeting, the WEF also organizes other events throughout the year and works on a variety of initiatives and projects focused on issues such as global economic development, international trade, and environmental sustainability.
The WEF has a diverse membership base, including more than 3,000 member companies from over 117 countries, as well as other organizations such as NGOs, foundations, and academic institutions. It is funded through member contributions, sponsorships, and revenue generated from its events.
