Economy3 hours ago (Jan 21, 2022 12:00PM ET)
© Bloomberg. A World Economic Forum (WEF) sign stands at the entrance to the Congress Center on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 23, 2018. World leaders, influential executives, bankers and policy makers attend the 48th annual meeting of the World Economic Forum in Davos from Jan. 23 – 26. Photographer: Jason Alden/Bloomberg
(Bloomberg) — The annual Davos gathering of political leaders, top executives and celebrities has set new dates for an in-person event, forsaking the ski season for a balmier week from May 22 to 26.
This year, the World Economic Forum had to postpone the January event with Covid cases surging. But after the Swiss government announced on Wednesday that it will ease travel restrictions for vaccinated and recovered persons from Jan. 22, the organization founded by Klaus Schwab decided the situation was promising enough to set a new date.
This optimistic step stands in stark contrast to last year, which saw the meeting at first moved to Singapore, only to be canceled entirely in May after the insecure pandemic situation made reliable planning impossible. It was replaced with the Davos Agenda 2022, a virtual meeting of world leaders and executives that ended Friday.
For Davos locals, the rescheduling is a sigh of relief. The forum is vital moneymaker for the community of around 11,000 permanent residents, with hotels and apartments fully booked months in advance.
Switzerland’s Covid-related hospitalizations have been stable despite the country trailing western European vaccination rates. Its hospital capacity has also remained manageable, prompting the government to discuss further easing restrictions on Feb. 2.
Read More: Swiss Extend Home Office Order Through February on Omicron (1)
If these trends hold up, Davos will welcome back around 3,000 participants this May, when temperatures average 12 degrees Celsius (53.6 degrees Fahrenheit).
©2022 Bloomberg L.P.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.