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Preview of the World Economic Forum Annual Meeting on January 15, 2024 in Davos, Switzerland.
Adam Galich | CNBC
LONDON — It’s that time of year when great minds gather in Davos, Switzerland, for the annual World Economic Forum.
Many heads of state, politicians and business tycoons will attend the four-day event at the Alpine resort, but more telling is which leaders will shy away from the forum.
While Donald Trump, who was inaugurated as US President on Monday, is expected to address the forum via live video link on Thursday, some key leaders will miss the event entirely.
These include Indian Prime Minister Narendra Modi and Chinese President Xi Jinping, as well as French President Emmanuel Macron, Italian leader Giorgio Meloni and British Prime Minister Keir Starmer.
The only head of state among the Group of Seven (G7) industrialized nations that includes the United States, Europe’s largest economies, Canada and Japan to attend the summit in person is outgoing German Chancellor Olaf Scholz.
The World Economic Forum said this year’s 55th annual forum, which will take place from Monday to Thursday and will bring together nearly 3,000 leaders from more than 130 countries, said the gathering “demonstrates the urgent need for dialogue in an era of increasing uncertainty.” “. The report states that 350 government leaders, including 60 heads of state and government, “will gather in Davos-Klosters to address pressing challenges and create new opportunities.”
On January 26, 2018, US President Donald Trump delivered a speech at the Davos Convention Center (C), the venue for the annual World Economic Forum (WEF) in the town of Davos, eastern Switzerland, People pass by the big screen. / AFP Photo/ Miguel Medina (Photo credit should read MIGUEL MEDINA/AFP via Getty Images)
Miguel Medina | AFP | Getty Images
The theme of the event is “Collaboration in the Smart Age” and the agenda focuses on five key areas: reimagining growth, industries in the smart age, investing in talent, and maintaining and rebuilding trust.
However, not all world leaders will be present to discuss these issues.
“The leaders of Brazil, China and India who gave keynote speeches 10 years ago are no longer here. Russia has been unpopular for several years and Keir Starmer will not be there. Macron will not be there.” Leighton Jan Aart Scholte, professor of global transformation and governance challenges at the university, told CNBC on Thursday.
“It’s true that the Prime Minister of Spain will be attending, and a couple of others, but the general picture of the heads of state and government who are here is that it’s not the big names. I think if you’ve experienced being on the G20 list, (the ones attending) will be A small number of people,” he said.
Official reasons for absences from the World Economic Forum are often not given, but pressing domestic issues – from slowing economic growth to political crises – are known to keep heads of government at home.
On Tuesday, January 17, 2017, Chinese President Xi Jinping delivered a speech at the opening plenary session of the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland.
Jason Alden | Bloomberg | Getty Images
In recent years there have also been some ambivalence about attending an event that has been accused of being elitist and out of touch with reality.
CNBC has reached out to the World Economic Forum for comment. The forum has repeatedly stated that it provides a space for stakeholders from business, government, academia, civil society, media and the arts to “meet on a global, impartial, not-for-profit platform.”
The report says these people “come together to find common ground, seize opportunities, and effect positive change on major global issues.”
who will be there
Many big names will still be attending this year’s summit – an event that began in 1971 and was hosted by Klaus Schwab, who served as its executive chairman until early this year.
Chinese Vice Premier Ding Xuexiang, Ukrainian President Zelensky, Argentinian Prime Minister Javier Mire and South African President Cyril Ramaphosa will deliver speeches in Davos this week.
European Commission President Ursula von der Leyen will also attend, as well as leaders of global organizations including the International Monetary Fund, the United Nations, the World Health Organization and the World Trade Organization.
Ursula von der Leyen reacts after being elected for a second term as President of the European Commission at the European Parliament in Strasbourg, France, on July 18, 2024.
Johanna Geron | Reuters
Sven Smit, a senior partner at McKinsey & Company, a strategic partner of the World Economic Forum, said in online comments that the first priority for attendees was to “understand the thinking of leaders in Davos.”
“You can’t completely predict it, there are themes that people have brought up, from growth to sustainability, but as a distillation of Davos themes it’s not entirely predictable, and that’s the interesting part,” Smit said.
In recent years, however, many participating Western institutions have found themselves on the wrong side of opposition to globalization from populist leaders such as Trump and countries such as Russia and China.
Short noted that the World Economic Forum has also run afoul of this anti-establishment trend, and while the presence of a leader like Trump may not have been sought in the past, there is now an acknowledgment that the world has changed.
“I don’t think the promoters of a free, open world economy will speak with such disdain when it comes to opposing forces and perspectives as they did before the global financial crisis,” he said.
“I think being humble, no, sometimes doesn’t quite cut it. And no, we don’t always fully consider those who feel left out.”
Nonetheless, he stressed that the World Economic Forum remains attractive to many business and political leaders.
“There are multiple signs that sites like the World Economic Forum don’t have the strong appeal they did a few decades ago,” Short said. “But the idea that it’s no longer attractive, and that there aren’t certain areas in world economic governance where it can still be very powerful, I think is wrong.”
