THE WORLD Economic Forum (WEF) will hold its 2021 annual meeting in Singapore instead of its traditional home of Switzerland, which is battling a rising number of coronavirus infections.
The high-profile gathering, which attracts leaders across government, finance and economics, will be held in the Asian financial hub May 13-16 and return to Davos-Klosters, Switzerland, in 2022, the World Economic Forum said. The meeting will also include a virtual component to allow greater participation, according to Singapore’s Ministry of Trade and Industry.
Singapore was chosen because it has a relatively low rate of coronavirus disease 2019 (COVID-19) cases, and has recently started experimenting with modified versions of large-scale conference. Earlier this year, the WEF had said it would move the location of its 2021 meeting within Switzerland to the resort of Bürgenstock.
Switzerland is fighting a surge in infections and had about 54,000 new cases in the last two weeks, almost as many as Singapore has reported since the outbreak began.
“The Special Annual Meeting 2021 will be a place for leaders from business, government and civil society to meet in person for the first time since the start of the global pandemic,” said Klaus Schwab, founder and executive chairman of the World Economic Forum.
In years past, the WEF’s annual meeting has attracted political leaders including US President Donald Trump and German Chancellor Angela Merkel, as well as a parade of billionaires, executives and celebrities to debate global challenges. — Bloomberg