"The World Economic Forum (WEF) is a Swiss non-profit foundation, based in Cologny, Geneva. It describes itself as an independent 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.
The Forum is best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland. The meeting brings together some 2,500 top business leaders, international political leaders, selected intellectuals and journalists to discuss the most pressing issues facing the world, including health and the environment.
The organisation also convenes some six to eight regional meetings each year in locations such as Latin America and East Asia, as well as undertaking two further annual meetings in China and the United Arab Emirates.
Beside meetings, the foundation produces a series of research reports and engages its members in sector specific initiatives.
The Forum was founded in 1971 by Klaus Schwab, a German-born business professor at the University of Geneva. Originally named the "European Management Forum", it changed its name to the World Economic Forum in 1987 and sought to broaden its vision further to include providing a platform for resolving international conflicts.