UBC January 2024 - World Economic Forum

Photo by Damian Markutt on Unsplash

These days we have a prestigious event going on in Davos, Switzerland.

Davos is located in the Grisons Alps and is a famous ski resort. Between Christmas and New Year it hosts the Spengler Cup, a tournament for six international ice hockey teams. 

So what is going on between January 16 and 19 this year?

The WEF, that's what.

The World Economic Forum (WEF) is a non-profit foundation. At this meeting, about 3,000 leading international economic experts, politicians, intellectuals and media representatives come together to discuss the world's most topical issues.

Participants will address international trade barriers, conflicts, poverty and environmental problems as well as possible solutions. 

Last year the most polarizing guest at the 2023 forum was Greta Thunberg, the Swedish climate protection activist. She traveled 65 hours by train - because she walks the walk. 

The most prominent guest is probably Ukrainian President Volodimir Zelensky, who is traveling to Switzerland for the first time since the outbreak of war in Ukraine. Israeli President Isaac Herzog is also expected to attend. 

The forum is financed by its approximately 1,000 member companies and government subsidies. To ensure security during the WEF, the Confederation can deploy up to 5,000 members of the armed forces. The army has a budget of CHF 28 million at its disposal for the event.

In addition, a further CHF 9 million will come from the federal treasury, the canton of Grisons and the municipality of Davos to cover police services and other security costs.

The basic price for a company - which specifically requires an invitation - is CHF (almost the equivalent of USD) 50k. The admission ticket per person costs a further 18k. These prices vary, depending on the article, so before you take on a second mortgage, please double check.

The Forum's mission is to "improve the state of the world".

So, with all this in mind, what do you expect of an average forum participant? I mean, what qualities will a high profile person, either from the economical or political side bring to the table?

We've discussed money, they have to afford the entrance fee. They're most probably smart and successful, right? Eloquent, multilingual, good communicators? Check!

Where am I going with this?

I'm glad you ask.

I learned about a special nugget. 

Davos usually has less than 11,000 citizens.

So if several thousand guests arrive, they need accommodation. In addition to hotels, apartments and chalets are particularly popular. Apartments with just one bed are often offered for CHF 1,500 per night on Airbnb.

There are some companies that rent apartments or in some cases entire houses in Davos and leave the majority of them empty during the year. During the WEF week, they then earn more money by renting them out than they would have been able to earn in the whole year at regular prices

With an in-house spa, fitness room, library and much more, you might think that guests have everything they need. But that is not the case. The respective delegations are looked after by butlers, chefs and other staff.

In one of these WEF chalet in Davos, two house managers, interestingly both are called  Julia, work almost around the clock. They were interviewed by the Swiss newspaper "20 Minutes". 

It is these ladies' job to read the guests' wishes from their eyes.

Cultural differences are noticeable, they say.  

"We are usually the only women in the building. Depending on the delegation, we therefore only speak to the president's employees."

What else do they observe? For example, the guests smoke in the house even though the house was marked as non-smoking. This means that the owners have to have all the wooden walls sanded down, and all carpets and sofas must be cleaned.after the WEF. Yuck. 

I promised a nugget. Wait for it:

One thing that is always needed is help with tying shoes: 

"Some people can't do it, others have grown up with someone doing it for them." 

Oh.My.Goodness.

For real???

I remember when Colin was in Kindergarten and getting ready to start first grade, one of the requirements for the kids was to be able to tie their own shoes. 

But hey, the world will be saved by entitled guys who don't bother. 

Questions..?