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50th World Economic Forum

Published on January 19, 2020
Current context: The four day 50th World Economic Forum, the International Organization for Public-Private Cooperation, will begin on 21st January 2020 at Davos in Switzerland.
50th World Economic Forum
  • The theme of WEF 2020 is 'Stakeholders for a Cohesive and Sustainable World'.
  • The theme emphasizes Forum Founder Klaus Schwab's idea that managers have a duty to customers, suppliers and the wider economy, not just dividend-hungry shareholders.
  • 53 heads of state or government from 117 countries are participating in the event.
  • Union Minister for Commerce and Industry Piyush Goyal will lead the Indian delegation at WEF 2020.
  • The key highlights of the WEF are:
    1. Indian actress Deepika Padukone will be given a WEF crystal award for her work on mental health.
    2. The US rapper William Adams will talk about ending gun violence.
    3. Piyush Goyal will hold bilateral meetings with Ministers of Australia, South Africa, Russia, Saudi Arabia, Switzerland, Korea and Singapore.
    4. He will also hold bilateral meetings with CEOs of companies, Conferences for Accelerating Investments in Indian Railways and attracting Global Institutional Investments in India.
    5. Prince Charles will also be speaking on 'saving the planet'.
  • Prof. Klaus Schwab, an engineer and economist, founded the Forum in 1971.
  • In 1970, Schwab left the Swiss industrial group Escher Wyss to organize a two-week conference in the Swiss Alps.
  • The first “European Management Forum” was held in Davos, Switzerland in February 1971.


Q.1 The World Economic Forum was founded by _______________ in the year ________?
a. Harry Dexter White , 1999
b. John Maynard Keynes, 1977
c. Prof. Klaus Schwab, 1971
d. ‎David Malpass, 1969
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