WEF - World Economic Forum (2024)

FAQs

What is the risk outlook for the World Economic Forum 2024? ›

Two-thirds of GRPS respondents rank Extreme weather as the top risk most likely to present a material crisis on a global scale in 2024 (Figure B), with the warming phase of the El Niño-Southern Oscillation (ENSO) cycle projected to intensify and persist until May this year.

The World Economic Forum and its annual meeting in Davos have received criticism over the years, including allegations of the organization's corporate capture of global and democratic institutions, institutional whitewashing initiatives, the public cost of security, the organization's tax-exempt status, unclear ...

Critics have said the WEF represents an attempt by international organizations to undermine national sovereignty by centralizing power and decision-making at the expense of individual freedoms and local communities.

Global recovery is steady but slow and differs by region

Global inflation is forecast to decline steadily, from 6.8 percent in 2023 to 5.9 percent in 2024 and 4.5 percent in 2025, with advanced economies returning to their inflation targets sooner than emerging market and developing economies.

Increased conflict in Africa, tensions and conflict in the Middle East and in Ukraine, medium-term climate change catastrophes, as well as calamities from inadequately controlled transformational artificial intelligence (AI) and other emerging technologies, may pose heightened risks in 2024.

The WEF has no independent decision-making power but seeks to influence people to make decisions that benefit the global community. The organization is funded through its membership, which includes many prominent business and political figures.

The World Economic Forum is the International Organization for Public-Private Cooperation. It provides a global, impartial and not-for-profit platform for meaningful connection between stakeholders to establish trust, and build initiatives for cooperation and progress.

STORY HIGHLIGHTS. According to the report, the top five imminent threats (those likely to be most severe in the next two years) are: 1) misinformation and disinformation; 2) extreme weather events; 3) societal polarization; 4) cyber insecurity; and 5) interstate armed conflict.

The Forum is chaired by Founder and Executive Chairman Professor Klaus Schwab. It's guided by a Board of Trustees, exceptional individuals who act as guardians of its mission and values, and oversee the Forum's work in promoting true global citizenship.

Who is Klaus Schwab's net worth? ›

What Is Klaus Schwab's Net Worth? Klaus Schwab is a millionaire. Although there is not an official figure out in the public about the German Economist's net worth, but multiple reports including one by Finty indicated that the estimated wealth could be between $11 Million to $25 Million or above.

Davos will probably endure, despite the evident challenges to the globalising world that made it, simply because no other prestige opportunity to convene so many powerful and interesting people from politics and commerce exists.

July 14–30 – The 2028 Summer Olympics will be held in Los Angeles, California, US. August 15–27 – The 2028 Summer Paralympics will be held in Los Angeles, California, US. November 7 – The 2028 United States presidential election will be held.

By 2030 the average person in the U.S. will have 4.5 packages a week delivered with flying drones. They will travel 40% of the time in a driverless car, use a 3D printer to print hyper-individualized meals, and will spend most of their leisure time on an activity that hasn't been invented yet.

In 2024-25, growth is set to underperform its 2010s average in nearly 60 percent of economies, comprising over 80 percent of the global population. Downside risks predominate, including geopolitical tensions, trade fragmentation, higher-for-longer interest rates, and climate-related disasters.

Economic growth is projected to slow from 3.1 percent in calendar year 2023 to 2.0 percent in 2024 amid higher unemployment and slightly lower inflation. CBO expects the Federal Reserve to respond by reducing interest rates, starting in early 2025.

The 2024 Global Risks Report highlights the challenges we face managing complex risks in a world undergoing fundamental climate, technological, geopolitical, economic, and societal transformations.

The top 10 countries in the 2024 edition are the United States, Spain, Japan, France, Australia, Germany, the United Kingdom, China, Italy and Switzerland. The results highlight that high-income economies generally continue to have more favourable conditions for travel and tourism development.