About 5,000 Swiss military personnel have joined the local police to secure the small Swiss town for the annual meeting of the World Economic Forum after a two-year hiatus from the epidemic, but residents and businessmen are not complaining because they are eagerly awaiting. Revenue has been lost through thousands of participants and their delegations.
The rare spring WEF annual meeting – which would otherwise have been held in January for 50 years, when this tallest city in Europe is covered in snow – is different in many other ways, however, with a sunny weather, absence of snow boots and heavy jackets and missing Russian party.
Specifically, the traditional Russia House gave way to the “Russia War Crime House” because no Russian leader or citizen was invited at this time due to the war in Ukraine.
However, across the street in close proximity, a huge Ukrainian house has been erected, and several Ukrainian leaders, including President Volodymyr Zelensky, will address this high-profile gathering of the rich and powerful around the world.
The traditional India Lounge has remained in its usual place, while there are separate pavilions set up by the governments of Telangana, Andhra Pradesh, Karnataka and Tamil Nadu, as well as several pavilions of top Indian companies like HCL and Wipro.
According to local estimates, Summit earns about 60 60 million in this small town, which is otherwise mainly dependent on ski tourism. The Swiss government has deployed its armed forces, which will last until May 30.
The Swiss government has said that the federal parliament has set an upper limit of 5,000 military members for the deployment of WEF troops in the Permanent Support Service from 20 to 30 May this year due to the postponement of the annual meeting.
The Air Force has been tasked with ensuring security in the airspace. In addition to the air policing service, it operates surveillance flights for the convenience of the canton of Grubunden and also flies persons protected by the federal government under international law.
The system includes permanent patrol by armed warplanes, ground-based air defense, additional radar, enhanced airspace surveillance and round-the-clock air police service. Restrictions have also been placed on airspace over Davos to allow only pre-authorized flights by jets and helicopters.
Organizers expect more than 2,500 people from the fields of business, politics, science and culture to travel to Davos to attend the annual meeting of the World Economic Forum. The Davos event will cover about 400 journalists reporting to local and foreign news outlets.
According to the Swiss government, the annual meeting of the World Economic Forum is one of the most important economic and socio-political events in the world, and it is very positive that it is organized to exchange views and find solutions to global problems, and continues Switzerland’s long tradition. Serve as a host country for international conferences and gatherings.
“Leading representatives from the worlds of business, politics, science and culture gathered in Davos to give Switzerland the opportunity to build relationships with many influential personalities in a special environment.
The Swiss government says “a lot of jobs in Davos depend on the economic benefits of conferences and other events, and the people of Davos have repeatedly expressed their support for holding the WEF annual meeting in a very popular vote.”
The additional cost for security at the WEF Annual Meeting 2022 is estimated at approximately 9 million CHF. The Swiss Confederation will continue its financial support for security at the WEF Annual Meeting from 2022 to 2024 in partnership with the WEF Foundation and other stakeholders.
The WEF Foundation is committed to increasing its contribution, while the Confederation will reduce its share from 3/8 to 2/8.
For example, the WEF Foundation will replace the Confederation as the largest contributor to the three-tier finance model for security spending. It is divided into financing partners as follows: WEF 3/8; Confederation: 2/8, Canton of Graubunden: 2/8; Davos: 1/8 ;. CHF will contribute 100,000 to the Davos share of the cost of closters.
The World Economic Forum is a foundation. In the fiscal year from July 2020 to June 2021, it reported a turnover of 315 million CHF and a surplus of 531,000 CHF, paid to the foundation’s capital.
According to a survey by the University of St. Gallen, the WEF annual meeting in 2017 generated an estimated turnover of about 94 million CHF in Switzerland. Of this, about 60 million CHF benefited the commune of Davos.