Ten things you didn't know about Davos, which begins on May 22

This annual jamboree is officially a conference on themes, which are seamless – from speeches on global economic outlook to ways and means of managing modern stressful life by people who matter.

But speeches aren’t all; networking is a bigger attraction. Being in a relatively tiny place, amidst sylvan surroundings, snow, and the calm of Switzerland, makes the atmosphere amenable for corporate bosses, politicians, and journalists to schmooze for four days. The networking ends at late-night cocktails hosted by companies – which are well attended.

NOT MERELY A TALKING SHOP

Forum founder Klaus Schwab started the annual get together in 1971 to discuss global management practices. Now WEF has a much broader agenda, but critics insist that it is just a talking shop. The isolation of Davos, however, offers politicians a valuable chance to meet away from the public glare.

North and South Korea held their first ministerial level meetings in Davos in 1989 – no mean feat.

Also Read | 2022 Davos World Economic Forum: Moneycontrol hits ground zero to bring you the best

COMPANY BANKROLLS

Not surprisingly, it is only the companies who pay for attending – all other invitees are on the house. The charge for companies is 27,000 Swiss francs per person. In addition, they must also be members of the WEF. There are open class divisions: Starting at 60,000 Swiss francs per year to a whopping 600,000 Swiss francs to be a so-called "strategic partner".

CASTE SYSTEM

Improving inequality is a big talking point at Davos, but that’s what it is – a talking point. WEF operates its own unequal system determined by a complicated caste system of coloured badges. You could be in the same place as a President, Prime Minister, or a Prince, but that’s hardly a guarantee that you will run into them in the lobby! High-profile visitors get a white badge with a hologram on it, giving them access to everywhere – literally. There are different coloured badges for various participants.

BOYS’ CLUB

In the 50-plus years since Davos started hosting its annual meetings, it’s mostly been a Boys’ Club, despite a quota system for large firms who must bring one woman for every four men. With each passing year, the number of women is growing, but it is a long road ahead.

OLD IS GOLD

The backdrop is idyllic, but if anyone took it to be a youngsters’ paradise, take another look! Apparently, it takes time to get there: the average age for men is 54 and 49 for women.

COMPLICATED JARGON

WEF is a place for complicated corporate jargon and the theme of each year's conference is often incomprehensible. This year, it will be "Working Together, Restoring Trust", which is presumably set against the terrible war raging in Europe and a nearly three-year-old pandemic.

HIGH PROFILERS

Attendees at the summit include the world’s Who Who, headed by prime minister Narendra Modi, Kishida Fumio, Prime Minister of Japan, António Guterres, Secretary-General, United Nations, Ursula von der Leyen, President of the European Commission, and President Xi Jinping of China, among other global dignitaries.

Security is tight. There are snipers on every roof and every time a member enters the main conference centre, they must remove their coat, scan their laptop, and bags.

GET A HAT

The attendees may be billionaire heads of state and CEOs, but the lure of a free bobble hat is irresistible.

Every year Zurich Insurance provides bright blue knitted hats to attendees. It’s a sign of recognition for those wearing a similar hat, who may chance seeing each other outside WEF and recognise their exclusivity.