World Economic Forum Definition
The World Economic Forum (WEF) is a Geneva-based foundation whose Annual Meeting of chief executives of the world's richest corporations, some national political leaders (presidents, prime ministers and others), and selected intellectuals and journalists, about 2000 people in all, is usually held in Davos, Switzerland. There are also regional meetings throughout the year. It was founded in 1971 by Klaus M. Schwab, a business professor in Switzerland, and has helped fund his family foundation, the Schwab Foundation for Social Entrepreneurship.