Davos World Economic Forum begins amid backdrop of global turmoil

The world’s political and business elite will meet in Davos, Switzerland for the 2022 World Economic Forum from May 22 through May 26. The previous event was held in 2020 before the widespread COVID-19 pandemic. This year’s event will take place amid the backdrop of economic turmoil, climate change-driven weather disasters and Russia’s invasion of Ukraine.

Video transcript

- The World Economic Forum Annual Meeting, where the brightest minds, the most powerful political figures, and global industry leaders all make the climb to Davos, Switzerland, a town nestled in the Swiss Alps, best known for its long ski trails and beautiful scenery. At an altitude of 5,118 feet, Davos is one of the highest towns in Europe. And for one week, it will also be one of the busiest. More than 2,000 attendees are expected to make the trip and take part in the forum's stacked agenda that includes discussions on climate change, economics, geopolitical frictions, and much more.

JOE BIDEN: The cost of this fight is not cheap. But caving to aggression is going to be more costly if we allow it to happen.

- It's the first in-person summit since before the COVID-19 pandemic, and it is an unusual one. Set against the backdrop of war in Europe and economic uncertainty worldwide, the World Economic Forum says Davos will be the starting point for a new era of global responsibility and cooperation.

- There is a lot of lack of trust globally. We are faced with a very polarized world. We also need countries to collaborate.

- The World Economic Forum's annual meeting is normally held in the dead of winter. But this year, spring will be in full bloom, perhaps a hopeful nod to humanity's future.