WEF gathers some of the world's most influential leaders and investors

President Jair Bolsonaro arrived in Switzerland on Monday (January 21st) for the traditional World Economic Forum. The forum will be the new administration's first international engagement and an important opportunity to showcase the new government Brazilians have chosen. Bringing together leaders from more than 100 countries and executives from a thousand of the world's largest companies to converge on economic agendas and discuss global priorities, the meeting has maintained its influence over 48 years, with particular relevance since the year 2000.

Major challenges at the heart of a dynamic global economy, such as industry 4.0, digital services and commerce, the changes digital industry has caused in the labor market and social protection measures are among the topics that will be discussed in the 2019 edition.

Relevance

Economist Carlos Eduardo de Freitas, former governor of the Brazilian Central Bank, highlighted the importance of the forum's debates in relation to meetings of other organizations, especially for emerging economies such as Brazil. "The forum today is the most important annual meeting from an economic and political point of view," he said.

The economist sees Davos as more open to emerging countries and economies now. One of the factors that helps this democratization is the fact that there is no sponsorship from developed countries governments or creditors. "This importance comes from the beginning of the 21st century, and I think that it is due to Davos incorporating political and social issues, as well as incorporating emerging economies," he said.

Opportunities

As it attracts many countries, authorities and entrepreneurs, the World Economic Forum can also represent a good opportunity for Heads of State to present their countries before investors and gain the confidence of international actors.

For the new Brazilian government, it may be a "golden opportunity," said Roberto Ellery, an economics professor at the University of Brasília (UnB). "It's a golden opportunity. It is a fantastic showcase, an opportunity to know who Bolsonaro is,” he points out.

Tradition

With the current edition, which takes place between February 22 and 25, the World Economic Forum reaches 48 years of existence. Created by economist

Klaus Schwab, the event originally aimed to bring together business and government leaders and officials from all over Europe to discuss the dynamics of the economy.

As it gained momentum over the years, the forum became an increasingly important venue for global discussions. For instance, major milestones such as the reunification of Germany in 1989 and meetings between North and South Korea leaders came to fruition during Davos meetings.