The annual World Economic Forum, informally known as Davos for the Swiss ski town the summit has been held in, will temporarily take place in Singapore next year due to the coronavirus pandemic.
The annual January meeting of movers and shakers in the global economy will be held next year in May in Singapore, the World Economic Forum announced Monday.
The event, called by organizers “the first global leadership event to address worldwide recovery from the pandemic,” will be held in-person.
The announcement comes after the summit had already been rescheduled to early summer in Lucerne.
Switzerland, like many other European countries, is battling a second wave of the pandemic, with thousands of new cases a day, while Singapore is only recording single-digit numbers of new infections most days.
For the week in January that Davos was supposed to be held, the forum will instead host virtual events.
Organizers said they plan to return to Davos-Klosters for the annual meeting in 2022.
The World Economic Forum has been held in Davos-Klosters for more than 50 years, serving as a meeting place for the world’s most powerful people to discuss global issues. Notable attendees at last year’s summit included U.S. President Donald Trump, billionaire investor George Soros and teenage climate activist Greta Thunberg. Singapore has been praised for its zealous testing and contact tracing to contain the pandemic. Reuters reported in September the Asian city-state had the lowest death rate from coronavirus in the world.