Davos – more than just an economics conference?

Earlier this year 2,000 of the world’s richest and most powerful people descended on Davos for the 41st annual meeting of the World Economic Forum. More than twelve hundred senior executives from 69 countries rubbed shoulders with leading politicians including David Cameron, Angela Merkel and Nicolas Sarkozy, as well as Bill and Melinda Gates, Google co-founder Larry Page, steel magnate Lakshmi Mittal and even the odd celebrity. But despite the high profile attendees, you could be forgiven for asking just what the point of Davos is.

The media coverage of Davos starts weeks before the conference begins, as companies and spokespeople talk about what they expect to see on the Davos agenda and potential outcomes of the event. The conference is probably the biggest platform in the world for commentary on global trends and development of new ideas, and the discussions start early. Indeed, this advance coverage is arguably more insightful and effective than anything that comes out of the conference itself: for all the hype, Davos produces very little in concrete terms. Despite the most powerful politicians and business leaders in the world gathering together, there are almost never any major policy decisions or product launches made at the conference itself.

However, that is not to say that the conference is not a worthwhile endeavour or an important meeting on the global calendar. One of the most important aspects of Davos is the networking opportunities it affords, and one can only guess at the number of business deals governments and companies agree in the mountain air. But the event also provides a unique opportunity for smaller organisations to draw attention to important issues. By lobbying key figures who will be attending and offering journalists insightful and timely commentary on global topics, firms can ensure that the world’s leaders are aware of and discussing the subjects that are important to them.

Davos also provides an opportunity for organisations to be creative in approaching key influencers in their fields. Hosting parties, running workshops or organising unusual events can provide otherwise almost impossible access to the world’s most powerful people. For instance, for the past few years Crossroads Global Village, which works to support welfare organisations around the world, has partnered with UNHCR, the United Nations’ refugee agency, and Global Risk Forum to host Refugee Run. Through this simulation event, world leaders such as Virgin boss Sir Richard Branson, Wikipedia founder Jimmy Wales and UN Secretary General Ban Ki Moon have experienced life as a refugee.

Likewise, Davos can provide a unique platform for leaders to change the world for the better. For instance, former Turkish Prime Minister Turgut Ozal claims that his country did not go to war with Greece when tensions between the two countries escalated in 1987 because he had met his Greek counterpart Andreas Papandreou at Davos the year before and knew he could trust him. More recently, rock star Bono and billionaire couple Bill and Melinda Gates used this year’s meeting to secure millions of pounds of investment for polio vaccinations.

Critics still argue that despite all the publicity and media coverage, Davos achieves very little in terms of solving the world’s problems. But as BBC Business Editor Tim Weber points out “that’s not what it’s been designed for. The event is a talking shop, a networking event – but one that can set the agenda, generate new ideas, build bridges.” By having the kinds of discussions that are possible at Davos, global leaders can be inspired to act differently and maybe, just maybe, transform the world in the process.

Jo Nussbaum, Linstock Consultant (jo@linstockcommunications.com)

http://www.linstockcommunications.com/