WEF Full Form

WEF Full Form: What Does WEF Stand For?

Do you want to know what is full form of WEF is? Then, here you will come to know what Does WEF stand for? Also all possible Full Form of WEF.

WEF Full Form

The term WEF has many full forms, but out of which most relevant full form is-

WEF Full Form is – World Economic Forum

The World Economic Forum (WEF) is a non-profit foundation headquartered in Geneva established as a private international initiative in 1971.

According to the latest WEF financial report, it has partners and members who form the organization’s budget: at the moment, it is more than 300 million Swiss francs.

The central annual meeting of participants, partners and guests of the Forum takes place in January each year in the mountain resort of Davos in eastern Switzerland (canton of Graubunden). In 2020, the 50th session was held from January 21 to 24.

Who are the partners and participants of the WEF?

The core partners include a select group of about 100 large multinationals, such as ABB, Nestl, Barclays, Credit Suisse, Deloitte, Deutsche Bank and Google. They shape the plan and provide the bulk of the funding. In total, they contribute more than 240 million Swiss francs to the WEF’s annual budget alone.

According to WEF, about 1,200 companies, including about 1,000 of the world’s largest companies, pay a total of more than 27 million Swiss francs for their annual membership.

How much does it cost to participate in the Davos Forum?

The WEF is financed by business leaders, whose companies make up a budget of approximately 5 million Swiss francs. Their contributions range from 60,000 to 600,000 Swiss francs per year.

WEF Full Form in Tax

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What Does WEF Stand For?

WEF stands for – World Economic Forum

The World Economic Forum (WEF) is a non-governmental body based in Davos, Switzerland.

The Forum’s members are about 1000 large companies and organizations from more than 50 countries. About 20 are business structures from Russia (the WEF annually based on the criteria of “financial position, quality of management and reputation” revising forum participants).

Since the founding of the Forum, its permanent president has been Professor Klaus Schwab. The Permanent Executive Body is the Board of Directors.

The Forum has established and operates many groups or professional interest clubs, including a club of significant entrepreneurs, a group of executives of companies and organizations of various industry sectors, a group of heads of national research organizations, a group of outstanding artists. In recent years, the associations “Leaders of Tomorrow” and “High Technology Pioneers” have been formed.

The WEF budget is based on annual membership fees and contributions from WEF participants.

WEF is headquartered in Geneva, Switzerland.

The goals are to help the world community address economic development issues and expand international trade and economic cooperation.

Forms of activity:

Meetings, conferences, symposiums with forum members and invited guests from politicians, business people, scientists and journalists are organized. The final documents are not accepted. The tested form of work is “round tables” with the participation of several “stars” or “brain attacks,” providing for an informal exchange of views on the most pressing issues in groups of 10-15 people.

The WEF events are divided into:

1. The annual meetings in Davos (usually in late January to early February, lasting up to 6 days) are the main event at which WEF members discuss critical issues of the world economy. They include “mini-summits” with government officials, as well as seminars aimed mainly at business contacts with official delegations and individual politicians. The WEF’s high rating encourages its organizers to tighten the criteria for selecting invitees year after year, which gives the meetings in Davos a distinct elitist character. For business people, membership in the WEF is a prerequisite for participation.

2. National (country) meetings, two-day seminars and symposiums with representatives of business and members of the government.

3. Informal meetings of representatives of governments and leading companies representing individual industries (industrial summits).

What Does WEF Stand For in Business?

In Business WEF Stand For – With Effect From

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What is Full Forms of WEF

Now, here is the complete Full-Form list of the term WEF.

Final Words:

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