Is Davos elitist? ( no not at all , it cost $480000 + to attend )
Until the financial crash of 2007-08, attending Davos was considered a must for the great and good.
But critics have suggested it is a symbol of the “global elite”, some of whom are to blame for that crisis.
Last year Time magazine editor-at-large, Anand Giridharadas, described Davos as “a family reunion for the people who broke the modern world”.
Even among attendees, not everyone has the same level of access. Coloured badges determine who gets to rub shoulders with whom.
The most high-profile guests get a white badge with a hologram on it, giving them access to everywhere. At the other end of the scale a “hotel” badge means you can’t get into the conference centre at all.
It is also male-dominated, with the term “Davos Man” becoming a nickname for the type of wealthy, elite male who typically goes. Last year 22% of all Davos participants were women, up from 17% 2015.
The conference’s swanky location, the private helicopters flying in and out and the array of lavish parties can add to claims the event is exclusive.
But WEF argues it is simply interested in bringing leaders together for the greater good.
And Martin Wolf, the Financial Times’ chief economics commentator, says: “Elites are always a bit out of touch – that’s their nature – but it is impossible to have a world without them. It is also vital that these people meet regularly and find out what each other is thinking.”
