World Economic Forum cancels 2021 annual meeting

No Davos in Asia this year. After twice postponing its summit of world leaders in Singapore, the World Economic Forum cancelled its 2021 annual meeting altogether on Monday.

The Swiss-based organization blamed the cancellation on the pandemic, pointing to the uncertain travel outlook, the varying speeds of vaccination rollout, and what it called “tragic circumstances unfolding across geographies.”

Every year, a who's who of the global elite - government leaders, CEOs, celebrities and the heads of civil society converge in the Swiss Alps to discuss economic, environmental, social and technological issues.

The pandemic situation in Europe had forced it to move the summit from its usual home in the picturesque wintry Swiss town of Davos to sultry Singapore. The WEF’s big meeting was originally scheduled for mid-May in Singapore but pushed back to August.

The Asian financial capital has in recent days imposed some of the tightest restrictions since it exited a lockdown last year.

The next summit will instead take place in the first half of next year. It was due to return to Davos next January. But the organization said on Monday an assessment of the situation later this summer will determine its location and date.

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