DEFINITION of 'World Economic Forum'
A discussion forum for discussing the major issues concerning the world. Some of the areas covered are political, economical, social and environmental. Parties included at the events include, but are not limited to, some of the most prominent worldly CEOs, ambassadors, public figures, media personnel, government officials, religious leaders and union representatives.
BREAKING DOWN 'World Economic Forum'
The most popular event held by the association takes place in Geneva, Switzerland. All events are funded by the member companies. Membership is considered when a company goes global and reaches $5 billion. Each member pays a membership fee and a meeting fee. While not obligated, as opinions are biased and facts are not verified, world leaders and policymakers often use the discussion notes in their plans.