Davos Switzerland 2018: What’s on the agenda as the World Economic Forum gets under way

More than 3,000 of the most influential political and economic leaders – as well as a smattering of celebrities – will descend on the Swiss ski resort of Davos this week for the annual gathering of the world’s most powerful figures.

The World Economic Forum, which begins on Tuesday, has brought together elites from across the globe since it began as a small huddle in the 1970s.

This year, more than 900 chief executives and 70 world leaders will attend with US President Donald Trump expected to attract the most attention when he flies in from Washington.

That said, he may face competition for the spotlight from celebrities including actor Cate Blanchett, musician Will.i.am, and Sir Elton John.

The theme of 2018’s summit, “Creating a shared future in a fractured world”, points to a focus on making globalisation work for those who feel they are being left behind by the current system. The choice of theme comes off the back of the election of Mr Trump, Brexit, and the rise of the far-right in parts of Europe.

So, what should we be looking out for at this year’s summit?

Political heavyweights jet in

Last year, all eyes were on Chinese President Xi Jinping as he set out his vision of a more global, outward looking future for his country. But despite being expected to send a large delegation, Xi himself will not be attending this year.

Instead, the focus will be on the likes of French President Emmanuel Macron and Indian Prime Minister Narendra Modi.

Other key figures attending include Prime Minister Theresa May, European Commission President Jean-Claude Juncker, German Chancellor Angela Merkel and Canadian PM Justin Trudeau.

… And how will Trump be received?

One leader is a safe bet to attract more attention than any other.

US President Donald Trump is expected to fly in and speak at the end of the week as his country’s government reopened after a deal was reached to end its shutdown.

But the audience he will be addressing will be filled with precisely the kind of elites he railed against so angrily during his campaign for the presidency.

Even so, the White House has briefed that he will double down on his ‘America First’ vision, defined by economic protectionism and a rejection of multilateral agreements and deals which he has complained place the US at a competitive disadvantage.

How that message will be received by an audience filled with the world’s elites will be worth watching out for.

Cryptocurrencies

Last year, cryptocurrencies entered the mainstream.

And one of the themes of this year’s conference will be whether the emergence of these volatile digital currencies signal a paradigm shift in the future of money – or whether they are a flash in the pan which are the preserve of amateurs and crooks.

There will also be a focus on blockchain technology which underpins cryptocurrencies such as Bitcoin and records transactions.

Gender inequality and #MeToo

Sexual harassment and the #MeToo movement, which started in Hollywood but spread like wildfire throughout other industries and across society as a whole, are also a likely theme.

Politics and the financial services industry have not escaped the sexual harassment scandal remotely unscathed.

The guest list at Davos is traditionally overwhelmingly male, but the WEF is taking steps to try to change that. For the first time in its 48-year history, all seven of the conference’s co-chairs are female.

That said, only 21 per cent of the attendees are female and the gender pay gap at many of the firms represented remain firmly in place.

The economic recovery and who benefits

As the theme of the conference suggests, making the current global economic recovery work for everyone is, in theory at least, one of the primary concerns at this year’s Davos.

One of the standout events is due to take place on Thursday, when IMF managing director Christine Lagarde, US Chancellor Philip Hammond and US Treasury Secretary Steven Mnuchin are due to appear at a panel discussion on the remaking of global finance.

With the headlines likely to be dominated by Mr Trump’s protectionist agenda, aimed squarely at the voters who swept him to victory in 2016, expect evidence of an appetite for a broader message from the conference on how more people can reap the rewards of globalisation.