Davos Organizer WEF to Up Price to $627,000 for Top FirmsJennifer Ryan and Alessandro Speciale
The World Economic Forum, which runs the yearly gathering of political and business leaders in Davos, Switzerland, told its top members it will increase its annual price to 600,000 Swiss francs ($627,000).
The WEF will implement the rise in membership fees in July 2015 for its so-called Strategic Partners, which it describes as a group of 100 leading global companies, WEF board member Jim Hagemann Snabe wrote in a letter, a copy of which was obtained by Bloomberg News. That would entail an increase of 20 percent from 500,000 Swiss francs, according to the Financial Times, which reported the change earlier today.
The increase is the first since 2005 and represents an compound annual gain of 1.8 percent, Snabe, former co-Chief Executive Officer of SAP SE, wrote. The details of the changes, which the WEF said reflects “a simplification and the additional value and benefits that our Partners have been looking for,” will be discussed at a meeting in Geneva on Oct. 15-16.
A representative for the WEF confirmed the existence of the letter but declined to comment on its content or provide the text.