The World Economic Forum (WEF) is a Swiss nonprofit foundation, based in Cologny, Geneva. Recognized by the Swiss authorities
The forum was founded in 1971 by Klaus Schwab, a German-born business professor at the University of Geneva.[7] First named the "European Management Forum", it changed its name to the World Economic Forum in 1987 and sought to broaden its vision to include providing a platform for resolving international conflicts.