S8 Ep46: Is Davos more than a boondoggle?

The annual meeting of the World Economic Forum, in Davos, attended by thousands of business and policy VIPs – is one of those events that pops up on the news every year, as we see photos of multinational CEOs shaking hands with world leaders and taking part in panel discussions on the future of the planet. But how valuable is it to the business people who pay hundreds of thousands of Swiss Francs to attend? Does Davos create business value, or might it be a high-profile way for them to ski and party – in the words of a new discussion paper published by CEPR, is it any more than “a boondoggle”?Andreas Fuchs of University of Goettingen is one of the researchers who asked this question. He reveals to Tim Phillips the size of the impact on stock prices and credit ratings.Photo: WEF/swiss-image.ch/Michael Buholzer