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When a simple tonic water costs less than 10 cents, you know the world’s economic elite are coming to town. For small business owners living in the Swiss resort town of Davos, the arrival of the World Economic Forum and its associates is money making ringing. It acts as a lubricant for the Swiss economy, keeping the safe haven of the Swiss franc very strong.
Hordes of carpenters and painters are hired to transform many of the town’s boutiques into elaborate global fairs. Far enough away from very expensive restaurants.
At my traditional Alpine hotel, the menu was quietly updated with fresh inserts the day before the conference began, revealing a dramatic increase in already hefty prices. I ordered soup regularly.
Store owners will be offered eye-popping sums for evictions, locks, inventory, and barrels to make way for global brands setting up stores for the five-day event.Uber from DP Until Worlds, Main Street is a familiar wall of logos, with Manchester United at the top.
The WEF speaks lofty about finding solutions to some of the world’s biggest problems, from climate change to the cost of living crisis, but for many attendees Davos is just a massive networking event.
Keeping all channels of communication open between world leaders and corporate bosses is clearly crucial in times of war and geopolitical fragmentation. While we don’t expect much concrete action from the jet set we’re in, there’s a great chance we’ll get caught around the forums.
January’s Davos meeting is like a global dragon’s den, with startups desperately looking for new partners and funding rounds to grow their sapling ideas. The pavement may be frozen, but the streets are still paved with gold-plated opportunities.
The potential prize money could be much bigger than getting a piece of the investment from Peter Jones or Deborah Meaden. lining up and clinging to the dream of jumping in as an angel investor. The era of super-cheap money may have come to an abrupt end, but there’s still plenty of capital fluttering the streets of Davos, with investors looking for the next innovation.
That’s why these founders and business owners try to attend every event they can and generate interest. From a Colombian educator to a hologram tutor transforming classrooms in the developing world, a supply chain innovator using blockchain to improve transparency, and a former college baseball player to expand a successful coffee shop chain. , helping and encouraging poor students to ensure their reach. Graduated from university.
While they’re often found staying in cheaper lodgings down the mountain, these entrepreneurs braved the high prices, sipped water, nibbled on sandwiches, and paid homage to the ultra-rich. We are looking for a chance to meet the perfect match among the suitors of. snow.
Susannah Streeter is a Senior Investment Analyst at Hargreaves Lansdown.
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