The World Economic Forum (WEF) announced on Monday that its special annual meeting in Singapore, which was scheduled for August, would be canceled due to the uncertainty surrounding the COVID-19 pandemic.
The forum said the next annual meeting will take place in the first half of 2022, although the precise venue and date have yet to be decided.
“It was a difficult decision, particularly in view of the great interest of our partners to come together not just virtually but in person, and to contribute to a more resilient, more inclusive, and more sustainable world,” Klaus Schwab, the forum's founder, said in a statement posted on its website.
The WEF summit, also known as the Davos Summit, is organized every January in the Swiss winter-resort town of Davos, but the latest event was held virtually.
After the virtual event, the forum announced another summit for 2021 in Singapore in May, which was then postponed to August due to the pandemic measures.