The 48th annual meeting of the World Economic Forum (WEF) began on January 23, 2018 in Davos, Switzerland with the theme 'Creating a Shared Future in a Fractured World'. WEF Founder and Executive Chairman Klaus Schwab declared the summit open amid the ski-resort receiving record snowfall. Schwab welcomed members from business, politics, academia and media as well as the first timers with a round of applause. The summit would witness participation from over 3,000 world leaders, business patrons, academicians, philanthropists and politicians from across the world.