TLDR: Finance bosses snub Davos as ‘conference fatigue’ sets in

Leading figures in the financial sector are choosing to skip the World Economic Forum in Davos this year, citing “conference fatigue” as the reason for their absence. Bank of England governor Andrew Bailey, Dame Anne Richards of Fidelity International, John Studzinski of Pimco, and Hendrik du Toit of Ninety One have all decided not to attend. Private equity firms Clayton Dubilier & Rice and BC Partners are also among the firms opting out of the event. One CEO, whose company has been a regular attendee, said they have chosen to stop attending due to “conference fatigue”.

Key points:

• Finance industry leaders are skipping the World Economic Forum in Davos due to “conference fatigue”.
• Bank of England governor Andrew Bailey, Dame Anne Richards of Fidelity International, John Studzinski of Pimco, and Hendrik du Toit of Ninety One are among those not attending.
• Some firms, including Clayton Dubilier & Rice and BC Partners, have also chosen to skip the event.

The World Economic Forum in Davos has traditionally been a gathering of the world’s elite finance professionals and political leaders. However, as the conference landscape becomes increasingly crowded with rival events, the allure of Davos seems to be diminishing for some.

One reason cited for the decline in attendance is the rising costs associated with the event. A standard entry fee for Davos this year is $250,000, leading critics to question whether it is worth the price tag. Industry insiders argue that the value of attending Davos has diminished over time, with the event becoming more of a networking opportunity rather than a platform for substantial discussions and decision-making.

In addition to increasing costs, the rise of alternative conferences has also contributed to the decrease in attendance at Davos. As more events emerge that target specific industries or themes, finance professionals may prefer to attend conferences that cater to their specific interests rather than a generalist event like Davos.

The absence of key figures in the finance industry at Davos this year highlights the growing phenomenon of “conference fatigue.” In an increasingly interconnected world, finance professionals are bombarded with invitations to conferences, events, and summits on a regular basis. Attending too many can be overwhelming and may ultimately dilute the value of participation in any single event.

While Davos still retains its reputation as an important global gathering, the decline in attendance from finance leaders raises questions about the continued relevance and appeal of the event. As rival conferences continue to attract high-profile speakers and offer more targeted content, the World Economic Forum may be forced to adapt its approach in order to stay competitive.