World Economic Forum series of research reports and engages its members in sector-specific initiatives. There have been many other international conferences nicknamed with "Davos". However, the World Economic Forum objected the use of "Davos" in such contexts for any event not organised by them. This particular statement was issued on 22 October 2018, a day before the opening of 2018 Future Investment Initiative (nicknamed "Davos in the desert") organised by the Public Investment Fund of Saudi Arabia. The WEF was founded in 1971 by Klaus Schwab, a German-born business professor at the University of Geneva. First named the "European Management Forum", it changed
Yalta International Economic Forum forum is attended by Russian government officials, international experts, Russian business people and economists, as well as representatives of business organisations and other thinkers. One theme of the forums discussions, is the focus on diversification from Energy and boosting competitiveness of the Russian economy. In August 2015 the Yalta International Economic Forum Foundation was established by the Ministry of Justice in the Republic of Crimea, with assistance by the Council of Ministers of the Republic along with support by the Russian Presidential Administration. The first forum was held in 2015, which was considered a success by participants and the Foundation,