The World Economic Forum in Davos, Switzerland, is postponed.

First American News LLC-Raleigh NC: The World Economic Forum said Monday that it was postponing its annual meeting in Davos, Switzerland, citing concerns over the spread of the Omicron variant.

The cancellation of the event, which had been planned for Jan. 17-21, is one of the biggest disruptions caused by the new wave of coronavirus cases and upends plans for the many world leaders and corporations that had planned to attend.

As recently as Thursday, the World Economic Forum had said it was proceeding with the event, which draws thousands of politicians, executives, and nonprofit leaders to a ritzy ski town in the Swiss Alps for lectures, panel discussions, dinners, and parties. Organizers had said that they would make a decision about whether to proceed by Jan. 6. Read more on the work economic forums at The News York Times.