Davos, Switzerland | There was a glorious outbreak of sunshine in the Swiss Alpine town of Davos this week. Under blue skies and with temperatures firmly above zero, the snow melted from the hillsides and the ice thawed from the usually treacherous pavements.

Participants at the World Economic Forum (WEF)’s 50th annual gathering of the global business and corporate elite came to town clad in padded parkas and snow boots, but quickly found they could leave these at the chalet.