The global elite and celebrities are poised to return to Switzerland following a two-year break due to the pandemic.

The World Economic Forum, WEF, will take place take place in Davos, Switzerland in the last week of May, its organizers said in a statement on Friday. The summit was due to take place in January, but was delayed due to Switzerland's high coronavirus infection rates and travel restrictions.

Host and founder Klaus Schwab vowed to keep the glitzy annual gathering of key policymakers, business figures, politicians, and celebrities in Switzerland amid speculation it could move to Singapore.

In May, WEF participants will discuss the pandemic recovery, climate change, building a better future for work, stakeholder capitalism, and technologies of the Fourth Industrial Revolution, the organizers said.