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R358 000 for a seat at Davos

Jan 24 2013 12:26
Zuma

President Jacob Zuma during a session about Africa at the World Economic Forum in Davos. (AFP)

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Cape Town - South African delegates attending this year’s World Economic Forum in Davos, Switzerland will pay about R358 000 to attend the exclusive, invite-only event, a report says.

The hefty price tag includes travel expenses, accommodation and attending various events, MoneyWeb reported.

South Africa has sent 126 delegates this year, nine of whom are ministers.

The delegates include President Jacob Zuma, Nedbank CEO Mike Brown, Trade and Industry Minister Rob Davies, Minister of Finance Pravin Gordhan, CEO of Discovery Adrian Gore, Minister in the Presidency Trevor Manuel, Transnet CEO Brian Molefe, Labour Minister Mildred Olifant, and JSE CEO Nicky Newton King.

A flight ticket from Johannesburg to Davos costs about R31 184 a person, while a stay at a three star hotel at the resort costs about  $530 (appoximately R4 791) a night, which translates to R47 488 for nine ministers, the report said.

A basic membership ticket to attend the event costs $19 000 (appoximately R171 760) a head, but faith leaders, social entrepreneurs and non-governmental organisation representatives are exempt. A premium membership ticket which allows you to rub shoulders with influential politicians and businesspeople costs a whopping $500 000 a head.

The World Economic Forum is an annual meeting that gathers some of the world's leading politicians and economists and is viewed as a global think tank.  

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