The annual Davos gathering of world leaders, billionaires and business executives on a mountain in Switzerland has been delayed by Covid-19 until the summer of next year.

Announcing the move because of health and safety concerns, the World Economic Forum – which has been putting on the meeting of the global elite at a Swiss ski resort for half a century – said it would hold several virtual events in January instead.

Regarded as a cornerstone event for international relations, business and the world economy, the event normally takes place at the end of January each year and is attended by heads of government, company chief executives, celebrities and activists from across the globe.

“The decision was not taken easily, since the need for global leaders to come together to design a common recovery path and shape the ‘Great Reset’ in the post-Covid-19 era is so urgent. However, the advice from experts is that we cannot do so safely in January,” the WEF said.

The dates and location of a rescheduled 2021 annual meeting will be made available as soon as the health and safety of guests and the host community high in the Swiss Alps can be guaranteed, it added.

Almost 3,000 people head to Davos each year, with many of the world’s super-rich flying in by private jet to discuss issues ranging from global heating to inequality, technology and business.

At its 50th annual meeting earlier this year, as many as 53 heads of state from around the world joined the event, including the US president, Donald Trump, and the German chancellor, Angela Merkel.