Hundreds of world leaders, business executives and financial gurus have been descending on the Swiss skiing village of Davos for a week of lectures and discussions.

Those arriving at the snow covered resort, high in the Swiss Alps, contrast starkly with the ski outfitted hordes in Klosters just down the road.

But this exclusive Swiss village is home to the annual meeting of the World Economic Forum - an event that brings together politicians, economists and business leaders in an unique way.

Sessions begin today and cover subjects ranging from the `Alert Traveller' to the electronic retail revolution and understanding the human brain. But ultimately the forum is about economics.

According to its managing director, Mr Claude Smadja, the 1999 annual meeting, which runs until Monday, will provide an opportunity for a broad assessment of the new global situation and a reassessment of where globalisation is taking us.

In Davos to discuss these issues are 250 politicians and 250 business leaders as well as so-called media leaders.

The guest list includes a host of finance ministers including Gordon Brown, UK Chancellor of the Exchequer, Germany's Mr Oskar Lafontaine, Mr Eisuke Sakaibara, vice-minister of finance of Japan, Mr Dominique Strauss-Kahn of France as well as Mr Lawrence Summers, the US deputy secretary of the treasury.

The European Central Bank President, Mr Wim Duisenberg, as well as his potential French successor, Mr Jean-Claude Trichet, will also be in attendance. The ubiquitous financier Mr George Soros will be airing his views as will various central bankers and finance ministers from Brazil, Thailand and Mexico along with several Federal Reserve governors.

One participant who will be welcomed after making quite an impression last year is the former speaker of the House of Representatives, Mr Newt Gingrich.