The World Economic Forum will hold its 2021 annual meeting in Singapore instead of its traditional home of Switzerland, which is battling a high number of coronavirus infections.

The annual meeting will be held in Singapore May 13 to 16 and return to Davos-Klosters, Switzerland in 2022, the World Economic Forum said. The meeting will also include a virtual component to allow greater participation, according to Singapore's Ministry of Industry and Trade.

Singapore was chosen because it has a relatively low rate of Covid-19 cases. It also hosted Singapore International Energy Week in October. Earlier this year the World Economic Forum had said it would move the location of its 2021 meeting within Switzerland to the resort of Bürgenstock.

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