Aug. 26 (UPI) -- The World Economic Forum announced Wednesday that it's postponed its annual summit in Switzerland until next summer due to the COVID-19 pandemic.
The exact dates, location and specifics of the rescheduled summit have not yet been set, the forum said. It had originally been scheduled for Jan. 25. The summit is typically held every January in Davos, Switzerland.
The forum said the soonest the 2021 summit could occur is "early next summer."
"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," WEF spokesman Adrian Monck said in a statement.
"However, the advice from experts is that we cannot do so safely in January."
More details about the event will be given when the forum is sure all safety conditions can be fulfilled, he added.
Instead of the physical meeting in Davos, the forum said it will instead meet remotely for high-level dialogue in January and leaders will share "views on the state of the world in 2021."
The Swiss summit regularly attracts political and economic leaders worldwide.
The forum's 50th annual meeting seven months ago included appearances by U.S. President Donald Trump, teenage climate activist Greta Thunberg and business figures including JPMorgan Chase CEO Jamie Dimon and Hungarian-American philanthropist George Soros.