Until Friday, he will take part in three panels which will discuss the challenges brought by globalisation 4.0, the future of Europe and 2019 as a decisive year for Europe, and the creation of strong partnerships for growth and peace in the Western Balkans.

Šarec will also take the opportunity of the conference to hold a number of bilateral meetings, the prime minister's office has announced.

On Thursday, he is scheduled to meet Serbian President Aleksandar Vučić and Montenegrin Prime Minister Duško Marković, while a meeting with Macedonian PM Zoran Zaev is due on Friday.

Šarec will also meet President of the European Investment Bank Werner Hoyer, President of the European Bank for Reconstruction and Development Suma Chakrabarti and Novartis CEO Vasant Narasimhan.

This year's World Economic Forum, which will focus on globalisation 4.0, will discuss topics from the fields of geopolitic and multi-conceptual world, future of the economy, industrial systems, cyber security, human capital and institutional reforms.

A lot of burning topics to be discussed in Davos relate to the US and President Donald Trump, who will not be in Switzerland to defend his views as the US delegation has cancelled its trip due to the government shut-down.

In the absence of Trump as well as British Prime Minister Theresa May and French President Emanuel Macron, who are both dealing with issues at home, the main speaker is German Chancellor Angela Merkel, who has addressed the event today.