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The annual gathering of business and political leaders at the World Economic Forum has been postponed due to the spread of Omicron.
The meeting was supposed to take place in Switzerland in January, but will now take place in the summer.
The WEF said that the current Pandemic conditions make it difficult to deliver a global in-person meeting.
Participants would take part in a series of online sessions.
The founder and executive chairman of the World Economic Forum said that the deferral of the annual meeting will not prevent progress through continued digital convening of leaders from business, government and civil society.
Public-private cooperation has moved forward throughout the Pandemic.
The annual WEF meeting was moved from Davos to Singapore last year because of Covid and was due to be held in August.
As the Omicron variant of Covid spreads through Europe, Switzerland has become the latest country to introduce new restrictions, including a mandatory order to work from home.
The WEF said that the meeting's stringent health protocols made deferral necessary.
WEF aims to improve the state of the world by bringing leaders from business, politics, charity and academia together.
The conference used to be held in the Alpine ski resort of Davos, but last year it was moved to another location.
A coronaviruses epidemic.
It is at the annual meeting of the World Economic Forum in Davos.