Since then, the WEF had already been forced to change its meeting plans at least six times, scrapping alternative dates and locations from Singapore to the banks of Switzerland's Lake Lucerne as the pandemic extended.
"Current pandemic conditions make it extremely difficult to deliver a global in-person meeting," the forum said on Monday. "Despite the meeting's stringent health protocols, the transmissibility of Omicron and its impact on travel and mobility have made deferral necessary."
The plans for January's meeting had been drawn up with strict safety protocols in mind.
All participants had been told that they must be fully vaccinated against Covid and would need to take a PCR test 72 hours before arriving, another test to activate the badges that grant them access to the main event areas and hotels, and further tests every 48 hours.
With concern growing about Omicron's risks to health and international travel, registrations had been running below the usual levels.
As of last week, about 2,000 people had registered for the January meeting, about two-thirds of the number who attended the 2020 event.
A seven-page health and safety document had advised would-be Davos-goers to "avoid physical contact, including hugs and handshakes" and stipulated that only FFP2 masks, which protect against fine aerosol particles, would be accepted inside the event's security zone, where "buffet concepts" would be replaced by individually packaged food portions.
Had the meeting gone ahead, any attendee who tested positive for Covid would have had their badge access deactivated and been forced to isolate until contacted by local authorities.
"The deferral of the annual meeting will not prevent progress through continued digital convening of leaders from business, government and civil society," said Klaus Schwab, WEF's founder and executive chair.
"Public-private co-operation has moved forward throughout the pandemic and that will continue apace. We look forward to bringing global leaders together in person soon."
