At Davos, Iran is center-stage, North Korea has been disinvited for nuclear saber-rattling, and World Economic Forum founder Klaus Schwab says he's worried about Europe's future, the fallout of plunging oil prices and gaping inequality worldwide.

Home to the annual talkathon of the rich and powerful from across the world for over four decades, this Swiss resort town has its own history of being a place of eminence for medical tourism as also for winter sports.

The country's power sector is at an "inflection point" and most of its electricity demand in the next two decades will be met by burning fossil fuels despite huge investments in renewables, WEF said on Tuesday.