The World Economic Forum said Monday the coronavirus pandemic had forced it to move next year's summit from Switzerland to Singapore, where it will be held in person from May 13-16.

The annual gathering of the world's political, economic and business elite traditionally takes place in January against the idyllic snowy backdrop of the Alpine village of Davos.

But it had already been postponed until May due to the virus, with organisers saying the focus would be on remodelling the world economy in the wake of the crisis.

WEF had announced in October the location of the meeting, branded "The Great Reset", would shift to Lucerne, Switzerland, before saying Monday the pandemic situation was forcing a move out of the country altogether.

"The change in location reflects the Forum's priority of safeguarding the health and safety of participants and the host community," the WEF said in a statement.

It was decided that Singapore was best placed to hold the meeting.

"The Special Annual Meeting 2021 in Singapore will be the first global leadership event to address worldwide recovery from the pandemic," the statement said.

"This in-person meeting will bring together leaders to focus on shaping solutions to the world’s most pressing challenges."

The WEF said it will return to Davos in 2022.