London (CNN Business) President Donald Trump and other world leaders have canceled their trips to Davos to deal with more pressing matters back home. Still, the show must go on.

Some 3,000 of the world's richest and most powerful people are crowding into the small Swiss mountain town for this week's World Economic Forum.

The American president, who was the star guest at last year's forum, canceled his return trip earlier this month but wished organizers well.

"I am respectfully canceling my very important trip to Davos, Switzerland for the World Economic Forum. My warmest regards and apologies to the @WEF!" he wrote on Twitter.

The annual summit produces the year's best opportunity to rub shoulders with chief executives, central bankers, Wall Street money men, influential regulators and powerful politicians. The media shows up too

Armed security personnel stand guard on a rooftop in Davos.

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