Since its heyday in the early 1900s as a refuge for the wealthy and tuberculosis-stricken, Davos (pronounced Dah-vos by outsiders and Dah-vos by residents) hasn't changed much. The inspiration for Thomas Mann's The Magic Mountain, this Swiss ski town still boasts only one small commercial thoroughfare, which makes the World Economic Forum's annual meeting, held here every January, a very intimate affair. More than 2,400 members of the organization—which comprises 1,000 of the world's most powerful corporations—attend, alongside several dozen heads of state, movie stars, musicians, and other celebrities.

Sleep: Although events are held at the Congress Center, the real hub is the Steigenberger Hotel Belvedere, one of two five-star hotels in town. Notable guests have included Nelson Mandela and Pervez Musharraf. And in 2006, Brad Pitt and Angelina Jolie holed up here and tried to keep a low profile. Another option is the nearby Waldhotel, which has a renowned spa. When an entourage is too large for either place, as was the case with the Google team last year, attendees turn to local real estate agency Guyan for a weeklong apartment rental.

Eat: Pöstli is a highly regarded restaurant in the Morosani Posthotel. For fondue, Deutsche Bank head Josef Ackermann reportedly books a table at Bistro Gentiana, while other delegates dine at Veltliner Stube, in the Best Western Hotel Bahnhof-Terminus. Dessert options include Choccolino and Confiserie Schneider, a bakery known for its bündner nusstorte, a local specialty consisting of nuts and honey in a shortbread-like shell.

Shop: Locals say that Hillary Clinton ducks into Bucherer, which sells delicate, understated jewelry and timepieces. Chris Tucker bought watches there, "with diamonds," stressed the saleswoman. James Schiro, C.E.O. of Zurich Financial Services, is rumored to stock up on skiwear from among the jackets, rugged boots, and other gear at Paarsenn Sport und Mode. And the town has a Tchibo, a German chain store that combines a coffee shop with a trendy retailer (think Starbucks meets Target).

See: The elegant Kirchner Museum Davos is a glass-paneled homage to the Expressionist painter Ernst Ludwig Kirchner, who committed suicide in Davos in 1938. The museum is also one of the forum's premier party venues.

Après forum: When not doing deals in the Belvedere's Carigiet lobby bar, most delegates wind up at the Hotel Europe's Piano Bar. During the day, global leaders get some sun in wicker chairs at the Snow Beach bar, an outdoor terrace at the Hotel Schatzalp, before tobogganing down the mountain. The Jakobshorn ski area is also nearby.

Time zone: C.E.T. (E.S.T. plus six)

Currency: Swiss franc

Temperature: 28°F to 41°F in January

Airport: Zurich, a two-hour train ride away; a heliport is open during the forum.

Address book: Steigenberger Hotel Belvedere, Promenade 89 • Waldhotel, Buolstrasse 3 • Pöstli, Promenade 42 • Bistro Gentiana, Promenade 53 • Choccolino, Promenade 45 • Confiserie Schneider, Promenade 68 • Bucherer, Promenade 69 • Paarsenn Sport und Mode, Promenade 159 • Kirchner Museum Davos, Ernst Ludwig Kirchner Platz • Hotel Europe, Promenade 63 • Hotel Schatzalp, Obere Strasse 28