St Petersburg , dreamt up by Tsar Peter the Great , is now best known as president Vladimir Putin 's hometown . Last year Putin used SPIEF -- Russia 's Davos -- to showcase his international links and political influence . Is the EU out of its economic crisis ? This year , the Ukraine crisis is overshadowing the forum , and many executives are staying away from Putin . The Russian economy has been in a slump for years, but it still managed to grow at an impressive rate last year.
St Petersburg , dreamt up by Tsar Peter the Great , is now best known as president Vladimir Putin 's hometown . Last year Putin used SPIEF -- Russia 's Davos -- to showcase his international links and political influence . This year , the Ukraine crisis is overshadowing the forum , and many executives are staying away from Putin . The Russian economy has been in a slump for years, but it still managed to grow at an impressive rate last year.