Davos 2010 got down to business without the glitz of past meetings

But there is also plenty of serious and - at times - brutally direct business.

“We’ve got this major client, we’ve got more than 100 people in his company,” one senior executive of a consulting firm tells me, “and he walks up to me and says ‘this doesn’t work: one... two... three... .’ Now I can nudge the team to ensure there are no more problems.”

The sober mood in Davos probably matched the economic situation.

Few stars had come to Davos. No Bono, no Sharon Stone and definitely no Angelina Jolie.

James Cameron, director of Avatar and Titanic, generated the most excitement - but even he was seen huddling with MIT professor Josh Tenenbaum to discuss cognitive science rather than living the Hollywood life.

Most receptions and night caps were subdued affairs, at least given Davos standards.

Notable exceptions were the Google and McKinsey parties with their jam-packed dance floors - probably for old times’ sake.

Only South Africa, this year’s sponsor of the traditional farewell soiree, worked really hard to inject some party spirit, and the Davos crowd nibbled eagerly on delicacies like pink peppercorn-crusted crocodile and smoked Kudu.

No two years in Davos are the same. In 2011, the forum will be held in a much-extended congress centre.

The organisers may have to work hard to keep the Davos spirit going.