Former President Bill Clinton attended the forum in 2000, but former Presidents Barack Obama and George W. Bush did not attend the meetings during the time they were in the White House.
Sanders said the president welcomed the opportunity to promote his "America First" agenda with world leaders.
The lone attendee from his coterie of advisers previous year was hedge fund manager Anthony Scaramucci, who later served briefly as Trump's communications director.
The theme of this year's Davos conference is to examine the causes of and solutions for political, economic and social fractures in society, Reuters writes.
Sarah Sanders said Trump was excited to attend the tony forum in the Swiss Alps, his fifth foreign trip as president.
Last year's conference came the same week of Trump's inauguration and delegates at the time predicted Trump would prove a more pragmatic leader than he suggested on the campaign trail or on Twitter.
American administrations regularly send representatives to Davos, but presidents often decline to attend. He withdrew the US from the Trans-Pacific Partnership, a trade agreement between Pacific Rim countries, and pulled out of the Paris climate accord, a commitment to reduce carbon emissions.
The first sitting USA president to appear in Davos was Bill Clinton in 2000, at the forum's 30th anniversary session.
The Global Economic Forum was founded in 1971 by Klaus Schwab, a business professor at the University of Geneva.