The major differences are that Davos is an alpine village (rather "city" with less than 10'000 persons living there during summer season, with more than 30'000 people in winter season) on 1560m altitude. There is also a small lake in Davos where you can swim, though with cooler water temperature of course ;-)
The Walensee area is on lower plains at 450m a.s.l. with several distributed villages and also mountain ranges around it.
Both are quite close to each other.
This difference in altitude can mean that the temperature in Davos is about 7º C cooler in average than in the lower Swiss plains. This can be a great relief during hot summer days. Though, it also can mean that during weather situations with lower stratus clouds (e.g. around 1000m a.s.l.) you will find overcast and low temperatures around Walensee or other lower plains, but sunny days and even higher temperature in Davos and especially on higher mountains ;-)
E.g. right now, sunny everywhere in Switzerland, more or less the first (!) real spring day of this year (very late!), you find 21.5º C in Chur, 20º in Bad Ragaz (Walensee area), 20.1º in Vaduz, but 13.6º in Davos and 3.2º on the Weissfluhjoch peak (2843m a.s.l.) above Davos.
Thank you for your reply. Beside the weather condition. What about activities ??
Well, it very much depends on your preferences. If you look for an alpine experience (but still have the ability to get some standard city-like amenities) and like to hike a lot then go to Davos, especially - or even more remote alpine villages, but with much less amenities available. In Davos/Klosters you are closer to St. Moritz and the Engadine valley. You actually are in the middle of the Grisonian Alps. Generally, moving around takes more time than in the plains of course. Anyhow, you will hike or bike a lot, so slow life is the topic anyhow, and extremely suitable to calm down from a hectic life.
It very much depends on what you like. With my children I would go into the Alps, but of course, they are used to it, they love it, they like to hike, to spend their whole day at a wild creek and to barbecue their sausages over an open fire on a sunny day. And they like to read on a rainy day, or whatever how they like to organize their spare time by themselves. But if you think they need constant distractions by explicit children-specific "attractions", it is probably wiser to be closer to such things.
But I am sure, you would not experience the same alpine feeling on the plains - not only because of the difference in climate, but also because of the different life style.
I can't really tell you, what to do, I do not know you and your children and your preferences. But I think, you get lot of information on the respectives sites.
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