The current settlement of the Davos area started back in High Middle Ages with the immigration of Rhaeto-Romans. Then from about 1280 the barons of Vaz allowed (German speaking) Walser colonists to settle down and conceded them extensive self-administration rights Davos became the largest Walser settlement area in eastern Switzerland Natives therefore still speak. In the "natural ice" era of winter sports, Davos, and the Davos Eisstadion was a mecca for speed skating.

Many international championships were held here, and many world records were set, beginning with Peder Østlund who set four records in 1898. A dialect that may seem a typical for Graubünden, rather showing similarities with (German) idioms of western parts of Switzerland is spoken, such as in Bernese Oberland and the Upper Valais 1436, the League of the Ten Jurisdictions was founded in Davos from the middle of the 18th century, Davos became a popular destination for the rich and ailing because the microclimate in the high valley was deemed excellent by doctors and recommended for lung disease patients.

For example Robert Louis Stevenson (who suffered from tuberculosis wintered in Davos) in 1880 at the recommendation of his Edinburgh doctor, Dr. George Balfour. Arthur Conan Doyle wrote an article about skiing in Davos in 1899. Davos is also the setting of Thomas Mann's novel Der Zauberberg (The Magic Mountain), which takes place at a sanatorium.