The 2nd World Festival of Youth and Students (WFYS) was held from 27 July to 3 August 1949 in Budapest, capital city of the then Hungarian People's Republic, a city still recuperating from World War II.

It was organised by the World Federation of Democratic Youth and the International Union of Students.

On 14 August 1949, 20,000 young people from 82 countries gathered in the Ujpest Stadium, opening the festival.

For two weeks, the participants took part in cultural, sport, and political activities.

Forward for Lasting Peace, Democracy, National Independence and a Better Future for the People!