Saudi Arabia’s marquee investment conference, the Future Investment Initiative, has been postponed to 2027. The decision follows escalating missile and drone strikes by the Iran-backed Houthi militia in Yemen. Organizers notified participants this week, communicating that new dates will be announced soon.
The event, nicknamed "Davos in the Desert," was originally scheduled to begin on Oct. 26. The postponement underscores how regional security concerns are jeopardizing the kingdom's economic diversification plans under Crown Prince Mohammed bin Salman. The FII summit serves as a premier venue to pitch post-oil plans to the world.
The decision is a blow to efforts to project calm amid escalating attacks. Deadly strikes on King Khalid International Airport in Riyadh this month killed at least 13 people and injured hundreds, forcing the facility to close and causing thousands of flight cancellations. Saudi Arabia further restricted flights to and from Riyadh this weekend, requiring explicit prior permission.
Many speakers and delegates had already canceled their plans or rerouted travel through Bahrain ahead of the postponement. The FII Institute previously drew over 8,000 participants and featured prominent business leaders, including Larry Fink of BlackRock and Jamie Dimon of JP Morgan Chase.
Source: New York Times Business · Summarized by HeadlinesBriefing