Saudi Arabia Postpones 'Davos in the Desert' to 2027 as Houthi Attacks Rattle Riyadh

Future Investment Initiative in Riyadh (file photo)

Saudi Arabia has postponed its flagship investment conference — the Future Investment Initiative, better known as "Davos in the Desert" — until 2027, a striking admission that the escalating conflict with Yemen's Houthis is rattling the kingdom's business capital. The annual event, scheduled for October 26 to 29 in Riyadh, was to be its landmark tenth edition.

The FII Institute told partners in a statement shared with CNN that the delay reflected a "deep commitment" to delivering the scale and impact the gathering is known for. But the backdrop is unmistakable: near-daily missile and drone strikes by the Iran-backed Houthis on Saudi airports, energy infrastructure and strategic sites, including a deadly attack on Riyadh's King Khalid International Airport earlier this month. Government offices and major commercial towers in the capital have told staff to work remotely.

The no-show will be costly for the kingdom's economic ambitions. Wall Street titans including Jamie Dimon, Jane Fraser, David Solomon and Larry Fink were all scheduled to speak at an event built to showcase Saudi Arabia's transformation away from oil. With travel warnings mounting, some boardrooms had already balked at sending their CEOs into Riyadh.

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