Saudi Arabia Pushes 'Davos in the Desert' to 2027 After Deadly Attacks

Saudi Arabia Pushes Davos in the Desert to 2027 After Deadly Attacks

Saudi Arabia has postponed its flagship investment conference, the Future Investment Initiative, until next year, following deadly attacks that have rocked the kingdom in recent weeks as the Middle East conflict widens.

The conference, informally dubbed "Davos in the desert," was planned for October 26 to 29. Organizers confirmed in a statement on Monday that its 10th edition will now take place in 2027, with a new date to be announced "very soon." Reuters had reported earlier on Monday that the in-person event had been scrapped.

The FII has become a must-attend gathering for some of the world's top financiers. Expected speakers this year included Goldman Sachs CEO David Solomon, Standard Chartered CEO Bill Winters and Citi CEO Jane Fraser, according to a draft programme. The state-backed event showcases the kingdom's ambitious plans to attract billions of dollars to fund its economic transformation away from hydrocarbons and toward tourism, sports and technology.

The US-Israeli war with Iran has already disrupted the Gulf's busy events calendar, with several conferences in the UAE and Qatar cancelled, postponed or retooled earlier this year. In recent weeks, Yemen's Houthis have struck Saudi military, energy and civilian infrastructure, including state oil company Aramco's headquarters and Riyadh's international airport — strikes that killed at least 18 people and wounded hundreds this month.

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