Saudi Arabia has ruled out holding its flagship Future Investment Initiative in person this year, as continuing attacks by Iran-backed Houthi militants disrupt travel into the kingdom. The annual conference, often dubbed Davos in the Desert, was scheduled to take place from October 26 to 29. While the event may be held fully online or postponed, it is now planned to take place in 2027.
The decision follows repeated volleys of missiles and drones launched by Houthi militants, including attacks on Riyadh. These escalations come after a deadly airport attack earlier this month, leaving persistent security concerns regarding travel to the capital.
As a centerpiece of efforts to diversify the economy from its reliance on the energy industry, the Future Investment Initiative is critical to Riyadh’s goals of attracting foreign capital and positioning itself as a global business hub. Organizers stated that new dates would be announced soon.