Saudi Arabia Postpones Its ‘Davos in the Desert’ to 2027 as Houthi Strikes Continue
Saudi Arabia has postponed its flagship Future Investment Initiative (FII) conference until next year, as deadly strikes by the Iran-backed Houthis against the kingdom continue. The decision was announced in a statement on the organiser's official website.
The annual event had been due to start next week, running from October 26 to October 29. But Tuesday's statement said a date for next year would be announced ‘very soon’, meaning the landmark tenth edition will not take place this year.
FII Institute chief executive Dr Maha Bint Mishari Al Saud said the decision ‘comes from a deep commitment to our partners, members, speakers and delegates’. She added: ‘Because this is our landmark tenth edition, we want to ensure it delivers the full scale, extraordinary quality, and unforgettable impact that our community has come to expect and truly deserves.’
Informally dubbed ‘Davos in the Desert’, a nod to the World Economic Forum's annual meeting in Switzerland, the state-backed conference showcases the kingdom's ambitious investment plans in a bid to attract the billions of dollars needed to fund its economic transformation away from hydrocarbons towards tourism, sport and technology.
According to the FII website, expected speakers had included Alphabet and Google's president and chief information officer Ruth Porat, Goldman Sachs Group chairman and CEO David Solomon, and BlackRock chairman and CEO Laurence Fink. A guest list of that calibre underlines how significant the postponement is for Riyadh.
The reason lies in the escalating fighting. The conflict between a Saudi-led coalition supporting Yemen's internationally recognised government and the Iran-aligned Houthis has intensified in recent weeks. The Houthis, also known as Ansar Allah, have hit military, energy and civilian infrastructure across Saudi Arabia, including Riyadh's international airport, killing at least 18 people and injuring hundreds more.
The strikes have also disrupted daily life in the capital. Government agencies in Riyadh have told employees to work from home, one worker and two consultants told the AFP news agency, as the city comes under repeated attack.
The Kingdom Centre, a 99-storey tower in downtown Riyadh that houses the International Monetary Fund's regional office, has likewise requested that workers stay away until further notice.
On Sunday, an employee of one government agency in the capital received a message saying, ‘It has been decided to implement remote work from Monday to Thursday this week.’ The message added: ‘We ask everyone to continue their activities as normal.’
The private sector has followed suit: companies based in the King Abdullah Financial District, which hosts offices of major United States firms, have also asked employees to work from home, according to other sources.
In these circumstances, flying thousands of international guests into Riyadh for a world-class conference was plainly impossible — and the organisers' decision makes that clear. Attention now turns to two questions: when the Houthi attacks will stop, and when next year's new dates will be announced.
