Riyadh scraps ‘Davos in the desert’ as Houthi attacks endanger air travellers

By the Editorial Team · Tuesday, October 20, 2026

Saudi Arabia has delayed its Future Investment Initiative conference scheduled for next week in Riyadh due to recent security threats from Houthi rebel attacks, including a deadly missile strike on King Khalid International Airport. This postponement disrupts a major economic event that supports the kingdom’s diversification goals and highlights the broader challenges posed by ongoing conflict and international travel advisories.

Saudi Arabia has postponed its annual Future Investment Initiative (FII) conference, originally scheduled to take place next week in Riyadh, citing recent security threats linked to attacks by Yemen’s Houthi rebels. The organizers announced that the event, often referred to as "Davos in the desert," will be rescheduled for next year, with new dates to be confirmed shortly.

The decision follows a string of Houthi strikes targeting Saudi infrastructure, including a deadly attack on King Khalid International Airport in Riyadh. On October 10, a missile strike at the airport killed 13 people and wounded more than 300, leading to the closure of the facility. The persistent security concerns have raised safety issues for international visitors and disrupted travel and logistics within the kingdom.

The FII is one of the Gulf region’s most prominent investment gatherings, typically drawing global leaders, senior executives from major financial institutions, and figures from the energy sector. The event has served as a significant platform for Saudi Crown Prince Mohammed bin Salman to promote the kingdom’s economic diversification plans, including ambitious projects like the $500 billion Neom city unveiled at the 2017 summit. However, some of these initiatives have since been scaled back, and the event's reputation suffered after the 2018 killing of journalist Jamal Khashoggi, which led to numerous high-profile withdrawals.

This year’s conference was expected to feature prominent speakers such as BlackRock CEO Larry Fink and JPMorgan CEO Jamie Dimon. Organizers reportedly considered hosting the FII virtually on the originally planned dates before ultimately deciding to postpone entirely.

The postponement comes amid a broader suspension of global events across the kingdom, including a recently canceled summit intended to host European Union leaders. In response to the ongoing conflict between Saudi Arabia and the Houthi movement that began nearly eight months ago, several countries, including the United States and the United Kingdom, have issued strong travel advisories urging citizens to avoid travel to Saudi Arabia. These advisories, coupled with heightened security risks, have complicated arrangements for companies seeking insurance coverage for employees attending events in the kingdom.

The disruption of high-profile gatherings such as the FII is expected to exacerbate the economic impact of the conflict on Saudi Arabia. The ongoing hostilities have already contributed to interruptions in oil exports and a slowdown in the country’s economic growth, challenging the crown prince’s vision of transforming the kingdom into a global financial hub.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.