Saudi Arabia has postponed its flagship Future Investment Initiative (FII) conference until 2027 as escalating attacks by Yemen’s Iran-aligned Houthi rebels raise security concerns across the kingdom. The event, often called “Davos in the Desert,” was scheduled to take place in Riyadh from October 26 to 29.
The decision is a setback for the kingdom’s efforts to attract international investors and strengthen its position as a global business hub. The conference has become a major platform for promoting Saudi Arabia’s Vision 2030 program, which aims to reduce its dependence on oil by expanding sectors such as tourism, technology and finance.
The organizers confirmed the postponement on October 19 but have not yet announced new dates.
The postponement comes amid a fresh escalation in attacks attributed to the Houthis, who have targeted Saudi military, energy and civilian infrastructure. Riyadh’s King Khalid International Airport has also been affected, disrupting travel and raising concerns about the safety of international visitors.
The security situation has made it more difficult for overseas executives and investors to plan trips to the Saudi capital. Some business leaders have reportedly reconsidered attending as the conflict continues to disrupt travel across the region.
Organizers explored alternatives, including a hybrid format that would let participants attend remotely. However, the decision to postpone the event suggests that maintaining the conference's expected scale and quality became increasingly difficult under the current circumstances.
The 10th edition of the FII conference was expected to bring together prominent executives from global financial institutions, alongside government officials and business leaders. The expected participants included Goldman Sachs CEO David Solomon, Citigroup CEO Jane Fraser, and BlackRock CEO Larry Fink. JPMorgan Chase CEO Jamie Dimon was also among the high-profile figures associated with the event.
The conference has become an important meeting point for investors seeking opportunities in Saudi Arabia. Its sessions often focus on investment deals, economic policy and projects linked to the kingdom’s long-term development plans.
The delay could affect discussions and announcements planned around the gathering, although it does not necessarily mean that investment negotiations between Saudi Arabia and international companies will stop.
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Saudi Arabia launched the Future Investment Initiative in 2017 to attract foreign capital and diversify its economy beyond oil. The event has since developed into one of the kingdom’s most prominent international business gatherings.
Its postponement comes at a sensitive time for Crown Prince Mohammed bin Salman’s Vision 2030 program, which relies on investment to support major projects and develop new industries.
The latest security concerns also highlight the challenges facing Gulf countries as regional tensions disrupt business travel and international events. The FII Institute has said the conference will take place in 2027, with revised dates to be announced. Existing registrations and partnerships are expected to remain valid.