Saudi Arabia cancels 2026 ‘Davos in the Desert’ amid Houthi attacks
Summary
Saudi Arabia has postponed its major investment conference, called the Future Investment Initiative (FII), until next year due to ongoing attacks by the Iran-backed Houthi group. These attacks have targeted parts of Saudi Arabia, including Riyadh’s airport, causing deaths and injuries and leading government offices and companies to have employees work from home.Key Facts
- The FII conference, nicknamed “Davos in the Desert,” was scheduled for October 26-29, 2026, but will now happen next year.
- Houthis, an Iran-backed group fighting in Yemen, have launched strikes on Saudi Arabia, hitting military, energy, and civilian targets.
- The attacks killed at least 18 people and injured many more.
- Riyadh’s international airport was attacked on October 8, causing smoke and flames.
- Saudi government employees in Riyadh have been instructed to work from home due to security concerns.
- Major office buildings, including the Kingdom Centre and companies in the King Abdullah Financial District, also asked workers to stay home.
- The FII conference promotes Saudi Arabia’s plan to diversify its economy towards tourism, sports, and technology and attracts global business leaders.
- Notable planned speakers included top leaders from Google, Goldman Sachs, and BlackRock.
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