Houthis' attacks on Riyadh delay FII conference

Saudi Arabia postponed its landmark tenth Future Investment Initiative conference to 2027 following a wave of Houthi missile and drone strikes on Riyadh. Capital airports faced disruptions, corporate offices ordered remote work, and financial leaders reconsidered travel.

Organizers announced that the milestone event will now take place in 2027, with new dates to be communicated very soon. The annual gathering, widely known as Davos in the Desert, was originally scheduled to run from October 26 to October 29 in Riyadh, according to The National.

#Statement | Follow-up on the attack targeting King Khalid International Airport in Riyadh.#GACA pic.twitter.com/aTPAb8ImDx

— https://x.com/ksagaca/status/2109039231968383000

Princess Dr Maha Bint Mishari Al Saud, chief executive of the FII Institute, explained that the decision comes from a deep commitment to our partners, members, speakers and delegates.

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.

Princess Dr Maha Bint Mishari Al Saud, Chief Executive of the FII Institute

Airport Strikes Force Wall Street Security Calibrations

A missile strike on Riyadh’s King Khalid International Airport earlier in the month left at least 12 people dead and more than 300 injured, according to figures reported by CNBC. Additional strikes hit King Fahd International Airport in Dammam, Saudi Aramco facilities in Yanbu, and the Shaybah oilfield.

told reporters

Other locations targeted by the group included radar sites in the Al-Hisn and Al-Rahma mountains and in Bir Askar. Khamis Mushait Air Base and a Saudi Navy task force camp were also targeted.

Before the cancellation was formalized, executives from major financial institutions were already reassessing travel. JPMorgan Chase CEO Jamie Dimon was linked to the summit’s roster of high-profile figures, as reported by CNN and other networks. Goldman Sachs CEO David Solomon was also included on that list. BlackRock boss Larry Fink, Citigroup CEO Jane Fraser, Blackstone’s Stephen Schwarzman, and Public Investment Fund governor Yasir Al-Rumayyan were featured as well. Banking teams debated whether to make the journey, with some participants planning alternate itineraries that involved flying into Bahrain and driving five hours overland to reach Riyadh, according to CNBC.

Saudi Arabia cancels 2026 ‘Davos in the Desert’ amid Houthi attacks — Photo: Al Jazeera

U.S. President Donald Trump remarked on Truth Social on October 13 that the Houthis were behaving very badly. He later told reporters at the White House that the Saudi government would be receptive to support from the Israeli government in its fight against the Houthi forces. Meanwhile, the United Kingdom announced it was sending Royal Air Force fighter jets on a defensive mission to protect Saudi cities and critical infrastructure, while Pakistan agreed to deploy forces in the kingdom.

Riyadh Imposes Workplace Restrictions and Airline Suspensions

The security environment prompted government agencies in Riyadh to direct employees to work from home, according to local workers and consultants cited by Al Jazeera. The Kingdom Centre, a 99-storey tower, advised staff to stay away until further notice, while firms in the King Abdullah Financial District also instituted remote work.

Houthis Boast of 4 Successful Strikes: In 48 Hours, Saudi Airports, Aramco & Riyadh Defense HQ Hit

International carriers responded to the unrest by suspending routes. Gulf airlines cut flights to Saudi destinations through Saturday, October 24, affecting Flydubai, Qatar Airways, and Etihad Airways. In addition, King Khalid International Airport told airlines they must request permission before landing or taking off, and announced that aircraft could no longer use Riyadh’s main airport for emergencies.

Airline	Route	Suspension Period
Cathay Pacific	Hong Kong–Riyadh	Through 31 January 2027
KLM	Amsterdam–Riyadh	Through 31 October 2026
Etihad Airways	Abu Dhabi–Riyadh	Through 24 October 2026
Air France	Paris–Riyadh	Through 24 October 2026
Air India / IndiGo	India–Saudi Arabia	Through 24 October 2026

Vision 2030 Faces Investment Inflows Fallout

Launched by Saudi Arabia’s sovereign wealth fund in 2017, the Future Investment Initiative has served as the primary showcase for Crown Prince Mohammed bin Salman’s Vision 2030 economic diversification programme. Last year’s gathering attracted more than 9,000 delegates and generated over $50 billion in agreements and projected deals, as noted by the New York Post.

Messe Frankfurt Saudi Arabia announced the rescheduling of Intersec Saudi Arabia to October 2027, while the Saudi Retail Forum was moved to March 2027, according to The National. Other major events, including Riyadh Fashion Week, the Six Kings Slam tennis tournament, and the PIF Saudi International golf tournament, faced disruptions. Meanwhile, Riyadh Season proceeded with the opening of its seventh edition under the Big Time theme, illustrating a selective approach to the capital’s events calendar even as investment summits face indefinite delay.