Saudi Arabia's Desert Davos Conference Postponed Following Attacks

Saudi Arabia has announced the postponement of its flagship Future Investment Initiative (FII) conference to 2027 due to deadly attacks that have shaken the kingdom in recent weeks and the expanding Middle East conflicts.

Organizers announced on Monday that the 10th Future Investment Initiative (FII), which was scheduled to take place from October 26 to 29, has been postponed and that a new date will be announced very soon. Known publicly as "Desert Davos," the event aims to attract billions of dollars to economic transformation projects in tourism, sports, and technology by reducing the country's dependence on hydrocarbons. According to the draft program, leading figures in global finance such as Goldman Sachs CEO and Chairman David Solomon, Standard Chartered CEO Bill Winters, and Citi CEO Jane Fraser were expected to speak at the event.

The event calendar in the Gulf region has been disrupted this year due to the war between the US-Israel and Iran, while attacks by Iran-backed Houthis in Yemen targeting military, energy, and civil infrastructure have surged. In attacks this month targeting the Aramco headquarters and Riyadh international airport, at least 18 people lost their lives and hundreds were injured. While major banks and private equity firms were reported to have conveyed security concerns to Public Investment Fund Governor Yasir Al-Rumayyan, it was stated that organizers made the decision to postpone in order to maintain the full-scale quality of the event.