Saudi Arabia postpones 'Davos in the Desert' investor summit to 2027 as Houthi attacks rattle kingdom

Saudi Arabia has postponed its flagship Future Investment Initiative to 2027 after Houthi missile strikes on the kingdom raised security fears, the Wall Street Journal reported (https://www.wsj.com/world/middle-east/saudi-arabia-decides-against-holding-in-person-investor-conference-d9f5e66b).

The conference — the “Davos in the Desert” — was scheduled to open on 26 October in Riyadh. Organisers abandoned plans for an in-person event on Monday before telling attendees the gathering would move to next year. The decision was taken, organisers said in an email, to ensure the milestone tenth edition delivers “the full scale, quality, and impact” partners and delegates expect, with new dates to be announced soon, according to the New York Post (https://nypost.com/2026/10/19/business/saudi-arabia-scraps-in-person-investor-summit-as-houthi-missile-attacks-rattle-kingdom/).

Bankers at JPMorgan Chase and Citigroup were already cancelling meetings before the announcement, with the teams of chief executives Jamie Dimon and Jane Fraser weighing whether to make the trip.

The security fears intensified after a Houthi attack on Riyadh’s King Khalid International Airport earlier this month killed at least 13 people and wounded more than 300, the Journal reported. The kingdom says the Houthis have struck the airport at least four times in the past fortnight with 20 projectiles; another strike on the southern city of Najran on Sunday injured six.

The disruption has also hit Riyadh Fashion Week, the Six Kings Slam tennis tournament, the PIF Saudi International golf tournament and plans for a summit between EU and Gulf Arab leaders, the Post reported.