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The FII Institute announced on October 19 that Saudi Arabia would postpone the 10th edition of the Future Investment Initiative until 2027, with new dates to be disclosed very soon. Princess Maha Bint Mishari Al Saud made the announcement as Houthi attacks intensified across the kingdom, disrupting plans for the gathering that had been set for October 26 to 29 in Riyadh. Existing registrations and partnerships for the event will remain valid, the institute said in its statement.
Daniel Yergin, vice chairman at S&P Global, described the move as a reasonable decision during an interview with CNBC. “It’s a reasonable decision by the Saudis in terms of this conflict with the Houthis. And this has been a longstanding battle, but it’s really reignited right now, and it is disrupting what would have been a very important and timely major global conference,” Yergin said. He recounted how he had to drive five hours across the desert to Bahrain to leave the country last week because major Saudi airports were shut down.
The conference, informally known as Davos in the Desert, was launched in 2017 by the Public Investment Fund to attract international investors to support Saudi Vision 2030. That initiative seeks to reduce the kingdom’s reliance on oil by developing sectors such as tourism, entertainment and technology, according to official descriptions of the program. Top executives from JPMorgan Chase, Goldman Sachs, BlackRock and other major firms had been slated to speak at this year’s event.
Houthi militants carried out an attack on Riyadh’s King Khalid International Airport on October 10 that killed at least 13 people and injured more than 300 others, Livemint reported citing the Associated Press. Additional strikes targeted Saudi Aramco sites in Yanbu and Shaybah as well as Abha airport, prompting flight suspensions by international carriers including Delta, which delayed its Atlanta to Riyadh service until March 2027. The International Monetary Fund forecast in its October 2026 World Economic Outlook that Saudi Arabia’s economy would contract by 3.3 percent this year amid these regional tensions.
The postponement follows the cancellation of other business events in the kingdom, including an investor day by a private equity firm and the Misk Global Forum, as reported by the Financial Times. Saudi authorities have intercepted multiple drones and missiles in recent days, according to coalition statements. Yergin, who had planned to attend the FII, pointed to the impracticality of holding an international conference under current aviation restrictions.
The Public Investment Fund has positioned the FII as a premier platform for global dialogue on investment opportunities tied to the kingdom’s diversification strategy. Past iterations have drawn thousands of participants and helped secure commitments for projects aligned with national development goals. Organizers indicated that the rescheduled 2027 conference would proceed once security conditions improve sufficiently to host global leaders and financiers safely.
