Saudi Arabia has postponed its flagship Future Investment Initiative (FII) conference until 2027 as escalating missile and drone attacks by Iran-backed Houthi militants raise security concerns and disrupt the kingdom’s efforts to attract global investors. The annual gathering, scheduled in Riyadh from October 26 to 29, was expected to feature leading executives from Wall Street’s biggest financial institutions.
Often called “Davos in the Desert”, the conference is a key platform for Saudi Arabia to showcase its economic ambitions and attract foreign capital as it seeks to diversify beyond oil.
The postponement comes after a recent attack by Iran-backed Houthi rebels on Riyadh's King Khalid International Airport, which left at least 13 people dead, the Associated Press reported.
The FII Institute, which organises the event, said the new dates would be announced soon. Existing registrations and partnerships will remain valid.
On Monday, Princess Maha Bint Mishari Al Saud announced that officials were postponing the Future Investment Initiative, which was scheduled for October 26 through the 29th until next year.
"This decision comes from a deep commitment to our partners, members, speakers, and delegates," Princess Maha said in a statement. “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.”
Saudi Arabia's FII conference postponed amid Houthi attacks
The 2026 conference was expected to bring together JPMorgan Chase chief executive Jamie Dimon, Goldman Sachs chief executive David Solomon, Blackstone chief executive Stephen Schwarzman, BlackRock chief executive Larry Fink and Citigroup chief executive Jane Fraser.
The postponement follows a series of attacks attributed to Yemen’s Houthis. Saudi airports, energy facilities and other strategic sites have come under threat, complicating travel arrangements for international participants.
Some conference attendees had reportedly planned to fly to Bahrain and then travel approximately five hours by road to Riyadh.
Houthi missile and drone strikes target Saudi airports and oil facilities
King Khalid International Airport in Riyadh was among the sites reportedly hit in October. More than 300 people were reported injured in accounts of the airport attack.
The Houthis claimed on Monday to have targeted the Riyadh airport again, alongside Abha International Airport in southwestern Saudi Arabia, Saudi Aramco facilities in Yanbu on the Red Sea coast, the Shaybah oilfield and Saudi naval forces.
Saudi military officials said several drones launched towards the Riyadh region were destroyed on Friday and Saturday. Missiles approaching over the Red Sea were also intercepted, including one heading towards Yanbu, a key port and oil export terminal.
Why postponement matters for Saudi Arabia's Vision 2030
Saudi Arabia’s sovereign wealth fund launched the Future Investment Initiative in 2017 as part of the kingdom’s strategy to attract international investment and develop industries beyond hydrocarbons.
Crown Prince Mohammed bin Salman unveiled the ambitious NEOM megaproject at the inaugural conference, establishing the event as a showcase for the kingdom’s economic transformation plans.
The annual gathering has since become an important meeting point for global investors, financial institutions and Saudi officials. Its postponement removes a major platform for promoting investment and announcing partnerships amid mounting regional uncertainty.
The longer-term impact on investor confidence remains unclear. However, continued security concerns could influence corporate travel decisions and assessments of investment risks across the Middle East.
Gulf Conflict Disrupts Business Travel, Raises Security Concerns: S&P Global’s Yergin
Dan Yergin of S&P Global, speaking to CNBC after returning from Saudi Arabia, said the travel difficulties had made the postponement understandable.
“I was there last week in order to leave the country, had to drive five hours across the desert to Bahrain. All the airports are shut down, the major airports. You can't have an international conference if your airports are shut. So it seemed.”
Yergin said the confrontation with the Houthis had intensified, disrupting what would have been an important international gathering.
“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.
Asked whether the attacks reflected a regional dispute or a broader escalation involving Iran and maritime security, he said Tehran was involved.
“Well, it is I think certainly Iran is involved in this. I don't think the Houthis have the capacity themselves to target it the way. So clearly the Iranians are helping them, as, of course, the Iranians have also stepped up attacks on ships in the Gulf.”
The Future Investment Initiative (FII) conference organisers have said that registrations and partnerships will remain valid. The conference is now expected to take place in 2027, with revised dates to be announced.