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Saudi Arabia postpones its 'Davos in the Desert' conference after attacks
Yahoo Finance • • world
Key Points:
- Saudi Arabia has postponed its Future Investment Initiative (FII) conference, originally scheduled for October 26-29, until 2027 due to recent deadly attacks and regional conflict disruptions.
- The FII, often called "Davos in the Desert," is a key event for global financiers and showcases Saudi Arabia's economic diversification efforts away from hydrocarbons toward sectors like tourism and technology.
- The postponement follows escalating attacks by Yemen's Iran-aligned Houthis on Saudi infrastructure, including strikes on Aramco's headquarters and Riyadh's airport, causing casualties and raising safety concerns.
- Organizers aim to maintain the event's high standards and impact, having considered hybrid formats, but safety concerns from major financial institutions influenced the decision to delay the in-person gathering.
- The broader Gulf region has seen multiple event cancellations and postponements this year amid the US-Israeli-Iran conflict, affecting the usual busy calendar in countries like the UAE and Qatar.
