Saudi Arabia postpones ‘Davos in the Desert’ summit to 2027 after deadly attacks

Saudi Arabia has announced the postponement of its annual Future Investment Initiative, a major investment conference, to 2027 due to a series of deadly attacks that have shaken the country in recent weeks amidst an intensifying Middle East conflict. Originally scheduled for October 26 to 29, the event will now occur in 2027, with a new date to be disclosed "very soon."

Known as the "Davos in the Desert" due to its similarity to the World Economic Forum's meeting, the conference serves as a platform for top financiers and business leaders to engage with Saudi Arabia's ambitious economic transformation plans. This year's edition featured prominent speakers such as Goldman Sachs CEO David Solomon, Standard Chartered CEO Bill Winters, and Citi CEO Jane Fraser, among others.

The decision to postpone the event stems from the widening Middle East conflict, particularly the ongoing war between the US, Israel, and Iran, which has led to the cancellation or rescheduling of numerous conferences in the Gulf region. In recent weeks, Saudi Arabia faced attacks from Iran-aligned Houthis, resulting in significant casualties and damage to key infrastructure, including the country's state oil company Aramco and Riyadh's international airport.

Organizers aimed to ensure the event would deliver high-quality content and a memorable experience for attendees, even considering a hybrid format to accommodate safety concerns.