Saudi Arabia delays Davos in the Desert after airport missile strike
Saudi Arabia cancelled next week's investment summit. Houthi attacks led to moving it to 2027.
The Future Investment Initiative, known as Davos in the Desert, was cancelled for October 26-29 after Iran-backed Houthi militants attacked the Saudi capital with missiles and drones. The attacks included a strike on Riyadh's King Khalid International Airport.
Wall Street leaders were scheduled to speak. They include Jamie Dimon, Jane Fraser, David Solomon and Larry Fink.
The growing conflict caused multiple countries to issue travel warnings. The cancellation is a setback to Saudi Arabia's efforts to diversify its economy away from oil.
The country was trying to attract Western investment.
- 10th
- Conference edition
- October 26-29
- Original dates
- 2027 (undisclosed)
- New dates
- King Khalid International Airport
- Target of missile strike
Why it mattersSecurity concerns now matter more than economic goals at one of the world's biggest investment conferences. This shows that trouble in the region is keeping investors away.
AustraliaNo direct Australian effect yet, but Australian investors or funds with Middle East exposure and companies planning Saudi partnerships now face delays until 2027.
✓ Claims checked against the source. checked 2 h ago
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