Saudi Arabia on Monday postponed its major annual investor conference until 2027, as Iran-backed Houthi militants have escalated missile and drone attacks on the kingdom in recent weeks.
The Future Investment Initiative was originally scheduled to be held in the Saudi capital Riyadh from October 26th to October 29th. “New dates for 2027 will be announced soon,” conference organizers said in a statement.
The decision to postpone the conference came after the Houthis attacked Riyadh’s King Khalid International Airport on October 10, killing at least 12 people and injuring more than 300.
Some of the biggest names in business and finance were featured as speakers at the conference. They included Jamie Dimon of JPMorgan Chase & Co., David Solomon of Goldman Sachs, Stephen Schwarzman of Blackstone, Larry Fink of BlackRock, and Jane Fraser of Citigroup.
CNBC was told that some participants and speakers had planned to fly to Bahrain first and then drive five hours to Riyadh to travel to Saudi Arabia.
This screen capture, taken from CCTV footage shown on a screen during a press conference by the Saudi-led coalition in Riyadh on October 15, 2026, and made available via AFPTV, shows what the coalition claims is a Houthi attack on Abha International Airport on October 7, 2026.
– | AFP | Getty Images
Saudi Arabia’s sovereign wealth fund launched the Future Investment Initiative in 2017. The conference has played a key role in Riyadh’s plans to diversify its oil-dependent economy. Crown Prince Mohammed bin Salman announced the ambitious megaproject NEOM at the first meeting of 2017.
The decision to postpone the conference underscores the deteriorating security situation in the Middle East as the war between the United States and Iran spreads across the region. Since the deadly airport attack earlier this month, Houthi militants have launched repeated missile and drone attacks against Saudi Arabia.
The Saudi military destroyed several drones it launched into the Riyadh region on Friday and Saturday, a Saudi military spokesperson said. A spokesperson said missiles fired into the Red Sea were also intercepted on Friday, including one headed for the port city of Yanbu.
