Saudi Arabia cancels ‘Davos in the Desert’ amid Houthi attacks; Iran prepares for war

Saudi Arabia has canceled its prominent Future Investment Initiative (FII) conference, widely known as 'Davos in the Desert,' due to a surge in attacks by Iran-backed Houthi militants. The annual event, which was set to take place in Riyadh from October 26-29, 2026, has now been postponed until an undisclosed date in 2027. This decision follows a series of missile and drone strikes targeting Saudi airports and vital infrastructure, including a deadly attack on King Khalid International Airport, raising significant security concerns for international attendees and impacting the kingdom's efforts to attract foreign investment.

The escalating conflict in the region is further heightened by declarations from Iranian military commanders signaling their readiness for expanded hostilities. Officials have underscored Iran's enhanced military capabilities and warned of strong responses to any new aggression, particularly against the United States. This comes amidst a volatile period in the broader Middle East, with the conflict between the Houthis and the Saudi-backed Yemeni government intensifying, reflecting a dangerous regional confrontation.