Saudi Arabia Cancels 'Davos in the Desert' Amid Houthi Attacks

Saudi Arabia has postponed its flagship "Davos in the Desert" investment conference, officially known as the Future Investment Initiative (FII), which was scheduled to take place next week in Riyadh. The decision comes amid an escalation of attacks by Iran-backed Houthi militants. The annual event, a key platform for Saudi Arabia's economic diversification goals, will now be held at an unspecified date in 2027.

The cancellation follows a series of recent Houthi aggressions, including a deadly missile strike earlier this month on Riyadh's King Khalid International Airport, which resulted in at least 17 fatalities and hundreds of injuries. Additionally, a ballistic missile attack on a Yemeni government security forces training camp in Shabwa province killed at least 53 recruits and wounded over 200, marking one of the deadliest incidents in the renewed conflict.

Organizers cited the need to ensure the "full scale, quality, and impact" of the conference's tenth edition for its partners, speakers, and delegates. The postponement represents a setback for the kingdom's efforts to attract global investment and pivot its economy away from oil and gas.