Saudi Arabia cancels 2026 ‘Davos in the Desert’ amid Houthi attacks

As deadly strikes by the Iran-backed Houthis against the kingdom continue, saudi Arabia's Future Investment Initiative (FII) conference has been postponed until next year, according to a statement on the official website.

Key points

• The Kingdom Centre, a 99‑storey tower in downtown Riyadh that houses the International Monetary Fund's regional office, additionally requested workers stay away until further notice.
• FII Institute chief executive officer Dr Maha Bint Mishari Al Saud remarked the decision "comes from a deep commitment to our partners, members, speakers and delegates".
• Fighting between a Saudi-led coalition supporting Yemen's internationally recognised administration and the Iran-aligned Houthis has escalated in recent weeks.
• It hosts offices of major United States firms, have additionally asked employees to work from home, according to other sources.
• The message continued: "We ask everyone to continue their activities as normal."

For context, the annual event was due to start next week on October 26 and run through October 29, with a date next year to be confirmed "very soon", the statement issued on Tuesday noted.

"Because this is our landmark tenth edition, we want to ensure it delivers the full scale, extraordinary quality, and unforgettable impact that our community has come to expect and truly deserves, " she remarked.

Informally dubbed "Davos in the Desert", a nod to the World Economic Forum's annual session in Switzerland, the state-backed conference showcases the kingdom's ambitious investment aims in a bid to attract billions of dollars needed to fund its economic transformation away from hydrocarbons towards tourism, sport and technology.

Projected speakers included: Alphabet & Google's president and chief information officer, Ruth Porat; Goldman Sachs Group chairman and CEO David Solomon; and BlackRock chairman and CEO Laurence Fink, according to the FII website.

Notably, the Houthis, additionally known as Ansar Allah, have hit military, energy and civilian infrastructure throughout Saudi Arabia, including Riyadh's international airport, killing at least 18 individuals and injuring hundreds more. Administration staff to work from home.

As the city comes under repeated attack from the Houthis, administration agencies in the Saudi capital, Riyadh, have informed employees to work from home, one worker and two consultants informed the AFP news agency.

For context, the Kingdom Centre, a 99‑storey tower in downtown Riyadh that houses the International Monetary Fund's regional office, additionally requested workers stay away until further notice.

On Sunday, an employee of a administration agency in the capital received a message saying, "It has been decided to implement remote work from Monday to Thursday this week". The message continued: "We ask everyone to continue their activities as normal."

Firms based in the King Abdullah Financial District. It hosts offices of major United States firms, have additionally asked employees to work from home, according to other sources.

Taken together, the developments around saudi Arabia cancels 2026 'Davos in the Desert' amid Houthi attacks point to a situation that is still moving, and the coming days should bring more clarity.