Saudi Arabia Cancels In-Person ‘Davos In The Desert’ Event Amid Houthi Attacks

Update(11:13ET): Saudi Arabia, having come under nearly daily ballistic missile attacks from the Houthis in Yemen, will not hold its ‘Davos in the Desert’ flagship investor conference in-person next week. Instead it looks to merely be an online event. 

“Saudi Arabia’s Future Investment Initiative, a marquee showcase for foreign investment, was to gather the global financial elite in Riyadh beginning Oct. 26,” The Wall Street Journal reports.

“Organizers decided Monday that if the conference goes ahead, its sessions will be held virtually rather than in person, the people said,” WSJ continues. “The kingdom is expected to make a decision Tuesday or earlier whether to postpone the event, they said. Postponement is the most likely outcome, some of the people said.”

SAUDI ARABIA POSTPONES FII INVESTMENT EVENT TO 2027

Major airports, including Riyadh’s international airport, remain shuttered after several attacks out of Yemen, and as the war there grinds on. A series of events have been canceled or delayed which were to be hosted in the kingdom, which we’ve outlined below.

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Houthi ballistic missile attacks on Saudi Arabia have become almost daily at this point, and appear aimed at causing maximal economic and security pain for the kingdom.

Riyadh’s international airport has remained closed, as have some other regional hubs that were targeted this month, and flight suspensions to and from Europe and internationally have had a domino effect, impacting the ability of Saudi Arabia to host major events.

The kingdom has as a result been forced to cancel or postpone a series of international high profile and high dollar events, also as air defenses appear to be failing to detect inbound missiles over the vast desert expanse.

Strikes out of Yemen on Saudi territory have killed at least 20 people and injured almost 400, stretching back to Oct. 6.

Middle East-focused news source Al Monitor writes, “The disruption has hit some of Saudi Arabia’s flagship events across sectors central to its Vision 2030 program, which aims to diversify the economy away from oil.”

Citing the same report, DropSite News has issued the following list of events that Saudi authorities have canceled or postponed due to the escalation with the Houthis…

The events which have been derailed by the conflict include the following:

EU-Gulf summit: The Oct. 24 summit in Riyadh, which all 27 EU leaders were due to attend, was postponed Thursday with no new date.

FIFAe Finals: The esports tournament set for Oct. 16-25 in Jeddah was postponed. Brazil and Japan had already pulled their teams over security concerns.

Six Kings Slam: The tennis exhibition, due to feature Novak Djokovic and Carlos Alcaraz, was pushed from Oct. 21-24 to Dec. 27-30.

Rally Saudi Arabia: The final round of the World Rally Championship was canceled in September over “ongoing regional developments” and moved to Sardinia.

Red Sea International Film Festival: The December festival was postponed to late 2027.

Joy Awards: Saudi Arabia’s answer to the Oscars and Grammys, set for January, was postponed amid financial strain and the Iran war, Reuters reported.

Soundstorm: The electronic music festival was canceled. Its organizer gave no reason and said it will return in 2027.

Esports World Cup: The tournament was moved from Riyadh to Paris in August.

World Petroleum Council congress: Executives from BP, Chevron, Shell and TotalEnergies couldn’t attend this week’s event in Riyadh because of travel disruptions.

Future Investment Initiative: The “Davos in the Desert” summit, still set for Oct. 26-29, is moving to a hybrid format so executives can join remotely, Reuters reported.

AFC Asian Cup: The January 2027 tournament is still on, but the confederation’s president said it could be pushed back to 2028.

2034 World Cup: Saudi Arabia’s sovereign wealth fund plans to drop five proposed new stadiums, Semafor reported.

Federico Borsari, a defense expert at the Centre for European Policy Analysis (Cepa), separately commented that the Houthi arsenal has “further expanded to include increasingly sophisticated ballistic and cruise missiles built with Iranian help.”

Saudi Arabia’s PIF is preparing to drop five proposed stadiums from its 2034 World Cup plans as funding constraints, stalled mega-projects and renewed security pressures force spending cuts, Semafor reported. https://t.co/YePV2p7gEi

— Al Mayadeen English (@MayadeenEnglish) October 15, 2026

He said the timing this month of ramped up Houthi attacks appears consistent with “deliberate escalation intended to impose economic and political costs” on Saudi Arabia, amid the ground fighting in Yemen.

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Formula 1 races in doubt?…

🚨 F1 intends to keep the Qatar and Abu Dhabi GPs on the calendar until the last possible moment despite rising tensions in the Middle East. 🇮🇹 Meanwhile, Imola is reportedly installing grandstands after being told by FOM to prepare to host a race on December 6 if Abu Dhabi is cancelled. F1 would reportedly cover the organizational costs even if the replacement race never takes place. (via. @Motorsport_IT) #F1

— Everything Formula (@evrythngformu1a) October 15, 2026