Following a series of deadly Houthi attacks, Saudi authorities faced a difficult weekend decision: move the kingdom’s premier investment conference to an online format and risk diluting something that had become a showcase for Crown Prince Mohammed bin Salman, or postpone it entirely.
The dilemma underscored how important the Future Investment Initiative had become to the kingdom’s efforts to attract the global financial system. The question was whether a virtual gathering could provide the dealmaking and high-level networking that helped the FII generate deals above US$50 billion just last year.
Over 24 intense hours, the answer became clear. On Sunday (18), organizers signaled a shift to a hybrid or virtual format. By Monday (19), it was evident the conference could not take place in person, and around 6 p.m. local time, organizers confirmed that it would be postponed to 2027.
The annual event was slated to begin on October 26 and would feature participants such as Jane Fraser, CEO of Citigroup, David Solomon of Goldman Sachs, and Larry Fink of BlackRock.
Even just the opening panels from last year brought together executives from the financial and technology sectors who led companies with a combined market value of almost US$3 trillion. These companies are essential to the crown prince’s efforts to diversify the Saudi economy.
The conference has the Saudi sovereign wealth fund of US$905 billion as a founding partner and is overseen, ultimately, by the country’s de facto ruler, meaning that the final decisions involve the highest echelons of Saudi leadership. What was at stake was not only the format, but whether the event could deliver what organizers and participants expected.
That assessment ultimately sealed the decision. In a brief statement announcing the postponement, authorities said they wanted the commemorative edition to deliver the full scale, quality and impact that speakers and participants had begun to expect.
“A decade of partnership and shared vision deserves nothing less than our absolute best,” said Maha bint Mishari Al Saud, CEO of the FII Institute, the event’s organizer, in a statement.
Even as news of the postponement surfaced, the security risks facing Saudi Arabia were evident, with air-raid sirens sounding in Riyadh. King Khalid International Airport restricted flights for an indefinite period, effectively limiting the kingdom’s main air entry point.
The Houthis, part of the so-called Tehran-backed Axis of Resistance, have been in conflict with Riyadh long before the start of the war with Iran, in February. They intensified attacks in October after Saudi-backed Yemeni forces launched an offensive to retake areas controlled by the Houthis.
Since then, several governments have added travel restrictions, meaning many participants would need to consider alternate routes to reach Riyadh, including flying to Doha or Bahrain and driving more than five hours to the Saudi capital. From Dubai or Abu Dhabi, the journey would take at least ten hours.
That raised concerns among executives at some of Wall Street’s biggest firms. Even before the war began, some already questioned whether there was enough money to be made in Saudi Arabia. Many were reluctant to forgo participation, wary of jeopardizing ties with a country that, despite the difficulties, still has the capacity to execute multibillion-dollar deals.
Other business and entertainment events in Saudi Arabia were also affected by the Houthi attacks, including a summit between the European Union and the Gulf Cooperation Council, the inaugural edition of the MIPIM Middle East real estate event, and the tennis tournament “Six Kings Slam.”
The Capital Markets Forum Select, in London, organized by the Saudi and London stock exchanges, was also postponed due to air travel restrictions, according to a person familiar with the matter, underscoring that the disruption is spreading beyond the kingdom’s borders.
The FII Institute said its flagship gathering was postponed to an as-yet-undetermined date in 2027, when it will have to fit into an already crowded international calendar. In addition to the Riyadh event, the FII organizes summits around the world, including in Miami, where the U.S. president Donald Trump has delivered special speeches.
Nevertheless, Riyadh’s decision to postpone the FII underscores the authorities’ willingness to make hard calls, as demonstrated by the ability to redirect priorities of projects like Neom toward sectors such as artificial intelligence. At the same time, analysts say the war’s effects are likely to undermine the kingdom’s attractiveness.
“I think Saudi Arabia has been harmed by this conflict with the Houthis,” said Matthew Mullman, senior global macro strategist at Signum Global Advisors, to Bloomberg Television on Monday. According to him, companies may now question the viability of building critical infrastructure in the kingdom.
“The image of Saudi Arabia as the Gulf’s premier investment destination has taken a hit.”
© 2026 Bloomberg L.P.
