Saudi Arabia plans to make its flagship Future Investment Initiative a hybrid event, allowing executives and other participants to attend remotely following deadly attacks on Riyadh airport, according to people familiar with the matter.
The investment conference, scheduled for later this month, is expected to retain an in person component. Some delegates may travel to airports outside Riyadh or land in neighbouring Gulf countries before continuing by road to the Saudi capital.
The change reflects growing concerns about travel to Riyadh after missile and drone attacks targeted the kingdom over the weekend.
Saudi authorities had earlier said the Future Investment Initiative would proceed despite the attacks. The Saudi government did not immediately comment on the planned hybrid format.
The event, often referred to as “Davos in the Desert”, is a major platform for Saudi Arabia to promote its economic diversification plans and attract international investment as it seeks to reduce its dependence on oil.
The security situation has already affected other major events in the kingdom. Several senior oil executives withdrew from an international conference in Riyadh on Monday, while organisers in the capital also cancelled this year’s Misk Global Forum, citing organisational and logistical challenges.
The Future Investment Initiative is expected to attract thousands of delegates, including government officials, investors and senior business executives. The draft programme listed Goldman Sachs chief executive David Solomon, Standard Chartered chief executive Bill Winters and Citi chief executive Jane Fraser among the scheduled speakers.
The conference is due to take place at the King Abdulaziz International Conference Centre in Riyadh.
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