Saudi Investment Summit Delayed as Houthi Strikes Disrupt Region

Saudi Arabia has pushed back its major investment conference, known as the Future Investment Initiative, to 2027. The event was meant to take place in Riyadh from October 26 to 29 this year. Organizers said the move ensures the tenth edition can deliver the quality and impact expected by partners and speakers.

The decision comes after a wave of attacks by Yemen’s Houthi rebels. These strikes hit targets in Riyadh, including the international airport. The airport shut down for a week, reopening only on Sunday. At least 17 people died and over 300 were injured in the attacks.

Flight chaos continued even after the airport reopened. On Monday, about 108 flights were canceled, making up 18% of all scheduled services, according to Flightradar24. The busiest airport in Jeddah also saw major delays and cancellations during the same period.

The summit is a key tool for Saudi Arabia’s Vision 2030 plan. It aims to attract foreign investment and boost sectors like tourism and technology. Big names like BlackRock’s Larry Fink and JPMorgan’s Jamie Dimon were set to speak. The event is backed by the kingdom’s sovereign wealth fund.

Tensions remain high across the region. U.S. embassies in the Gulf, Israel, Iraq, Lebanon, and Jordan warned Americans to stay alert. They advised checking flight updates and preparing for possible travel disruptions. In Yemen, fighting continues. On Monday, Houthi attacks killed at least 18 people at a security training camp in Shabwa province.

A separate incident added to the unease. An Austrian Airlines flight from Tel Aviv to Vienna diverted to Sofia after a bomb threat. Bulgarian jets were scrambled, but no danger was found. The plane later resumed its journey to Vienna.