Saudi Arabia is preparing to shift its flagship investment gathering to a hybrid format, allowing international executives to participate virtually as security concerns mount following deadly weekend attacks on Riyadh airport.
The change would give delegates greater flexibility over travel while enabling the kingdom to proceed with the 10th edition of the Future Investment Initiative (FII), scheduled for later this month, according to two people familiar with the plans.
Some attendees are still expected to make the journey to Riyadh. However, alternative travel arrangements are being considered, including flights to airstrips outside the capital or airports in neighbouring Gulf countries, followed by road transfers into the city, one source said.
Saudi authorities have yet to publicly confirm the proposed changes. The government’s media office did not immediately respond to a request for comment.
Earlier this month, event organisers maintained that the conference would proceed despite missile attacks targeting the kingdom. Before Saturday’s latest attacks, FII Institute leadership had also stressed that delegate safety would remain a central priority.
In a statement issued ahead of the weekend violence, CEO Maha Al Saud and executive committee chairman Richard Attias said the organisation was preparing to welcome thousands of participants to Riyadh for the milestone edition.
Oil industry withdrawals raise questions over attendance
The security situation is already affecting participation. Several prominent oil industry executives withdrew from an international conference on Monday, adding to uncertainty surrounding the gathering’s high-profile guest list.
A hybrid arrangement could help organisers retain participants who are reluctant to travel while preserving the event’s international reach.
The developments come as Saudi Arabia faces mounting pressure to sustain its ambitions of becoming a major destination for global business and investment. The kingdom has invested heavily in economic diversification, seeking to reduce its dependence on oil revenues and attract international capital.
The Future Investment Initiative has become a key part of that strategy, bringing together political leaders, financial institutions, corporate executives and major investors. Its scale and influence have earned it the nickname “Davos in the Desert,” a reference to the World Economic Forum’s annual meeting in Switzerland.
Global finance leaders face uncertainty over Riyadh trip
The draft programme published on the FII website on October 6 listed several prominent financial industry figures among the scheduled speakers. They included Goldman Sachs chairman and CEO David Solomon, Standard Chartered CEO Bill Winters and Citi CEO Jane Fraser.
Goldman Sachs and Citi declined to comment on whether their respective executives would attend, while Standard Chartered did not immediately provide a response.
The summit is scheduled to take place at the King Abdulaziz International Conference Centre on the western outskirts of Riyadh.
For Saudi Arabia, the immediate challenge is to keep one of its most important international business events on track while addressing the security risks that could disrupt travel and dampen participation. A hybrid format would offer a possible compromise, allowing the kingdom to maintain its investment pitch even as uncertainty surrounds the arrival of global business leaders.
