(March 27): A growing number of state-backed conferences across key Middle Eastern hubs are being postponed as Iranian attacks on Gulf countries disrupt travel and raise security concerns.
Saudi Arabia’s Capital Markets Forum in Riyadh, an initiative aimed at deepening the kingdom’s capital markets, has been delayed by a year. Originally scheduled for April, the forum will now take place in March 2027, according to organisers. The kingdom hosted a forum in New York last month and similar events in Hong Kong as part of its broader push to position Riyadh as a global stock exchange.
That came shortly after the Dubai Financial Market (DFM) postponed its own capital markets event, originally planned for May, to December this year. Both bourses have emerged as listing hubs since the pandemic, driven by government privatisation programmes and efforts to encourage private companies to go public, although share sale volumes had softened even before the war began.
The debut edition of the region’s newest high-profile event, Dubai Future Finance Week, has also been pushed to November from May. Dubai’s answer to regional heavyweight conferences like Riyadh’s Future Investment Initiative, the event was unveiled last year and prominent global names were expected to attend.
Organisers of the Saudi event didn’t respond to a request for comment sent on Friday, the start of the kingdom’s weekend, while representatives for DFM declined to comment. In response to Bloomberg News’ queries, the organisers of Dubai Future Finance Week said the event was moved to November to align with other international forums and local venue availability.
The disruption extends beyond finance. Events such as TOKEN2049 Dubai, a major cryptocurrency conference, have been postponed, while others across sectors — from energy to marketing — have been delayed or cancelled in recent weeks as flight disruptions and security concerns weigh on attendance.
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That adds to the growing costs of the war for the oil-rich countries that have faced daily missile and drone attacks from Tehran for close to a month.
The events industry has become a key pillar of economic strategy for Gulf capitals, which are seeking to diversify away from oil by positioning themselves as global hubs for business, finance and tourism. Large-scale conferences play a critical role in attracting foreign investments, showcasing domestic reforms and boosting the domestic hospitality sector.
The industry’s importance is also reflected in capital markets activity. At least two events businesses linked to the region are exploring initial public offerings, including the organiser of the Future Investment Initiative, which draws Wall Street heavyweights to Riyadh each year, Bloomberg News has reported.
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The FII’s Miami edition is taking place this week, featuring US President Donald Trump as a headline speaker, alongside prominent Gulf names including Yasir Al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund.
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