Davos in the Desert: There are concerns over who will attend and who will withdraw from the Future Investment Initiative, which begins in Riyadh next week.

Will CEOs risk traveling to Saudi Arabia?

Top C.E.O.s are debating whether to attend the Future Investment Initiative, the prestigious conference in Saudi Arabia known as “Davos in the desert,” as President Biden prepares to visit Israel on Wednesday and diplomats work to ease a growing humanitarian catastrophe in the Gaza Strip.

The yearly event, which will begin on October 24, aims to highlight Mohammed bin Salman, the Saudi crown prince, and his influence on major players in the world of business. But making the decision to go or stay seems anything but simple.

‘Davos in the desert’, a Middle Eastern investment conference, is drawing such a large crowd that entrance is priced at $15,000 per person.

• The cost to attend an investment conference in Riyadh next month is $15,000 per delegate.
• Many people want a piece of the Middle East’s billion-dollar oil pie.
• The conference is generating increasing interest, which highlights Saudi Arabia’s expanding worldwide prominence.

Future Investment Initiative

The Future Investment Initiative (FII), a Middle Eastern business conference dubbed “Davos in the desert,” is in such high demand that attendees must pay $15,000 to participate, according to The Wall Street Journal.

The seventh edition of the event is taking place from October 24 to 26 in Riyadh, the capital of Saudi Arabia. According to the FII, hundreds of speakers are slated to provide sessions aimed at assisting attendees in creating “new strategies for understanding the greatest challenges and opportunities of the new era.”

According to NPR, last year’s event attracted top brass from companies like Goldman Sachs, Blackstone, Bridgewater Associates, and BlackRock, as well as FTX’s Sam Bankman-Fried and Jared Kushner, and is the largest investment and business conference in the Middle East.

Five years ago, many western executives avoided the event in the wake of the murder of Saudi journalist Jamal Khashoggi at the country’s consulate in Istanbul.

Despite ongoing allegations of human rights violations in the region, the conference’s popularity demonstrates that many people are willing to ignore them.

That’s partially due to the decline in agreements that followed significant increases in interest rates in the US and abroad during the past 18 months, which sparked a resurgence of interest in the Middle East’s abundant oil supply.

Saudi Business Council

The gathering serves as both a discussion venue and a catalyst for Saudi investment potential. According to the US-Saudi Business Council, more than 28 investment agreements totaling more than $9 billion were struck at the conference the year before.

This year’s meeting, which costs $15,000 annually and is solely accessible to FII Institute members and strategic partners, is a first. However, it is still anticipating 5,000 delegates.

The event also advances Saudi Arabia’s ambitious ambitions, which are in line with Crown Prince Mohammed bin Salman’s Vision 2030, to diversify its economy and strengthen the nation. The kingdom has spent billions thanks to his policy on technology, entertainment, and sports.

According to the event guide, this year’s theme, The New Compass, represents the Saudis’ vision of a new world order in which “century-old economic models start to unravel while new systems and frameworks begin to take shape.”

Although the FII does not yet garner the same interest as the Davos summit, the demand for this year’s event highlights the growing interest in Saudi Arabia among international audiences.

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