As Super-Rich Flee the Gulf, They Turn to Riyadh

Riyadh has abruptly morphed from a hard-to-access Gulf capital to the main escape hatch for the region's uber wealthy, reports Semafor. After Iranian missiles and drones struck Dubai, Abu Dhabi, Qatar, Bahrain, and Oman's port, private security firms began running convoys of SUVs on 10-hour drives from Dubai to Riyadh, with its King Khalid International Airport one of the few major hubs still operating. From there, private jets to Europe are going for as much as $350,000 as the super-rich flee their onetime playground, said Ameerh Naran, CEO of jet brokerage firm Vimana Private, with demand also pushing up prices for ground transport. "Saudi Arabia is the only real option for people who want to get out of the region right now," says Naran.

The shift marks a sharp reversal in how the Saudi capital is viewed. Once seen as riskier than its glitzier neighbors—thanks to past Houthi rocket fire, restrictive rules, and memories of earlier terror attacks—Riyadh is now drawing executives, high-net-worth travelers, and their families as a relative safe zone. Looser visa rules, including visas on arrival for many nationalities, have helped. While some schools have moved online and certain employers have suggested that staff work from home, daily life in Riyadh has mostly carried on as Iran's strikes hit elsewhere in the Gulf. It's not completely immune, however: The Wall Street Journal notes that Saudi Arabia said on Saturday it had intercepted a "cowardly" Iranian attack.