The Emirates has scored 68.4 points out of a potential 100 in the new regional index The UAE is the most attractive Information Technology market in the Middle East and Africa region, thanks to its economic diversification efforts, according to a new Fitch Solutions report. The UAE, second biggest economy in the Arab world, has scored 68.4 points out of a potential 100 points in a Fitch index. “The UAE’s IT market remains buoyed by economic diversification efforts mapped out in the country’s Vision 2021 strategy as well as with the demand from the enterprise, retail and construction sectors ahead of Expo 2020 Dubai,” said the report. Rising oil prices and ongoing economic diversification initiatives, pursued by regional governments, have supported the IT industry growth in MEA. Of the 12 markets surveyed, Kenya was least attractive market. The report added despite downward revisions to some markets' industry and country risk scores, the region's IT risk/reward index has remained relatively stable. Smart city initiatives in the region are attracting huge chunk of IT investments. Technology investments, related to smart city initiatives across MEA, is predicted to reach $2.7 billion in 2022, with Dubai and Riyadh leading the way, according to Massachusetts-based researcher International Data Corporation. “We remain positive about the market's growth trajectory, albeit from a low base, owing to IT service and hardware demand from public and private investment into sectors including power, energy and utilities,” said the Fitch report.