Fitch Solutions had also rated the UAE as the most attractive market for IT in the Middle East and Africa
The UAE improved its global ranking and maintained its top position in the Middle East among 115 countries to help digital companies thrive and traditional businesses harness the digital dividend.
According to the Euler Hermes Enabling Digitisation Index (EDI), the UAE's global ranking improved one place to 23rd as the emirate was only Arab country among the top 35 nations. Globally, the UAE is rated better place for digital companies such some major developed countries like Spain (24), Luxembourg (25), Italy (28) and Portugal (30) among others.
The study rated the UAE at number six along with Portugal, Poland, Slovenia, Iceland and Italy for untapped potential when technology companies' market cap is compared with the share of the GDP.
Fitch Solutions had also rated the UAE as the most attractive market for IT in the Middle East and Africa, thanks to its economic diversification as well as demand from the enterprises, retail and construction sectors ahead of Expo 2020.
Globally, the US, Germany, Denmark, Netherlands, Singapore, Switzerland, Japan, China and Sweden made the top nine of the 2019 edition of the Euler Hermes' EDI.
China made a booming entrance to the top 10 at 9th place, up from 17th place in 2018, thanks to its regulation score, as China made starting a business much easier and shorter (nine days) by removing lengthy procedures, reaching the level of high-income OECD countries.
India maintained its 44th place. "For India, the culprit is its low connectivity score, with fewer secure internet servers per hundred people than Bulgaria, Ukraine or Brazil. The use of the internet, albeit massive in absolute value, is still not widespread (35 per cent of the population against 48 per cent on average in the world)," Euler Hermes said in its latest report.
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