In the 1960s and 1970s, Kuwait was the most developed country in the region. Kuwait was the pioneer in the Middle East in diversifying its earnings away from oil exports. The Kuwait Investment Authority is the world's first sovereign wealth fund. From the 1970s onward, Kuwait scored highest of all Arab countries on the Human Development Index. Kuwait University was established in 1966. Kuwait's theatre industry was well-known throughout the Arab world. In the 1960s and 1970s, Kuwait's press was described as one of the freest in the world. Kuwait was the pioneer in the literary renaissance in the Arab region. In 1958, ''Al Arabi'' magazine was first published, the magazine went on to become the most popular magazine in the Arab world. Many Arab writers moved to Kuwait for freedom of expression because Kuwait had greater freedom of expression than elsewhere in the Arab world. Kuwait was a haven for writers and journalists from all parts of the Middle East. The Iraqi poet Ahmed Matar left Iraq in the 1970s to take refuge in the more liberal environment of Kuwait.