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Asian governments announced an £530bn stimulus package towards the end of last year, with China alone earmarking £356bn.

Catherine Yeung, associate director of Asia Pacific excluding Japan equities for Fidelity, said 60 per cent of the packages would be channelled into infrastructure development.

She said: "The infrastructure developments are an encouraging step. It is thought that some 3.8bn people could benefit from planned urbanisation whether it is better transport links or the creation of new jobs.

"In return, the region will see the rise of the consumer and growth of the middle class."

She said while the drop in exports stemming from the fall in OECD consumption, along with unemployment, had dampened growth prospects, the region's fundamentals were still strong in the long term.

She pointed to a sharp rise in Chinese retail sales and the absence of debt that Chinese consumers have compared with their American and the British counterparts.

Ms Yeung said: "Although global momentum has slowed over the past year, in absolute terms, Asia still offers a very attractive investment opportunity as money is ploughed into rebuilding and rejuvenating the region."

Adrian Lowcock, senior investment adviser of London-based IFA Bestinvest, said: "The main things about Asia are one they do not have the bank problems and two they have money.

"Asia is in a better position for a strong economic recovery than the West at the moment. The stimulus package in China is phenomenal."