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Fidelity said the fact the majority of Asian governments' stimulus packages were aimed at infrastructure development would contribute to the rapid rise of the consumer and middle classes and strengthen the long-term outlook for equities.

Catherine Yeung, associate director for Asia Pacific ex Japan equities at Fidelity, said while Asian countries had not been shielded from the global downturn, the announcement of $870bn (£538bn) in stimulus packages towards the end of last year meant Asia still offered attractive opportunities as money was ploughed into rebuilding and rejuvenating the region.

"The infrastructure developments are an encouraging step forward," she said.

"It is thought roughly 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."

Ms Yeung said Asia offered investors solid growth "versus almost any other region" in the world.