Singapore tops the Asian ranking in The Global Competitiveness Report 2008-2009 conducted by the World Economic Forum (and partners) using both publicly available data and the Executive Opinion Survey.
The annual report assesses the ability of countries to provide high levels of prosperity to their citizens, which in turn depends on how productively a country uses available resources. Thus, the index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity.
The top 10 overall ranking are USA, Switzerland, Denmark, Sweden, Singapore, Finland, Germany, Japan and Canada.
The top 10 Asian economic entities are Singapore, Japan, Hong Kong, South Korea, Taiwan, Malaysia, Qatar, Saudi Arabia, China and UAE.