A Bloomberg survey of financial professionals has revealed Europe as investors' favourite destination, beating the US for the first time since November 2010.
In the survey of traders, analysts, money managers and executives, 35% of respondents said the eurozone would offer investors the best opportunities over the next 12 months. In a similar survey conducted in January, the eurozone was favoured by 19% of respondents.
The US came at number two with a 33% share, while China, which had been a favourite of investors in 2010, is now viewed as one of the worst markets to invest in.
While 14% of respondents favoured China, it fell below neighbour India that secured 27% votes.
Investors' preference for Europe comes despite the economic troubles related to the possible exit of Greece from the single-currency union.
"Europe's economy is improving, off an admittedly low base," John Carlson, a poll participant and president of Epic Investment Management in Boulder, Colorado, said.
"Also, Europe's stock market has been strong, and that market probably has more predictive power than people recognise."
Earlier in April, the International Monetary Fund raised its forecast for the region's 2015 economic growth to 1.5% from 1.2%, suggesting a weaker euro and lower oil prices would boost its output.
The European Central Bank in March launched a €1.1tn (£786bn, $1.2tn) quantitative easing programme to shore up the eurozone economy, boosting investors' morale about it. Reflecting the renewed optimism, the Euro Stoxx 50 Index has climbed 18% so far in 2015.
Meanwhile, investors were slightly less optimistic about the prospects of the US economy, given the harsh winter weather and a strong US dollar. Just over half described the world's largest economy as getting better, compared with more than three in five who said that in January.
Responding to the China situation, almost three in five said the economy is deteriorating, and only one in 10 said it is improving.
China's economy grew 7% in the first quarter from a year earlier, the slowest pace since 2009, and is expected to slow down further, primarily due to the weakness in the domestic economy.