The region outperformed every other local authority area in the country in the Prosperity Index, a rating system devised by the right-wing Legatum Institute.
Aberdeenshire and East Dunbartonshire came second and third in the index, followed by Na h-Eileanan Siar, the Orkney Islands, and Aberdeen.
The weakest performing council area, according to the think tank, was Glasgow, followed by West Dunbartonshire, Dundee City, North Lanarkshire, Clackmannanshire, and East Ayrshire.
Legatum described the index as a “comprehensive assessment of institutional, economic and social wellbeing” across local authorities.
On a UK level, it rated Scotland as the 11th most prosperous area.
Professor Matthew Goodwin, director of the institute’s centre for UK prosperity, said: “The prosperity index is the most ambitious assessment of prosperity across the country to date. With detailed data on all boroughs and council areas, it is a transformational tool that can help policy makers and influencers target their interventions more effectively on the journey towards greater prosperity.
"The holistic and rigorous approach we have taken has allowed us to identify issues that have previously been missed in the discussion about how to level-up the country.”
He added: "While Scotland performs well on the safety of local communities and the natural environment, we also need to invest in areas such as governance, education, and the investment environment for businesses if we are to see all citizens, neighbourhoods, and communities reach their full potential.”