Online Reporter
Business Reporter
ZIMBABWE’S economy has shown resilience despite mounting global uncertainty, with tourism recovery, policy discipline and improving macro-economic stability helping cushion the country against rising external shocks, according to the stockbroking firm FBC Securities.
In its latest economic snapshot, FBC Securities said Zimbabwe entered the second quarter of the year on a stronger economic footing than at any stage in recent decades, supported by single-digit inflation, improved fiscal discipline, stronger foreign currency inflows and relative exchange rate stability.
The research said the economy’s improved fundamentals were becoming increasingly important as geopolitical tensions in the Middle East continue disrupting global energy markets and international supply chains.
“Zimbabwe now has its strongest macroeconomic foundations in a generation, yet those foundations are being tested by one of the most fragile global environments since the pandemic era,” the report said.
FBC Securities said one of the sectors demonstrating resilience is tourism, which recorded strong first-quarter growth before international geopolitical tensions began affecting global travel demand in March.
According to the report, international tourist arrivals increased 11 percent year-on-year to approximately 384 561 during the first quarter, while tourism receipts rose 14 percent to around US$251 million.
Domestic tourism also strengthened significantly, with local trips rising from roughly 1,94 million to 2,62 million.
The securities research firm said official figures reflected continued confidence in Zimbabwe as a premier tourism destination, while the growth in domestic tourism was helping create a more balanced and resilient industry.
