South Africa’s business confidence index has rebounded, reflecting improving demand and a sustained recovery in tourism after volatility. More international arrivals—helped by seasonal travel and a weaker rand—are lifting transport, hospitality and other consumer-facing services, with firms reporting stronger forward orders and better cash-flow expectations. While the rand still reacts to US policy moves, lower global borrowing costs could support inflows. Continued Treasury reforms and clearer policy should bolster investor sentiment, with positive spillovers across Southern Africa.