The Japanese economy faced its share of hurdles last year, including a historic plunge in the yen’s value against the U.S. dollar and decades-high inflation.

But the country also pushed to resume economic activities shut down by the COVID-19 pandemic, highlighted by a reopening of borders for inbound tourists for the first time in two years.

Although some major economies including the U.S. are expected to sink this year due to a series of rate hike campaigns to contain inflation, the outlook for the Japanese economy is looking quite positive, economists said.