Tourists enjoy a beach in the Mediterranean resort city of Antalya, a popular destination for German tourists, in Turkey, July 25, 2016. REUTERS/Kaan Soyturk
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Anders Faergemann, a money manager at PineBridge Investments, which oversees more than $80 billion in assets, calls it the best potential boost for Turkey's economy. Considering the magnitude of the blow dealt to Turkey's tourism industry over the past two years, it's not hard to see why. Back-to-back political convulsions kept foreign visitors away and drove annual hard-currency inflows from foreign visitors to a decade-low $18.2 billion in March.So with a period of relative political stability and security returning, investors will be parsing tourism data for signs that cash is about to start flowing back in again. While year-on-year tourist arrivals have increased for five straight months, visitors from those two European countries are still down 30 percent in the January-to-August period compared to 2015, according to data from Turkey's Culture and Tourism ministry.
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