Turkey's indebted tourism industry hit hard by terror attacks


TOURIST arrivals to Turkey fell by 10 per cent last month compared with February 2015, a blow to an industry that owes US$17 billion to the country's banks.

The drop in arrivals, the biggest in a decade, marked a record seventh consecutive month of declines as terror attacks which have been striking Turkish cities since last summer begin to weigh on the economy.

In response, hotels are slashing prices, a sign of strain in an industry that doesn't just account for 5 per cent of gross domestic...

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