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Tourism could also take a hit.

“Tourism is usually one of the first things affected,” she said.

But Ms. Freund also said that if the protests end soon, the economy should escape disaster.

The protests escalated Friday when police swooped into the square and started beating demonstrators conducting a peaceful sit-in to oppose plans from Turkish Prime Minister Recep Tayyip Erdogan to tear down a nearby spot of trees.

After police used water cannons and tear gas to control the crowds, sending thousands of protesters to the hospital, anti-government rallies have sprung up daily all around the country.

Organizers say they are committed to peaceful resistance.

“We are opposed to violence,” said Ecenur Bayindir, a student who joined in the original tree protests in Istanbul. “We just want peace, peace and happiness. We’re unarmed. We will continue to be unarmed. This is a civil resistance.”

Deputy Prime Minister Bulent Arinc apologized Tuesday for the aggressive police tactics.

“The excessive violence that was used in the first instance against those who were behaving with respect for the environment is wrong and unfair,” Mr. Arinc said, according to Reuters. “I apologize to those citizens.”

“But I don’t think we owe an apology to those who have caused damage in the streets and tried to prevent people’s freedom,” he added.