Tourism to Russia could be hit by terrorist attacks and the revolution in Ukraine, according to market research company Euromonitor International.
The company told a WTM Vision Moscow conference that the events could impact on inbound tourism which the research showed grew at a rate of 13 percent in both 2012 and 2013.
Vitalij Vladykin, a senior research analyst at Euromonitor, said that global arrivals grew again in 2013 at a rate of 4 percent, reaching record numbers of over one billion world-wide.
Russia's outbound tourism continues to show a stronger performance than inbound with the hope the Winter Olympics in Sochi and the FIFA World Cup in 2018 will raise the country's profile to boost visitor arrivals.
Russia's domestic tourism is growing and is expected to show strong compound annual growth rate of over 10 percent for many regions during 2013 to 2018.
The Volgograd Region is one of the top destinations for expected growth due to rail connections from Moscow and St Petersburg, but this may change after two suicide bombings in December 2013.
Terrorist attacks and the revolution in Ukraine have the potential to inhibit the positive growth experience by Russian domestic and international demand, Euromonitor said.