Is now the time to visit Russia?

However, recent events in Ukraine and the Crimean region have dealt a blow to this popularity, and could spell further trouble for Russia’s tourism industry in 2015.

Ironically, with the ruble taking a significant hit after the West slapped sanctions on Moscow following the annexation of Crimea and tensions in eastern Ukraine, there’s seldom been a cheaper time to go for visitors from many countries.

But will they go? And, crucially, should they?

Indications so far suggest that 2015 will be another tough year for the Russian tourism industry.

In the past, Russia’s biggest source of visitors has been former Soviet states — chiefly Ukraine.

“Ukraine is by far Russia’s largest foreign market. Last year, tourism from that country into Russia plunged 43%,” says Gillian Kennedy, an analyst for the London-based Travel & Tourism Intelligence Centre.

It’s a situation mirrored across other former Eastern Bloc countries.

“Traditionally, these visitors have traveled to Russia by road, which is a cheaper route than flying. But many roads to Russia from Eastern Europe go through Ukraine, which were shut down because of the conflict.”

Those groups are needed to fill the empty rooms left by the decline of Ukrainian vacationers, who previously made up 70% of Crimea’s tourism market, according to Kennedy.

Fueled by marketing efforts, easing of visa restrictions, and by the increased buying power of the yuan versus the ruble, business from China is expected to be up at least 10% in 2015.

If Westerners do venture to Russia this year, they may discover that it’s actually a good time to go.

Although Viking Cruises has dry docked a portion of its Russian fleet, Richard Marnell, senior vice president of marketing, points out that “2015 may actually be the best time to visit Russia. It certainly won’t be as crowded, and prices are down due to shrinking demand and favorable exchange rates against the ruble.”

Lernidee’s Willeke agrees.

“What many do not see in this context is that there couldn’t be a better time to visit. People are friendlier than ever before, the cost for restaurants, theater visits, souvenirs, yes, even hotel overnights, are significantly lower, plus … no queuing at the St. Petersburg Hermitage.”

Laura Powell is a Washington, DC-based travel journalist. Twitter: @dailysuitcase.com | www.dailysuitcase.com

CNN