The importance of perceived risk by tourists – while first studied in the broader context of general consumer behaviour (Bauer, 1960) - has been of ongoing interest to the tourism industry and research. The topic is of interest to tourism even in times when no major actual risks need to be feared given that the intangible nature of the tourism product brings uncertainty in the destination or vacation choice process. However, global political events such as terrorism attacks and the emergence of global epidemics have reignited awareness of the importance of risk perceptions, adding a new dimension to the potential consequences of not understanding what scares tourists. The relevance of the topic to the tourism industry is essentially driven by the fear of demand fluctuations due to unpredictable events that are beyond the control of tourism authorities and the industry. Consequently, it is important to gain in-depth understanding of concerns tourists have and the way they might react to different kinds of events in the course of a travel or destination choice process. Being aware of such aspects empowers tourism authorities and the industry to develop the right products, send the optimal communication messages and possibly target the most suitable market segments to assure continuing demand in future times of crisis.