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This study examines the relationship between perceived impacts of COVID-19, risk perceptions, emotions, and travel intentions within selected higher education institutions of the Macau Special Administrative Region (SAR). The paper argues that hospitality and tourism recovery strategies should focus on specific internal market segments by understanding their cognitive appraisal of the current situation, their emotional state, and possible responses to future travel. Through an online survey, data were gathered using convenience sampling of 412 respondents comprising students and workers of three Macau Higher Educational Institutionswhich form a segment of Macau's domestic tourism market. The results indicate that a high perceived risk of travelling during COVID-19 has increased negative emotions and reduced intentions to travel. Nonetheless, most students and workers of these institutions in Macau do not feel vulnerable to the virus due to the stringent health and policy measures in place. As government strict measures 'protect' internal customers within the city but 'paralyse' travel outside the city, promoting domestic travel becomes a practical way to reset tourism but would require understanding the perceptions and risk concerns of specific market segments.