The aim of this study is to analyze the impact of COVID-19 on tourism safety perceptions, acceptance of restrictions, and the intention to change behavior during the COVID-19 pandemic among young people. Taking Egypt as a case study, a total of 386 respondents were surveyed in two different pandemic periods, with data being collected during the first wave, in April and May 2020, and during the second wave, in December 2020 and January 2021. Data was analyzed using partial least squares structural equation modelling (PLS-SEM) with multigroup analysis (MGA). Results reveal significant differences between the first and the second coronavirus waves regarding the effects of perceived risk. Findings point to the heightened potential of the youth market segment in the current context and suggest that youngsters’ adaptive coping responses evolved towards self-regulatory behavior. Based on the results, theoretical and practical implications are drawn. Conceptually, the study has contributed to the clarification of the desensitization process experienced by youth over time, in the post-pandemic tourism context. Additionally, the activities’ safety perceptions being examined per se enlightened the relationship between risk susceptibility, safety perceptions, and coping attitudes and behavior. Findings suggest that special attention should be paid to crowded group settings, such as youth events, advising that authorities and tourism services should target their communication to different population segments and use appropriate safety messaging according to the evolution of health crises.