The pandemic outbreak of COVID-19 in 2020 has profoundly affected the global leisure and tourism industry, with international travel bans affecting over 90% of the world’s population. Widespread restrictions on community mobility have resulted in a projected decline of international tourism arrivals up to 30%. The rapid development of Virtual Reality (VR) and its effectiveness in the simulation of real-life experiences provides an opportunity for virtual holiday making especially when actual travel is not possible. Based on a quantitative study with 193 participants, the role of VR as a substitute for physical travel during the pandemic outbreak of COVID-19 was examined, more specifically by looking at the relationship between perceived risk to travel and technological acceptance of VR. The findings suggest that tourists use VR as a travel substitute during and even after a pandemic. However, perceived risk does not play a significant role when it comes to using VR.