This research paper examined Chinese tourists’ perceived importance and performance risk in Thailand using an Importance-Performance Analysis (IPA). The factor analysis classified 24 risk attributes into 5 dimensions of risk: Social risk, Satisfaction risk, Service/performance risk, Physical risk, and Political/financial risk. The IPA grids illustrated that the Satisfaction risk fell into the Concentrate Here quadrant; Physical and Service/performance risks in the Keep Up the Good Work quadrant; Social risk in the Low Priority quadrant; and Political/financial risk in the Possible Overkill quadrant. Implications for tourism management, tourism planners and industry were discussed.