Second home tourism has been labelled the hidden giant of tourism. Still, little attention has been given to the impact of climate change and second homes. On the contrary, planning has neglected second homes and their users, who therefore often remain invisible in public statistics. After an overview of potential climate change induced risks for second home tourism, this chapter assesses the Swedish second home stock’s risk exposure. It is shown that second homes indeed concentrate on exposed localities such as mountain, riverine, and shoreline environments. Climate models also project dramatic change for northern environments, and thus, the presence of second homes needs to be recognised in planning to adapt to the risks of property damage as well as risks for its users.