Recession or not, don’t write off strong pent up demand. There is very strong evidence that in the financial crash of the late 00’s, people were ring fencing money for holidays.
There may be cuts to how much they will splash out, and a pragmatic review of where they go along with some cut back on those very discretionary weekend breaks and stag do’s etc but ultimately, the traditional holiday destinations in the Med and Canaries will be booming next summer, Covid permitting.