I agree Fuji, though I would say that leisure activity budgets fluctuate wildly according to how well people feel about their financial security generally, and right now (property values declining, etc) not many people do fell all that well about theirs.
Give it a few years and things could well be very different.
Look at the absolutely massive downturn in GA in the 1970s. Activity went down by (of the order of) 5 to 10 times in the USA and elsewhere - as did new aircraft sales.
Today's decline is nothing compared to that.