Will people want to go and travel? And let's look to short term vacation rental - the industry is definitely one of the hardest hit by the pandemic.
Will people want to go to restaurants? Will they even think, you know, international vacation is an appropriate thing? So, even once the government is saying these activities are OK, we can't expect the demand side to re-emerge overnight.
There are a few things, vacation and recreational trips, that I doubt will ever go back, I mean, there will still be vacation trips, but you know, less.
When it comes to hospitality and short term vacation rental it will take much longer to recover.