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Yeah there has been some of that for sure.I'm not so sure - i think they spent all their money on houses, utes and jetskis.
A family member owns a kitchen business and he’s had a boom 18 months from those spending their holiday money on renovations but there’s still plenty of people keen on re-uniting with family/friends overseas as well as business travellers, students and inbound traffic to Australia. I don’t see a long ramp to get the industry moving again. Airlines are planning for and investing in the future. Qantas will have Project Sunrise back on the table before the end of 2021 for a 2024 start and I will be first in line to fly Sydney-New York non-stop and avoid the mortuary that is LAX. Actually, not that JFK is much better but the city is WAY better.