As we are on the edge of a huge worldwide recession that is claimed could be larger than the 2009 one, with rampant inflation and what else we have seen recently, I fear that if this does not start construction this year for a 2025 opening, there will be a very high chance of this project being postponed indefinitely.
You cannot forecast an economic downturn with financial/footfall numbers at Alton Towers. You're forgetting that the park has weathered many recessions, coincidentally including opening as a theme park in 1980.
Then Tussuads brought the park during the recession of the 90's, bringing in what many regard as the park's golden age shortly after.
Then lastly during the last recession, Merlin took control of the park and built Thirteen, attaining record levels of attendance. Alton Towers as a business is pretty good at weathering economic downturns. This is largely down to the reason that people prioritise domestic travel as opposed to international travel in recession.
However, the park has evidently gone through its own periods of recession in the history of the park, most notably in 2015/16. Not to mention the park seems to struggle when the park's owners become stagnant as a business (Broome and Battersea, Charterhouse/DIC Tussuads and Public Merlin).
The UK economy as a whole is set to snail on in stagnation with the economy set to grow at a decimal of percentage and cost pressures on take-home pay. It's evident the park may not be performing as it did in the 2021/22 seasons but it's still a safe bet that it'll return to those levels in a season or two.
I get the feeling there's a real sense of innovation of the company at the moment, which is exciting to see a more holistic perspective on the business than just looking at the most cost-effective option on a spreadsheet as they have in the past.