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It really depends on how long you plan to keep it paused. Generally speaking, pausing is a solid option if you have done substantial work on your site and do not want to lose it.
If I remember correctly if you close the store, Shopify does keep a backup for a short period of time, but there is no guarantee they will be able to recover it anytime past the time frame. In past they've kept backups for about 30 days.
I hope I've answered your question!
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IMO, not worth the risk if you have done substantial work. Pausing is usually the way to go you plan on coming back.