At the very least a 3 1/2 to 4" blade, fixed or folder. It's the knife you keep sharp and don't destroy by hacking up the environment. It's the real camp knife.
Machete or hawk, depends on the latitude and vegetation. Machetes have kept their reputation in the tropics because it's largely third world and they are still needed. In northern latitudes, there's much more technological advancement. You have to look back one hundred and fifty years or more to see what was preferred. That was the axe, hatchet, and hawk.
A machete is good with soft fast growing vegetation, but to tackle the forests of Europe or North America, it takes something that can chop away at tough, fibrous and woody brush that can survive subfreezing temperatures and hot dry summers.
Choose what matches the task. The well equipped outdoorsman from most regions didn't make a choice of "either," it's usually "all of the above."