Forget the bank of mum & dad: how the bank of grandma is helping fund holidays

Multigenerational holidays are becoming ever-more popular, but new data about who is footing the bill shows an interesting trend…

Going on holiday with the whole family – the kids and grandchildren included – can be a truly rewarding break. Quality family time and shared responsibilities make it a wonderful way to see the world and get some downtime all at once.

But new data from Travelzoo has revealed that it’s the grandparents who are booking these trips, with 40% of respondents in their survey saying that it was the older generation who did the leg work. Not only are grandma and grandad dealing with the logistics, but they’re also footing the bill, says Travelzoo. Around 34% of respondents said the grandparents paid for everyone, while just 13% of parents splashed the cash.

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"It’s interesting to see that it is the grandparents who are pushing for the multi-generational holidays, both in a financial and emotional sense,” says James Clarke, General Manager at Travelzoo UK.

“As our lives become busier and it becomes more difficult for families to spend quality time together, big family holidays across the generations become more and more important. It really does show that travel doesn’t have age limits, and a love of travel can be discovered at any time.”

The multigenerational holiday trend isn’t just a fad, either – 37% of those surveyed said they would be booking another multigenerational trip next year.

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The data also shows grandparents are being more adventurous with their trips, too – over a quarter said exploring new places was their favourite multigenerational activity, closely followed by eating together.

Top tips for successful multigenerational holidays

Almost anywhere can make a great multigenerational holiday, so long as there are child-friendly activities to keep the kids entertained when the adults need a rest. To keep costs down, try doing a self-catering staycation (we've got 25 ideas here) – you won’t have to shell out for flights for the whole family, and the option to cook for yourselves will mean meals won’t break the bank.

If you do go self-catering, though, do dine out one or two nights – you don’t want to be stuck doing the washing up every day, it’s a holiday after all.

Cruises can make fantastic multigenerational holidays abroad, with plenty of activites on board the ship for all ages, and the option to come together as a whole family when it suits you best. Plus, you’ll see lots of different destinations all in one trip – a brilliant way for the kids to learn about different cultures.

Try the Canary Islands for year-round sunshine, or for a serious adventure, explore Iceland’s craggy coastline and volcanic interior.

Whatever you choose for your multigenerational holiday, just be sure to establish who’s paying before you book!