Half of grandparents funding family holidays

New research from AllClear has revealed that over half of parents (56%) have received financial help from grandparents for family holidays, while 54% say they’ve even footed the entire bill. 

With the rising cost of living in the UK, grandparents appear to be playing a bigger role than ever before, with many stepping in to help fund holidays, as well as provide childcare. 

These new findings highlight a growing trend in multi-generational family holidays – and shed light on how holidays with the grandparents are not just about shared costs – but also about emotional connections, with three-quarters (74%) of parents wishing all the generations of their family spent more time together.  

The average UK parent said they would expect grandparents to contribute around 35% of the overall holiday costs if they were on a multi-generational holiday.  

However, nearly one-third of parents (30%) would expect the grandparents to cover more than half of the overall holiday costs, and one in 20 (5%) say they would pay the full holiday cost if they came.  

Despite many parents (55%) saying grandparents would offer to fund family holidays if they couldn’t afford it, AllClear’sresearch shows that multi-generational family holidays are about more than just finances.

Almost two-thirds (61%) of parents said they’ve also paid for grandparents to come on a family holiday with them in the past, with nearly three-quarters (74%) saying they wish all the generations of their family spent more time together.  
  
The research shows that parents in the UK actually prioritise the quality time multi-generational holidays bring over financial or childcare benefits. Despite over half of all parents (55%) having paid for their children’s grandparents to join them on holiday so they could help with childcare, this is actually theleast common motivation, with just 15% citing it as a main reason. 

In fact, most parents (60%) rank ‘enjoying quality time together as a family’ as the main motivation for going abroad with the grandparents. This is followed by ‘givingchildren lasting memories of their grandparents’ (43%), and ‘making the trip feel more special or meaningful’ (38%).  

The cost of living is certainly having a real impact, though, with nearly one in five (18%) saying that reducing the overall cost of the trip by sharing expenses is a main motivation. 

What’s more, over two-thirds (67%) of parents actually say they’d feel more relaxed having their children’s grandparents on holiday with them, and another 63% would like it if the grandparents took the kids away without them to give them a break themselves. Something 55% say thegrandparents have already done.  

Letitia Smith, Head of Communications at AllClear, said “As parents increasingly feel the financial squeeze, more grandparents are stepping in to fund family getaways. But this isn’t just about necessity; parents are expressing a desire for all generations of their family to spend more time together.  

“While sharing finances is one motivation for multiple generations holidaying together, our research shows that going away with grandparents is largely about strengthening family bonds, encouraging the grandparents to get abroad, and creating lasting memories for everyone.”