Credit crunch revives the family holiday

Adults who stopped holidaying with their parents in their teens are reviving the family holiday in order to save money and have childcare on tap according to Saga Travel Insurance.

The traditional family holiday could be considered to be a thing of the past as the majority of people (35%) go away with just their partner, and half of kids (50%) give up holidays with their parents by the age of 16. However, family trips are making a comeback with those in their late twenties as almost half (44%) of people resume holidaying with their parents. More than a third (36%) of grown up kids cite financial savings and/or the need for help with babysitting as the reason behind reverting to holidaying with mum and dad. The average age to start going away with parents again is just 29.

Recent research by Saga showed that grandparents are fast becoming the ‘Mary Poppins' of society providing free childcare to help working parents juggle their finances. It appears, however that grandparents are getting little respite as the resurrection of family groups going away together means savings on the families holidays and free childcare too. Not that they're complaining, most grandparents would not hesitate to spend this quality time with both their children and grandchildren.

However, Saga is urging groups who are travelling together to seriously consider which travel insurance is best for the whole party. Saga Travel Insurance provides cover for up to 10 people on the same policy, regardless of whether they are related. This is useful if people are bringing friends or partners on holiday and gives added protection for everybody concerned should the travel plans have to be cancelled or abandoned early due to medical reasons.

Couples that are travelling together are also entitled to a 10% discount. If there is more than one couple in the party then all are entitled to the discount on the same policy.

The Saga study also revealed that over 50s are clearly the most sociable group whilst on holiday. Half of the older generation make every effort to talk to new people when they are away compared to just 36% of people aged under 50. Whilst families appear to make the most of their valuable time together by spending time with each other rather than socialising with others. People who travel alone or are in groups of friends are most likely to talk to new people (53% and 50%) compared to only 36% of families who are as keen to make new friends on holiday.

Andrew Goodsell, Chief Executive of Saga commented 'Everybody has different priorities when deciding who to go on holiday with. It is encouraging that a positive outcome of the credit crunch hitting younger travellers could be that families, including grandparents, are getting to spend more time together.'