Almost half of British parents pay for adult children’s family holidays, study shows

The research showed parents are forking out on average £2,423.90 per trip for their adult children
The research showed parents are forking out on average £2,423.90 per trip for their adult children - MONKEYBUSINESSIMAGES/ISTOCKPHOTO

Almost half of parents pay for their adult children to join them on family holidays, research has found.

The poll by Kent Reliance, a financial company, revealed that two out of every five parents (42 per cent) are footing the bill for their grown-up offspring’s vacations.

Three in ten parents also said they planned to continue to finance these family trips.

Parents still paying for their adult children are spending on average £2,423.90 per trip.

In addition to paying for flights and accommodation, more than half (57 per cent) pay for meals out while away, while 42 per cent cover groceries and a further 33 per cent pay for activities too.

Poll findings acknowledge that cash-strapped Gen Z has less disposable income than the older generation
Poll findings acknowledge that cash-strapped Gen Z has less disposable income than the older generation - SAM EDWARDS/OJO IMAGES RF

The poll of 4,000 British adults found that nearly a third have been on a multigenerational family holiday in the last three years, and one in five plan to take one in the next three years.

When asked why the older generation pays to take their adult children on holiday, the majority of respondents (62 per cent) said it allowed the family to spend “quality time together”, while almost half (47 per cent) cited the ability to “create cherished memories” as a key motivator.

A quarter also said it allowed the family to visit better holiday destinations, an acknowledgement that the cash-strapped Gen Z, mostly aged between 16 and 27, have less spending money than the older generation.

But the bill for these all-inclusive holidays is just one of many things now being covered by the “bank of mum and dad”, with many young adults now relying on their parents to pay for even basic household expenses.