As young adults struggle with debt, more and more are joining their parents on holiday, whilst their parents foot the bill, a trend dubbed the genervacation.
A recent study conducted by travel group Souk Response, found that there’s a rise in parents that are paying to take their older children on holiday with them.
We now see many people in their 20s and early 30s struggling with student debt and the rising costs of housing and living costs. Their parents are in stark contrast as they are typically ’empty-nesters’, embracing retirement and the freedom to travel.
The difference has left many cash-strapped young adults turning to ‘the bank of mum and dad’ and tagging along on their parents’ breaks.
Huw Williams, director of Souk Response, said “The top end of the market is very comfortable with the empty-nesters – the traditional affluent, double-income couples who are either pre- or post-children, but the picture is becoming more complicated.”
In 2016 it seems that the squeeze on cost of living, leaves more young people happy to go away with their parents, embracing the genervacation trend.
Have you taken a genervacation holiday? If not, would you consider it to save money?
Join #girlstravel on Twitter at 6pm GMT, Monday 7th March 2016, as we discuss the genervacation.