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Young people 'prefer holidays with the family'

What better way for young people to reward themselves for making progress with their savings plans than heading away on holiday? A getaway can be the perfect prize for sticking to a financial plan, but what types of holiday do those under the age of 40 prefer, and where do they want to go to? We asked to find out…

Our survey included more than 800 people, of all ages over 18, and aimed to find out more about the types of holidays people enjoy and what they like most about them. It revealed that for those aged between 18 and 40 specifically, going away with the family is the preferred type of holiday, with more than one-third (36%) highlighting a family holiday as their number one choice. This was markedly higher than escaping for the sun and sea (28%) and heading out on a city break (15%).

The findings illustrate a strong desire among young Brits to spend quality time with their nearest and dearest - even at an age when you might expect a greater emphasis to be placed on escape and exploration. This finding is particularly striking considering it has perhaps never been easier to head off to far-off, exotic climes than it is today.

Speaking of destinations, our poll pinpointed Europe as the top choice for 18 to 40-year-olds. More than half (54%) of those questioned said they most enjoy a getaway on this continent, while just over one-quarter (26%) answered North America, more specifically the US. These destinations were far and away above all other answers, with just 6% and 5% opting for the Caribbean and Asia respectively.

It seems that going on a family holiday goes hand in hand with either not wishing to venture too far afield, or wanting to go to a place with a recognisable culture and language. With many parents under the age of 40 having young children, perhaps this is not too surprising.

Perhaps more surprising, however, were our findings that young people most look forward to seeing the sights (31%) and hitting the shops (23%) while on holiday. You may be forgiven for thinking a family holiday is all about relaxing around the pool or enjoying a day at the beach, but it seems we're eager to make the most of what a holiday spot has to offer - be it checking out the best tourist hotspots or seeking the best bargains.

It appears, therefore, that young British families are keen not only to spend quality time abroad together, they want to also make the most of the opportunities a holiday presents. After all, seeing the sights in a foreign land is great, but doing so with those you love is even better.

At Equilibrium, we encourage people to look after their money and maximise their assets. Holidays are a great example of what can happen if you do it right; they are times when great times are had and lifelong memories made - especially for young families building their lives together.