Older Brits are forking out huge amounts of money every year so their younger family members can go on holiday.
During the past five years over 50s have stumped up £1.4billion so that their relatives can enjoy trips away, according to SunLife’s new Life Well Spent report.
In that age group one in eight have helped pay for their families to go away, gifting £1,592 on average.
The generous offer is great for both the giver and receiver, the research suggests.
Three quarters of over 50s say holidays make them happier but 87% felt happier after paying for their family to go away.
SunLife CEO Mark Screeton said: “They say giving is better than receiving, and our latest report, Life Well Spent, reveals that for over 50s, spending on family – particularly for them to go on holiday – offers a huge boost to happiness, even bigger than the boost felt from their own trip away.
“So, if you’re struggling to find the funds for a holiday yourself, pitching a family break courtesy of the Bank of Mum and Dad or Granny and Grandad could be a win-win."
The researchers also asked the over 50s where they'd most like to go holiday.
The top 10 choices were USA, Australia, Maldives, Caribbean, New Zealand, Cornwall, Italy, Canada, Japan and Barbados.
When quizzed on what they look for in a holiday, 72% of over 50s prioritise sunshine for trips abroad.
A different survey recently suggested that people are creatures of habit when it comes to heading on holiday.
A survey by Sykes Holiday Cottages revealed that 92% of Brits have returned to the same holiday spot more than once.
One German couple has seriously upped the stakes - by going on the exact same summer holiday for 56 years in a row.
The Uthoffs, from Cologne, Germany, have been spending their summer in the same cottage in Dorset for nearly six decades.
The couple first visited the village of Burton Bradstock nearly 60 years ago when Mrs Uthoff's sister was an au pair there, and they instantly fell in love with the peaceful and breathtaking surroundings.
So much so that they have returned every year since - even including trips with their children and grandchildren.
Each time, they've stayed at Cliff Farm, a traditional farmhouse which is right on the Jurassic Coast and offers some pretty incredible coastline views.
