According to an article run on Reuters and Skift.com, grandparents willing to foot the bill for once-in-a-lifetime family getaways are bolstering the overall multigenerational family trend:
When Barbara Grover and her husband received an inheritance they were not expecting five years ago, they planned a luxurious family trip.
Rather than plowing the money back into retirement savings, the Grovers took their two daughters as well as their spouses and children along on an eight-day safari in Tanzania.
Total cost for 11 people: around $65,000.
“It’s a lot of money, there’s no way to get around that part,” Grover said. But considering that price included 11 flights, two guides, almost all meals and an unforgettable experience spending time with her kids and grandkids, she said it was a bargain.
While past data on multigenerational trips is scarce, an upcoming survey from MMGY Global, a travel industry research company, relays approximately 5.5 percent of all vacation trips now include three generations traveling together. Experts say that grandparents, trying to gather scattered children and grandchildren for quality time, are driving the trend and often picking up most or all of the tab.
The article also describes the challenges of such trips - managing costs for accommodation and food, finding locations and tours suited to a variety of activity and interest levels, and keeping peace within the family in close quarters. Some segments of the travel industry are adjusting their product offerings to be more attractive to these groups, such as providing all-inclusive meal options and blocking off larger villas.
Read the entire article on Skift.com.