With Canadians in the midst of a trillion-dollar wealth transfer, baby boomers are rewriting the rules of inheritance. A survey from Flight Centre conducted by YouGov reveals that some grandparents aren’t waiting to pass along financial assets; instead, they’re creating a living legacy by funding multi-generational vacations.
- 27% of boomers say they’re willing to use their retirement savings to fund a holiday
- 1 in 16 (6%) would draw from their child’s or grandchild’s inheritance
- Only 1% say they rely on their children or grandchildren to foot the bill
- 73% of Canadians have or want to travel with multiple generations of their family
- 79% say reconnecting with loved ones is a travel priority
“Boomers aren’t quietly fading into retirement; they’re redefining what legacy means,” says Ashley Harold, travel expert at Flight Centre Canada. “For many, the real inheritance isn’t stocks or property. It’s a sunrise on a beach in Costa Rica, a grandchild’s wide-eyed wonder in Thailand, or laughter shared across three generations on a Mediterranean cruise. That’s not just a vacation—that’s connection.”
Their millennial children love it, too. Of all age groups, they’re most likely (80%) to say they would consider travelling with multiple generations of their family.
- Affordability: Millennials were the only age group to see their wealth decline during the pandemic. One in four (25%) say they travel with others to reduce expenses.
- Childcare: With millennials ranging in age from 29 to 44, they’re the most likely generation of Canadians to have young children.
- Too much stuff: Millennials prefer experiences, not an inheritance of pretty-but-functionless heirlooms.
Families now make up nearly one in five Flight Centre bookings—a larger share than last year—with the average family booking value up nearly 7% year over year. September is also one of the busiest booking periods for Canadian families, as parents and grandparents look ahead to winter escapes and holiday breaks. Trips to sun destinations lead the pack.
“As summer comes to an end, we’re seeing more boomers booking family vacations,” adds Harold. “Multi-gen travel just makes sense—the costs are shared, childcare is built in and there’s something for everyone. And for grandparents, having the kids around keeps them young at heart, too. For Canadian families, that’s the new legacy: not leaving it behind, but living it.”