As many as 5.4 million young adults are set to go on holiday with their parents this year, new research reveals.

More than three quarters (79%) of those aged 20 to 30 are opting to take a multi-generational holiday with their mothers and fathers.

Saving money (23%), being able to afford multiple holidays in the year (18%), and being able to enjoy a more luxury getaway (24%) were cited as key reasons.

Three quarters of parents are happy to contribute part, or all, of their adult offspring’s holiday costs,with ‘the bank of mum and dad’ spending an average of £371. However, nearly a third (29%) said they funded the entire holiday with all expenses paid.

Two thirds (62%) of the 2,000 people polled by First Choice want to spend quality time with the family and one in five admitting they prefer to take a break with parents than friends.

The ‘boomerang’ generation is also helping their parents to become more adventurous with their holiday choices, with a third of parents (34%) saying they’ve tried an exotic or long-haul destination thanks to the influence of their adult children.

The US, Egypt, Thailand and Croatia top the list of destinations they are considering or have been to, in place of old favourites such as Spain and France.

Former Love Islanders Chris Hughes and Kem Cetinay are highlighting the findings by holidaying with their mothers at the Jaz Aquamarine Resort inEgypt.

First Choice chief marketing officer Katie McAlister said: “It’s really interesting to see just how many young Brits are choosing to holiday with their parents, to reconnect and spend quality family time together.

“We are seeing more families than ever looking to travel together, taking the opportunity to explore far flung locations and try out exciting activities as a family.”