This could come as good news for parents!
Most of us have memories of going on family holidays during our childhood.
From fighting in the car with your siblings over control of the music to slapping on layers of sun cream at the beach, the family trip is burned into the memory.
And it turns out going on a family holiday could have a long-lasting impact on children's happiness, according to a child psychologist.
While going on a holiday is exciting itself, Child psychologist Oliver James says it's actually spending quality time with parents which children value the most.
As mums and dads can leave responsibilities such as work behind, while kids escape the stresses of school, it can make for a longer period of playfulness for both sides - and this is what the children value the most.
Mr. James told the Telegraph: "The exam system that we put children through these days can be incredibly stressful, just as much so as the strains of adult life.
"Holidays remove us, physically, from our highly pressured everyday lives where everyone’s focused on meeting targets. They are times when everyone can relax and be playful together."
The benefits come from spending that quality time together, whether that's sharing an ice cream together, taking a dip in the sea, or simply having a fun day out exploring on a walk.
This might come as good news for parents... as perhaps a humble stay-cation might be just as effective putting smiles on kids' faces, than an expensive sun-seeking holiday.
