A paliday is a holiday in which you rely on the goodwill of your friends or family to feed and house you in their own home. And in the recent tough financial climate, the paliday appears to be increasingly popular, as people search for alternative ways to take a break at a time when their holiday budget is tightly squeezed. (Source: macmillandictionary.com)
The most popular type of paliday is a beach or seaside break.
Paliday follows a couple of other recent neologisms stemming from the need to find more economical ways to take a holiday. 2008 saw the emergence of the staycation, a holiday in which people stay at home and visit places near to where they live, and rapidly in its wake came the daycation, a day trip or short holiday that does not involve staying away overnight.